Monday, February 28, 2022

Hopcharge launches world’s first on-demand, doorstep, fast charging Electric Vehicles charging service in a big boost to enable faster EV adoption


India, 28th February 2022: Hopcharge, world’s first on-demand, doorstep, fast Electric Vehicle charging service, after a successful pilot run in parts of Gurgaon, has launched its services across Gurgaon and plans to deploy Hopcharge across all major metropolitans in the coming months. The startup is addressing the challenges of unavailability of charging facilities, slow charging at home and productive time being consumed to charge vehicles, by deploying it’s unique made-in-India, patented, rapid charging technology that enables modular and mobile charging infrastructure that augments local grid, minimises expensive grid upgrade and saves productive time for EV owners. 

Founded in 2019, Hopcharge is a Gurgaon-based startup that allows introducing a charging system consisting of connected and portable power banks with high power charging capabilities specifically designed for EVs. The startup offers a virtual energy cloud for EV owners which synchronizes with the grid to balance the supply and demand of energy in a time and space distributed manner. The users can avail of the service through the Android/iOS app supported by a technology-enabled back-end energy management system to execute the end-to-end process and supports all the EV models globally. 

Commenting on the launch, Arjun Singh, Co-Founder and CEO at Hopcharge, stated, ”We have created Hopcharge as a plug and play fast-charging network that is available any day anytime anywhere in the city. Since it's a charging station coming to the EV users instead of the other way around, it frees up the Ev user while we charge the EV, plus it saves them the hassle of sanctioning load, installing, and maintaining it. Early response from EV owners has been overwhelming, and more and more people are requesting us to expand and provide our services in their respective cities across the world. With our made in India technology, we aim to make Hopcharge the game-changer and become the enabler technology for EV adoption in the world.”

“Even in the US, challenges related to charging infrastructure will potentially slow down the adoption of EVs if not addressed properly. A large percentage of US households in cities lack access to home charging. For these households to rely only on public charging will be expensive and inconvenient, resulting in a significant loss of productive time,” said Mr. Mario Holdsworth, former founder of Evercharge USA and who has been board advisor in the Hopcharge since inception. Learnings from challenges identified in mature markets like the USA are well implemented by Hopcharge. Mario said post the successful pilot of Hopcharge, there is a solution for the challenges faced in faster adoption of EV and soon plans to roll out a global pilot would be in place.

Hopcharge offers multiple ad hoc and subscription models like HopechargeX or Hopcharge Xpresso, through which the consumers can book for on-demand charging. These subscription models are uniquely designed around customers' various charging needs. Hopcharge’s patented technology also ensures a healthy battery life to reduce the overall cost of ownership and 0 downtime or loss of productive hours of consumers.


About Hopcharge: Hopcharge is the brand name trademarked by EVQ Technologies Private Limited, company incorporated in India. On a mission to enable faster adoption of EV by being a significant player to solve issues around infrastructure of charging electric vehicle across the world. EVQ Technologies Pvt Ltd also has strategic entity in Japan and USA. 

ESDS Software Solution Bags the prestigious Aegis Graham Bell Award 12th Edition 2022

India, Monday, 28th February 2022: ESDS Software Solution Ltd, has been awarded the Aegis Graham Bell 2022, for their Combat COVID with AI initiative. The award ceremony celebrated their 12th edition to promote and recognize innovators and their innovations across the technology sector. 

ESDS Software Solution, is amongst India’s leading managed cloud service and end-to-end multi-cloud requirements provider (Source: Ken Research Report). The AA+ Testing Solution developed by ESDS is an AI based testing solution that detects lung abnormalities caused due to any respiratory diseases from an X-ray. This technology driven solution has been recognized by the Aegis Graham Bell awards ceremony held at Delhi.  

Expressing his gratitude towards this win, Piyush Somani, Managing Director and Chairman ESDS Software Solution Limited said, “This is truly an honorable and exciting win for ESDS. We have always strived to get the first hand in technology and put it to the best use. With this AA+ testing solution, the teams have worked dedicatedly to develop this innovative and smart solution that we hope will positively help. This is surely a boost of enthusiasm for everyone at ESDS to continue working hard and route for more such eminent awards in the future as well.” 

Bhupesh Daheria, CEO of Aegis School of Data Science and Cyber Security and Telecommunication and Founder of AGBA said, "Congratulation to ESDS for its efficient and need of the hour innovation in IoT, AA+ Testing solution with the help of AI and ML, which detects infections related to lungs in less than a minute. Such innovations are likely to be useful for a country like India which has a high population and hence would likely help the healthcare sector to handle and detect the patient's lung condition quickly"

About ESDS: ESDS Software is amongst India's leading cloud service and end-to-end multi-cloud requirement provider (Source: Ken Research Report) and has its presence across the APAC region, Europe, the Middle East, the Americas, and Africa. It offers cloud computing Infrastructure as a Service (IaaS), and Software as a Service (SaaS), and managed services. The company operates the business on an asset-light model and offers products across diversified industries that include government ministries & companies and corporate entities across sectors such as BFSI, manufacturing, IT and ITES, telecom, real estate, pharmaceuticals, retail, and education and in several countries across the APAC region, Europe, Middle East, the Americas, and Africa. The company operates its business through three data centers in India, one each in Navi Mumbai, Nashik, and Bengaluru covering over 50,000 sq ft. ESDS is an innovation-driven company and is one of the few data center and cloud services providers that has its own R&D team. The team has indigenously developed several products that complement the data center and cloud business such as eNlight Cloud, eMagic, eCos, eNlightWAF, eNlight IoT, eNlightDRM, eNlight Meet, eNlight SIEM. The company is committed to innovation and focuses on creating more niche and cost-effective technology products and solutions. ESDS Software is the market leader in hosting government cloud applications and has the largest number of customers running SAP ERP system and SAP HANA systems (Source: Ken Research Report). For more details, please visit:

Disclaimer: ESDS Software Solution Limited is proposing, subject to receipt of requisite approvals, market conditions, and other considerations, an initial public offering of its equity shares (the "Equity Shares") and has filed a draft red herring prospectus dated September 2, 2021 (the "DRHP") with the Securities and Exchange Board of India ("SEBI"), BSE Limited and the National Stock Exchange of India Limited. The DRHP is available on the website of SEBI at, the website of the BSE Limited at and the website of the National Stock Exchange of India Limited at and the website of the Lead Managers, Axis Capital Limited and IIFL Securities Limited, at and, respectively. Any potential investor should note that investment in Equity Shares involves a high degree of risk. For details, potential investors should refer to the red herring prospectus of the Company, including the section titled "Risk Factors"



The premium mid-size sedan will have three trims: Active, Ambition, Style

The SLAVIA is the second product on the Made-for-India MQB-A0-IN platform

SLAVIA 1.0 TSI will offer a 6-speed manual and 6-speed torque converter automatic transmission

The 3-cylinder engine in the SLAVIA 1.0 TSI makes 85 kW (115 PS) and 178 Nm of torque

Test-drives and deliveries begin today

Mumbai, February 28, 2022 – ŠKODA AUTO India has today launched the all-new SLAVIA 1.0 TSI sedan starting at an incredible ₹ 10.69 lacs. The SLAVIA 1.0 TSI will be available in three variants with an option of two transmissions and tops out at ₹ 15.39 lacs for the fully-loaded Style variant with the six-speed torque converter automatic and sunroof option. A six-speed manual gearbox will also be available in the SLAVIA 1.0 TSI across all variants offering outstanding value and maintaining ŠKODA’s legacy of providing world class sedans for over 20 years in India.

Zac Hollis, Brand Director, ŠKODA AUTO India, said, “We are offering incredible value to our customers with the all-new SLAVIA 1.0 TSI. This premium mid-size sedan has received outstanding feedback for its design, since we have showcased the car. Over that, it is powered by an advanced, efficient engine which leads on power and torque. The SLAVIA 1.0 TSI is not only about remarkable value on the price chart. We have also engineered this sedan with a sharp focus on the cost of ownership and maintenance. It makes the SLAVIA a complete product that shines not just in the showroom or the road, but also as an overall ownership experience. Along with KUSHAQ, the all-new SLAVIA will be a volume drive for us, as we look at significantly growing the ŠKODA brand in India.”

Developed on the Made-for-India MQB-A0-IN platform like the KUSHAQ SUV that was launched in 2021, the all new SLAVIA 1.0 TSI is powered by a 1-litre, three-cylinder turbo petrol engine. It sends 85 kW (115 Ps) of power and 178 Nm of torque to the front wheels via a 6-speed manual or a 6-speed torque converter automatic. The TSI engine is rated for a fuel efficiency of up to 19.47 km/l and can accelerate to a 100 km/h in 10.7 seconds.

The SLAVIA is a perfect culmination offering varied segment best features. At 1752 mm, the ŠKODA SLAVIA is the widest car in the premium mid-size sedan segment. At 1507 mm, the SLAVIA is also the tallest in its class. With a wheelbase that stretches to 2651 mm -- again, the longest in its segment -- the SLAVIA sedan promises utmost head, shoulder and legroom offering capacious accommodation for five adults. The SLAVIA also leads its class in terms of boot space with a capacity of 521 litres. With the rear seats folded this expands to 1050 litres. Besides, with a ground clearance of 179 mm, which is again segment-busting, the SLAVIA easily surmounts challenges of an Indian road. 

The SLAVIA 1.0 TSI comes with a bevy of safety features including up to 6 airbags, Electronic Stability Control, Electronic Differential System for enhanced traction under cornering, and Multi Collision Brake prevents potential follow-on collisions in case of an accident and brings the car to a halt in a gradual, safe manner. Other features like parking sensors, automatic brake disc cleaning function, rear-view camera, tyre pressure monitoring, Hill-Hold Control, Cruise Control, auto headlamps and wipers are also available. Enhancing safety for younger passengers are ISOFIX anchors and tether point anchors on the roof for child seats. 

The front is accentuated with a dashboard lined with circular AC vents across. The touchscreen has a design element running under it serving two purposes. It is a reflection of the ŠKODA grille outside and also acts as a rest for the wrist making it ergonomic, convenient and safe for the user to operate the touchscreen. Taking center-stage in the dash is a 25.4 cms (10-inch) advanced touchscreen with ability to download ŠKODA Play apps, wireless SmartLink and ŠKODA Connect for all infotainment and navigation needs. For added benefit for the driver, the SLAVIA comes equipped with 20.32cm (8-inch) colored programmable digital cockpit. For the rear passengers with dual AC vents and dual USB ports to charge personal devices are available

The SLAVIA 1.0 TSI comes with a 4-year/100,000kms warranty as standard. In addition, customers can choose from various maintenance packages under ŠKODA AUTO India’s ‘Peace of Mind’ programme. The ownership costs are further kept in check with up to 95% localisation ensuring most parts and components are locally made and replacements are affordable and readily available.

The SLAVIA will be available with variety of color choice as option: a sedan exclusive of Crystal Blue, the Tornado Red exclusive to India, Candy White, Brilliant Silver and Carbon Steel. 

The ŠKODA SLAVIA will also be available with a 1.5 TSI engine, which makes the sedan a completely different beast. Details of which will be revealed on March 3, 2022. 

Price Summary:

Model 1.0 TSI (MT) 1.0 TSI (AT)

Active 10,69,000 -

Ambition 12,39,000 13,59,000

Style (Non-Sunroof Version) 13,59,000 -

Style 13,99,000 15,39,000


is successfully steering through the new decade with the NEXT LEVEL – ŠKODA STRATEGY 2030. 

aims to be one of the five best-selling brands in Europe by 2030 with an attractive line-up in the entry-level segments and additional e-models.

is emerging as the leading European brand in India, Russia and North Africa.

currently offers its customers ten passenger-car series: the FABIA, RAPID, SCALA, OCTAVIA and SUPERB as well as the KAMIQ, KAROQ, KODIAQ, ENYAQ iV and KUSHAQ.

delivered over 870,000 vehicles to customers around the world in 2021.

has been a member of the Volkswagen Group for 30 years. The Volkswagen Group is one of the most successful vehicle manufacturers in the world. 

independently manufactures and develops not only vehicles but also components such as engines and transmissions in association with the Group.

operates at three sites in the Czech Republic; manufactures in China, Russia, Slovakia and India primarily through Group partnerships, as well as in Ukraine with a local partner.

employs more than 43,000 people globally and is active in over 100 markets.ŠKODA AUTO INDIA 

fascinating customers in India since 2001. 

offers four models in India – SUPERB, OCTAVIA, KUSHAQ and KODIAQ.

present in more than 100 cities across the country with over 175 customer touchpoints 

recorded a triple digit growth of 130% with 23,858 units sold in 2021

ŠKODA AUTO India website - www.š

ŠKODA AUTO India Communications Twitter Handle - @SKODAIndia_P

Koo App users celebrated Marathi Language Day with enthusiasm, a reflection for Mayamarathi's love seen

 Mumbai,February 28 2022: Marathi language lovers around the world are celebrating Marathi Language Day with enthusiasm. This is also being reflected on social media. Even on 'Koo' App  Marathi, users like politicians, writers, artists and the general public are expressing their gratitude for Marathi.

The birthday of the great poet Kusumagraj is celebrated every year as Marathi Rajbhasha Day The hashtag # UtsavMarathi language was also launched on the micro-blogging app 'Koo'. Marathi speaking Koo users  today are telling the story of love and pride towards Marathi by experimenting with various thoughts, opinions, poems, small poems written in Marathi called as charoli and pictures.

Koo is a popular app in ten Indian languages, including Marathi. The purpose of this forum is to enable people to express themselves effectively in regional languages, including Marathi. Well known Marathi speaking people from various fields like politics, sociology, literature, industry, sports, journalism are openly expressing their views on 'Koo.

Actress Suzanne Burnett has given unique wishes for Marathi Day. She is celebrating Rajbhasha Day on 'Koo' with a beautiful photo of her youth in nine yard saree with words of goodwill.

Saturday, February 26, 2022

ICAI Navi Mumbai elects its new Officebearers for the year 2022-23, CA. Abhishek Shah uninomsoly elected as Chairman

The managing committee of Navi Mumbai Branch of WIRC of Institute of Chartered Accountants of India (ICAI) today uninomsoly elected   CA. Abhishek Shah elected as Chairman, CA. Harshel Ajmera as Vice Chairman, CA. Neelesh Bajaj as  Secretary and CA. Amit Tenani as Treasurer for the term FY2022-23.  

The other elected managing committee members are CA. Vishal Kumar Dagriya, CA. Nikhil Natekar, CA. Poonam Pathak, CA. Amit Somani, and CA. Praveen Khatri.

ICAI Navi Mumbai Branch is having more than three thousands Chartered Accountants and ten thousand plus students.

Reliance General Insurance participates in the Pradhan Mantri Fasal Bima Yojana's policy distribution drive - “Meri Policy Mere Hath”

Mumbai, 26 February 2022: Reliance General Insurance Company Ltd (RGICL), India's 4th largest private general insurance company, has announced its participation in the Pradhan Mantri Fasal Bima Yojana's nationwide Doorstep Crop Insurance Policy Distribution Mega Drive - 'Meri Policy Mere Hath' under 'Azadi Ka Amrit Mahotsav Campaign – India@75'. The Company fully supports the initiative and is committed towards playing its part in building a better financial ecosystem for the farmers.

To drive the initiative effectively, Reliance General Insurance has set up special camps at gram panchayat/village level to educate farmers, who are enrolled with Reliance General Insurance under the PMFBY, about their existing crop insurance policies. Through this initiative, the farmer will receive first-hand information, and details of their crop insurance such as sum insured amount, types of crops insured and the premium amount. The Company will also distribute physical documents of the existing policies to the farmers. Having these documents handy will ensure hassle-free claim settlement for the farmers in the future. Furthermore, the initiative will also give the farmers a platform to share their feedback, queries and grievances directly with the insurance company. 

Commenting on this unique initiative, Rakesh Jain, CEO of Reliance General Insurance, said, "We welcome the initiative and give our extensive support to this exceptional drive. Agriculture provides livelihood to nearly 60% of our population. However, risks of natural calamities, large rain-fed areas, pests, and disease make agriculture a highly volatile sector. Thus, Pradhan Mantri Fasal Bima Yojana was introduced to provide financial protection to the farmers against any such unforeseen events. 'Meri Policy Mere Hath' initiative takes the Govt.’s effort one step ahead by empowering farmers through crop insurance awareness and by bringing insurance policy to the farmers' doorsteps. It will also help increase direct communication between the farmers and insurance companies and increase their trust in insurance companies and PMFBY." 

The Company will also distribute a FAQ leaflet in regional languages to inform farmers all about crop insurance.

About Reliance General Insurance

Reliance General Insurance, a part of Reliance Capital, is one of the leading general insurance companies of India. The Company offers a well-rounded and comprehensive bouquet of products including Motor Insurance, Health Insurance, Travel Insurance, and Home Insurance, and offers customized solutions to meet the protection needs of each customer. Reliance General Insurance has a wide network of more than 62,000 intermediaries across 128 branch offices across India for offering its products and services to retail, corporates and SME clients. | www.facebook/RelianceGenIn | @RelianceGenIn

With effect from February 25, 2022, Bank of Baroda has increased the interest rates on Domestic, NRO, NRE Term Deposits of upto Rs. 2 crore and Rs. 2 crore to Rs. 10 crore.

Interest rates have also been hiked on Saving Deposits of Rs. 100 crore and above to less than Rs. 200 crore and Rs 500 crore and above.


Revised Rate of interest on slab wise SB Deposits (w.e.f 25/02/2022) are as under

SB deposits outstanding Balance

Earlier Interest Rate

Revised Interest Rates w.e.f 25/02/2022

Rs.100 crore and above to less than Rs.200 crore



Rs 500 crore and above to less than Rs 1,000 crore



Rs 1,000 crore and above




For Domestic & NRO Term Deposits [Per Annum] [Fresh & Renewal] [Callable] (ROI in %) - Below Rs. Two Crore


Earlier Interest Rate

Revised Interest Rates w.e.f 25/02/2022

1 year



Above 1 year to 400 days



Above 400 days and upto 2 Years



*In the current challenging situation brought by COVID-19, Bank has agreed to continue to pay additional rate to Resident Senior Citizen for less than Rs. 2.00 crore as under:

1.       0.50% for all tenors up to 5 years.

2.       1.00% for "Above 5 years to up to 10 years" tenor and valid till 31.03.2022.

3.       Sr. Citizen Preferential Rate is applicable only for "Resident Indian Sr. Citizen".

For Domestic Term Deposits & NRO Deposits [Per Annum] [Fresh & Renewal] [Callable] (ROI in %) - Rs. 2 Crore to up to Rs. 10 Crore


Earlier Interest Rate

Revised Interest Rates w.e.f 25/02/2022

91 days to 180 days



1 year





For Baroda Advantage Fixed Deposit (Domestic/NRO/NRE) Accounts (Non Callable) Fresh & Renewal - Minimum Rs. 15.01 lakh to below Rs. 2 crore


Earlier Interest Rate

Revised Interest Rates w.e.f 25/02/2022

1 year



Above 1 Years to 400 days



Above 400 days and upto 2 Years




For Baroda Advantage Fixed Deposit (Domestic/ NRO / NRE) Accounts (Non-Callable) (Fresh & Renewal) - (ROI in % p.a.) (Rs 2.00 crore and above & up to Rs 10.00 crore)


Earlier Interest Rate

Revised Interest Rates w.e.f 25/02/2022)

1 Year





NRE Term (Rupee) Deposits [Fresh & Renewal] [Callable] (ROI in %) – Below Rs. 2 Crore


Earlier Interest Rate

Revised Interest Rates w.e.f 25/02/2022)

1 year



Above 1 Year to 400 days



Above 400 days and upto 2 Years





NRE Term (Rupee) Deposits [Fresh & Renewal] [Callable] (ROI in % p.a.) Rs 2.00 crore and above & upto Rs 10.00 crore

Maturity Range

Earlier Interest Rate

Revised Interest Rates w.e.f 25/02/2022)

1 Year




For details:


Parul Khanna celebrates Studio6 Jewels' 1st anniversary with brand ambassador Iulia Vantur; launches 'The Bridal Affair'

Exquisite, detailed, and magnificent defines Parul Khanna's luxury jewellery brand Studio6 Jewels. Within a short span of the journey, the entrepreneur has successfully established Studio6 Jewels as one of the premium jewellery labels in India. 

To celebrate the first anniversary of Studio6 Jewels, Parul Khanna hosted a success bash in Mumbai. The brand ambassador Iulia Vantur also graced the event and launched the new collection titled 'The Bridal Affair'. 

An exclusive Destination Wedding edit celebrates the unique identity of every bride & stresses upon investing in timeless pieces that are an extension of her personality. It is an ode to all the beautiful brides and bridesmaids!

While speaking about the same, Iulia Vantur said, "I'm glad to be part of a journey that started from love and with love for all the women who want to shine bright like these beautiful pieces from Studio6 Jewels. It's a pleasure to collaborate with my friends, Parul Khanna, who designed the collection and Munna Singh, who has captured these beautiful designs." 

In similar a vein, Parul Khanna said, "Studio6 Jewels is my dream project, and watching it grow a year old makes emotional, confident, and all shades of emotions. I am proud and thankful for the people who have supported me in building the brand. On our anniversary, we wanted to celebrate the nuances of jewellery, and that's how we came up with 'The Bridal Affair'. It is the celebration of a bride's love for her jewellery that displays her identity. I am so excited to launch it on our BIG day!" 

For unversed, Parul Khanna is an entrepreneur, donning multiple hats. Her exquisite taste, an eye for detail and a keen love for jewellery is very well reflected in her home brand Studio6 Jewels.

Friday, February 25, 2022

Union Bank launches ‘Union MSMERuPay Credit Card’

The card will be a new digital payment tool available to the MSME Customers of Union Bank of India for meeting their Business related operational expenses with interest free credit upto 50 days.

MSMEs will also be benefitted with accidental insurance coverage, lounge access, and other rewards being offered by NPCI on RuPay cards.

Mumbai - February 25, 2022: Union Bank of India in association with National Payments Corporation of India (NPCI) today launched ‘Union MSME RuPay Credit Card’ with an aim to provide digital delivery of Finance to Micro, Small & Medium Enterprises(MSMEs) in the current phase of progression towards a digital economy. The dedicated card for MSMEs is available to eligible borrowers of Union Bank of India and will provide a simplified payment mechanism to MSMEs to meet their business-related operational expenses.

With Union MSME RuPay Credit Card, the MSME borrowers will be able to enjoy an interest-free credit period of upto 50 days on their business spends. The Card also offers EMI facility to the Customers on their business-related purchases. MSMEs will also get specially curated efficient business services on this Card which will help them in taking their business on most of the digital platforms. Additionally, they will also be benefitted   in   the   form   of accidental insurance coverage of upto Rs. 10 Lacs, domestic airport lounge access of 2 per quarter and other rewards using this Card.

Speaking on the occasion, Shri Rajkiran Rai G, Managing Director & CEO, Union Bank of India, said, “India has rich entrepreneurial talent at the bottom of pyramid with more than sixty million micro entrepreneurs. Union Bank of India prides in understanding the unique needs of this segment, bringing products as per their requirements. The Union MSME RuPay Credit Card, a first of its kind in the industry, addresses long felt need of easy credit appraisal without dilution of risk standards. The alternative cash-flow based underwriting in digital ecosystem helps our MSMEs better manage liquidity while reducing the cash dependence in business operations.”

Shri Nidhu Saxena, Executive Director, Union Bank of India said “To improve the digital delivery channel in servicing the MSME clientele in fast growing tech savvy economy, Union Bank of India, in partnership with NPCI, has launched Union MSME Credit Card. With the newly launched Credit Card facility coupled with the regular working capital limits, MSMEs can reap the benefits of best in class products being made available to them by the Bank.”

Ms Praveena Rai, COO, NPCI, said “We are pleased to partner with Union Bank of India to launch Union MSME RuPay Credit Card. We believe this initiative will digitally empower MSMEs and help them streamline their regular business expenditure and finances. MSMEs are


considered to be the backbone of the economy and we are confident that this Card will address the existing credit gap in the MSME sector so that they can continue to contribute towards economic growth. We are also excited to witness the portfolio expansion of RuPay from retail users to business users. At NPCI, we are committed to providing a safe, seamless and delightful purchase experience to all our RuPay users.”

About Union Bank of India

Union Bank of India is one of the leading public sector banks of the country having its headquarters at Mumbai (India).Today, it has a network of 9113+ domestic branches, 11455 ATMs, 8216 BC Points, serving over 120 million customers with 78000+ employees. Union Bank of India is the first large public sector bank in the country to have implemented 100% core banking solution. The Bank’s total business as 31.12.2021 stood at Rs.16,06,986crores, comprising Rs.9,37,455 crores of Deposits and Rs.6,69,531 crores of Advances. The Bank has received several awards and recognition for its prowess in Technology, Digital Banking, Financial Inclusion, MSME and development of Human Resources.

About NPCI:

National Payments Corporation of India (NPCI) was incorporated in 2008 as an umbrella organization for operating retail payments and settlement systems in India. NPCI has created a robust payment and settlement infrastructure in the country. It has changed the way payments are made in India through a bouquet of retail payment products such as RuPay card, Immediate Payment Service (IMPS),Unified Payments Interface (UPI),Bharat Interface for Money (BHIM), BHIM Aadhaar, National Electronic Toll Collection (NETC Fastag) and Bharat BillPay.

NPCI is focused on bringing innovations in the retail payment systems through the use of technology and is relentlessly working to transform India into a digital economy. It is facilitating secure payments solutions with nationwide accessibility at minimal cost in furtherance of India’s aspiration to be a fully digital society.

Released on behalf of Union Bank of India by:-

M VENKATESH, GM, Corporate Communication; Tel: 22892500; E-mail:

Corporate Communications, Union Bank Bhavan, 239, Vidhan Bhavan Marg, Nariman Point, Mumbai – 400 021.

Departments of Posts (DoP) and India Post Payments Bank (IPPB) Maharashtra Circle organize Felicitation Function for Top-5 Grameen Dak Sevaks (GDS) of "BBPS Diwali Dhamaka Campaign" at Mumbai on 25.02.2022

The Bharat Bill Payment System “BBPS” has been launched by the Reserve Bank of India for easing the payments of bills across geographies.  It offers myriad Bill collection categories like electricity, telecom, DTH, gas, water bills, etc. and other repetitive payments like insurance premium, mutual funds, school fees, institution fees, credit cards, fastag recharge, local taxes, housing society payments, etc. at one single window.    

India Post Payments Bank (IPPB) had launched BBPS “Cash-to-Bill” feature in Sep-2021 and DoP-IPPB had launched 3 months (01.11.2021 to 31.01.2022) campaign.

Performance Highlights of Maharashtra Circle are: Maharashtra Circle single handedly contributed (57,000+) Bill Payment transactions almost 60% of the pan India achievement.  

  Ms. Veena Srinivas, Chief Postmaster General, Maharashtra Circle was the Chief Guest and Shri G R Bansal, Chief Sales and Marketing Officer (CSMO), IPPB Corporate Office New Delhi was the guest of honor for this function. 

Top-3 Grameen Dak Sevaks 1. Shri Vishwanath Lingayat, Ratnagiri:4127 transactions, 2. Shri Shivaji Kumbhar, Kolhapur: 3834 transactions and 3. Shri Rajesh Utekar, Ratnagiri: 3666 transactions got Scooter and other 2 Toppers i.e. 1.  Shri Jaydeo Adhav, Amravati : 3064 transactions  and 2. Shri Yasin Pinjari, Kolhapur:2169 transactions got Smartphone by Chief Post Master General (CPMG) in the felicitation function. 

While addressing the function, Ms. Veena Srinivas, CPMG, Maharashtra Circle said, “Now any one can make bill payments through Cash without having an IPPB a/c at any Post office through any GDS/Postmen/Postal Assistant across the country.  In Maharashtra and Goa, this facility is available at 12,000+ Post Offices and is also available at the doorsteps through 16,000+ workforce of your trusted postmen and GDS”.

SugarBox partners with Amazon Pay and Simpl, to enable digital payments


Consumers can now access e-wallets (prepaid payment instruments) on Amazon Pay & Simpl, through SugarBox Networks

SugarBox is set to revolutionize the fintech industry by enabling digital payments in offline and intermittent environments

2022 to witness growing partnerships with the fintech industry

Mumbai, February 24th, 2022: SugarBox Networks, whose Hyperlocal Edge Cloud based technology is building the backbone for the internet of the future, has partnered with Amazon Pay, digital payment platform enabling convenient & simplistic payment solutions, and Simpl, a platform that empowers merchants and customers with commerce solutions, to enable payments in line with the progressive Digital India vision. By facilitating payments across geographies, this partnership edges closer to building an innovative solution for consumers, across the underserved and unserved geographies. 

With this partnership, SugarBox aims to make fintech accessible to 425 Mn people by 2026. Aligning with the Digital India mission of connecting the next billion users, SugarBox Networks has implemented their technology across areas of eminent consumer interest, such as villages, trains, metros, and are inching closer to being present in flights, hospitals and across other public-gathering environments. 

This strategic association will focus on providing e-wallet users a seamless one-click payment experience on Amazon Pay, further strengthening the digital payments ecosystem.  

Speaking about this partnership, Mr. Vikas Bansal, Director, Amazon Pay, added, “Customers are now looking for payment platforms & propositions that provide a secure, trusted, and convenient experience. Our partnership with SugarBox will allow “Amazon Pay Balance: Money” (prepaid payment instrument) users to transact online, seamlessly, enhancing their payment experience. This initiative is in line with our endeavor towards simplifying the daily lives of our customers and driving digital adoption for Amazon Pay, by enabling customers to pay anyone, anywhere”.

Digital payments are expected to witness even further growth in the coming years. Reduced dependency on cash, fast transfer speed, and the ease of transacting, is what makes digital payments a preferred option. Though e-wallets have exhibited rapid adoption and recorded a growth of 30.19 per cent during the year ended March 2021, a large number of consumers do not have access to these options. SugarBox aims to address this digital divide, by empowering them with access to connectivity. 

Nitya Sharma, Co-founder & CEO, Simpl elaborates, “Simpl, founded in 2015, is one of the pioneers to spearhead the ‘Buy Now Pay Later’ concept in India and our efforts have yielded overwhelming results. We are enabling merchants across product categories and end-customers across segments, to unlock multiple benefits from a single unified platform. Over the years, Simpl has added new verticals to its existing product portfolio attuned to evolving customer expectations, changing merchant requirements and dynamic market scenarios. Often the absence of a stable network is a huge barrier to reliable connectivity. And this is why our association with SugarBox is a significant move towards reaching out to a wider audience, for seamless transactions”.

To initiate these payments, the user will have to link their e-wallets with SugarBox, thus ensuring subsequent payments are managed seamlessly. At scale, SugarBox Networks envisions to augment the existing internet infrastructure and enhance digital experience be it in remote areas, in-transit, or even when the network is patchy.

Speaking about how this partnership creates value, Rohit Paranjpe, CEO & Co Founder, SugarBox Networks, said, “Digital payments are forging a new era, by themselves. Enabling digital payments for a consumer in an urban geography or a village, speaks volumes of how the existing digital divide could soon be diminishing. Our partnership with Amazon Pay and Simpl, is an initiative to revolutionize and empower consumers across ‘Bharat’ and ‘India’. We, at SugarBox, are relentlessly focused on building the backbone for the internet of the future, through simple ideologies of offering affordable, accessible and reliable connectivity”.

India has witnessed exponential growth in digital payments over the last few years. According to the Ministry of State for Electronics and IT, digital payments have grown five folds from 1,004cr in 2016-17 to 5,554cr in 2020-21, with mobile transactions leading the way. While this is an encouraging sign, the payments industry continues to be dependent on an active and reliable network for rapid growth, and as a result lacks presence in the underserved and unserved parts of the country. 


About Amazon Pay

Amazon Pay is a trusted, convenient, and rewarding way to pay for anything, anywhere on and off Amazon continues to extend the convenience of Amazon Pay by making it possible for millions of cash customers to start making digital transactions and support the Government’s vision of encouraging electronic payment, leading to a less-cash society in India. Amazon Pay smoothens the customer experience of online payments at the time of placing orders with the benefit of ‘one-click’ payments leading to a faster and smoother check out process. With its cash-load feature, Amazon Pay also solves the pain point of tendering exact amount of cash at the time of delivery. For more information, visit:

About Simpl

Co-founded in 2015 by Nitya Sharma, Simpl is India’s fastest growing Buy Now Pay Later platform, and is on a mission to make payments invisible and money intelligent. Simpl is on a mission to empower merchants to build trusted relationships with customers, one transaction at a time. With more than 10,000 available merchants, 25 million users pan - India, Simpl envisions creating an inclusive digital payments experience for India that empowers and fosters trust between merchants and their customers.

Simpl is the leading Pay-Later platform in India, providing a full-stack solution for e-commerce conversion. It enables merchants to give their customers 1-click checkout, buyer protection and a pay-later facility to allow them to feel safe and trusted when shopping online. With Simpl, merchants are able to provide consumers an easy, safe and intuitive user experience.

About SugarBox Networks

SugarBox Networks is the world’s first Hyperlocal Edge Cloud platform that enables Users, Networks (ISPs, Internet Infra providers, etc.) and Digital Services (Apps, Websites, etc.) alike, to harness the power of Local Area Networks. With this technology at its heart, the company is reimagining connectivity for the underserved and unserved globally, in order to make internet accessible, affordable, and reliable for the masses, whilst being economically viable for the internet ecosystem.

SugarBox, co-founded by Rohit Paranjpe, Ripunjay Bararia and Devang Goradia in 2016, installs Edge Servers at places where users are present and prone to access digital services (POIs). These Edges are installed close enough to the users so that they can now be accessed via wired and wireless Local Area Networks, to reduce the amount of internet bandwidth required by users. This disruptive technology also enables Apps and websites to function seamlessly, even when the internet network is patchy or if the network goes off altogether for a while, using its patented technology. Read more about SugarBox here

Thursday, February 24, 2022

Rishabh Pant joins D2H as its Brand Ambassador

New Delhi, February 24, 2022: D2H, the leading DTH brand of Dish TV India Limited, today announced the signing of Indian cricketer Rishabh Pant as the new brand ambassador. Rishabh Pant will feature in 360-degree brand communication for the next two years.  

Commenting on the association, Mr. Anil Dua, Executive Director & Group CEO, Dish TV India Ltd, “We are delighted to have Rishabh Pant as brand ambassador for our D2H brand. Our brands are our biggest strength. This investment in the D2H brand is going to make it even stronger. The close affinity between D2H brand and Rishabh Pant as brand ambassador will enable deeper engagement of D2H with its TG.” 

Speaking on the partnership, Rishabh Pant said, "D2H is a large DTH brand with a long record of disruptive innovation in the industry. It is wonderful to be associated with D2H and looking forward to working closely with the team to take it to greater heights. "

Commenting on the new brand ambassador, Mr. Sugato Banerji, Corporate Head - Marketing, D2H, Dish TV India Ltd, said, "Rishabh has quickly developed into a distinctive entertainer on the cricket field, with his boundless energy behind the stumps and innovation in shot-making. He brings a spark each time he enters the field and appeals to the huge 18-35 age group across the country, our core audience. We see him as a strong fit with D2H Brand values. We are confident that this association with Rishabh will take the brand D2H to a stronger, more defined position within a short time through continuous investment in creating awareness and affinity."


D2H has a robust channel portfolio and effectively provides 24*7 customer support along with proper demo at the time of installation. Additionally, it will also deliver 61 HD Channels, a host of all popular regional channels under various attractive bouquets and offers, educational channels & content-rich active services for the customers from all age groups like Fitness Active, Ayushmaan Active, Dance Active, Thriller Active, Comedy Active, Kids Active & many more.


About Dish TV India Limited:

Dish TV India Limited is India’s leading direct-to-home (DTH) Company and owns multiple individual brands like Dish TV, Zing and d2h under its umbrella. The company benefits from multiple satellite platforms including SES-8, GSAT-15 and ST-2 and has a bandwidth capacity of 1134 MHz, the largest held by any DTH player in the country. Dish TV India Limited has on its platform more than 563 channels & services including 31 audio channels and 78 HD channels & services. The Company has a vast distribution network of over 3,100 distributors & around 2,80,000 dealers that span across 9,300 towns in the country. Dish TV India Limited is connected with its pan-India customer base through call-centres that are spread across 22 cities and are equipped to handle customer queries 24X7 in 12 different languages. For more information on the Company, please visit

Apollo Hospitals Group to enter the metaverse using 8chili HintVR™ platform

~First Collaboration of its kind for progressive healthcare~

Navi Mumbai, 24 February 2022: Apollo Hospitals Group has announced a unique collaboration with ‘8chili Inc’ to enable engagement in the metaverse, in the first-of-its-kind initiative. Virtual reality will provide an immersive experience that has been proven to increase patient engagement and skill mastery for hands-on training. 

Patient counselling pre/post-operation in virtual reality will help increase patient outcomes by bringing generic environments filled with relaxing “narratives” that will induce control over one’s own body and physiological response. It will also engage the users in virtual reality-mediated activities to empower their abilities to regulate emotion. This personalized approach to every patient will help result in higher patient satisfaction.

“At Apollo Hospitals we are constantly exploring ways to enrich and expedite the healthcare community, and the patient experience. Virtual Reality (VR) will change how both these things are done. 8chili is a leader in the VR space and we are excited to work with them to integrate VR solutions into our care continuum.” said Dr. Prathap C Reddy, Chairman Apollo Hospitals on this collaboration.

On this association Dr. Sangita Reddy, Joint Managing Director, Apollo Hospitals said, “People learn best by doing which is why healthcare is a natural fit for immersive VR training. Findings support the equivalence and superiority of VR training, the time to skill mastery, and the economic savings compared to traditional methods. Our need to train healthcare professionals to the Standard Operating Procedure (SOP) of care effectively and efficiently just keeps growing. We strongly believe 8chili’s platform helps us deliver VR immersive training at scale and efficiencies” 

“From the beginning, our focus has been to deliver a platform that makes it easier for organizations to tap into the full potential of the metaverse. HintVR™ is an end-to-end platform to manage your metaverse strategy helping in original 3D content creation, metaverse customization, and also delivery of this content across various metaverse real estates. We are very excited about working with Apollo Group Hospitals as this allows us to deliver the immersive experience to the millions of patients they serve.” said Mr. Aravind Upadhyaya, Founder, and CEO, 8chili 

Godrej Appliances launches wide range of made in India Air Conditioners with Smart IOT controls, 99.9% UV virus sterilization, advanced cooling and more

Godrej Appliances launches wide range of made in India Air Conditioners with Smart IOT controls, 99.9% UV virus sterilization, advanced cooling and more 

~ Projects more than double growth over last summer, meeting pre-covid levels


Mumbai, February 24, 2022: Godrej & Boyce, the flagship company of the Godrej Group, announced that its business Godrej Appliances, has launched its premium range of Air Conditioners with advanced cooling, air purification technology, IoT controls, differentiated aesthetics and more. These air conditioners provide smart controls to increasingly tech savvy consumers, along with comfort and safety through IoT, UVCool technology, Nano Coated Anti-Viral filtration, lower derating and more.

Higher internet penetration and increased access to smartphones has revolutionised consumer behaviour, and the pandemic has increased digital familiarity by leaps and bounds; thereby bringing in more demand for tech-enabled devices. To cater to consumer’s growing acceptance for smart ACs, Godrej Appliances has introduced its all-new Godrej Eon D series air conditioners and will also have these newer technologies incorporated in some of its other existing product range. These smart air conditioners are wi-fi enabled. The ACs are voice enabled with Alexa and Google Home compatibility. They can also be operated remotely through android smartphones to control temperature, fan speed, mode setting, schedule time as well as easy monitoring of the ACs’ health. It aims to provide comfort and convenience to consumers through remote scheduling and monitoring.

The pandemic has also brought about a greater focus on health and hygiene aspects in any product that consumers purchase. The all new UVCool Technology incorporated in Godrej ACs help to disinfect the air as well as the surfaces of objects such as fabric, wood, metal placed in the room where the AC is operational. The UV module is placed inside the AC on the evaporators which emits UVC rays in the range of 260-275nm. This is the optimal wavelength emitted from the UV module, enough to disinfect 99.99%* viral particles, bacteria, fungus and other air pathogens from the surface of the evaporator. Moreover, Nano Coated Anti-Viral filter eliminates 99.9%**+ viral particles from the air to provide safety to the consumers. 

Additionally, the heavy-duty rotary inverter compressor coupled with an electronic expansion valve and superior design provides faster and efficient cooling along with lower derating – ensuring superior cooling even at high ambient temperatures of 52°C. These ACs are available with combination of R290 & R32 refrigerants, that are eco-friendly with zero ozone depletion potential and lower global warming potential.

Commenting on the product launch, Kamal Nandi, Business Head and Executive Vice President – Godrej Appliances, part of Godrej & Boyce said, “In line with our philosophy of ‘Things Made Thoughtfully’, we are embracing new age technologies to deliver best-in-class solutions for our consumers. Our indigenous manufacturing expansion is helping us offer a wider AC portfolio to our consumers, with greater design possibilities. While summer sales for AC in 2021 was better than 2020 summer, however the business still hasn’t reached pre-covid levels. With the third wave practically over, vaccination drive covering a larger population and summer temperatures rising, we expect more than double growth in our AC sales this summer in comparison to last year.”

Adding further thoughts, Santosh Salian, Product Group Head, Godrej Appliances said, “Our foray into smart air conditioners and health & hygiene segment, is a testament to our commitment towards solving the needs of consumers by providing them with future ready products through latest technology. This summer, we are all set to offer a host of 21 new inverter split ACs all providing powerful cooling which has all along been our strength, along with Nano Coated Anti-Viral filter and UVC technology, IoT enabled smart controls, super-efficient ACs with high ISEER, durability and superior aesthetics.”

The Godrej Eon D series air conditioners are available in White, Copper and Rose Gold colour options across ecommerce platforms as well as offline pan India stores.

About Godrej Appliances: 

Godrej Appliances, a business unit of Godrej & Boyce, is one of the leading Home Appliances players in India. Godrej & Boyce was the first Indian Company in 1958 to manufacture Refrigerators and since then Godrej Appliances has expanded its portfolio across many other categories like Washing Machines, Air Conditioners, Microwave Ovens, futuristic Thermo-electric cooling solutions, Air Coolers, Deep Freezers, highly specialized Medical Refrigerators and more recently, UVC Technology-Based Disinfecting devices and Dishwashers, all powered by the driving philosophy of 'Things Made Thoughtfully’.

This thought extends from human-centric design to planet centric design. Environment is a core value at Godrej. Both manufacturing units of Godrej Appliances became the first in the country to win the coveted Platinum Plus Green Co certification for their pioneering green manufacturing practices. The brand takes pride in not just its carefully designed products and environment-friendly technologies, but also best in class after-sales service delivered through over 680 service centers and more than 4500 SmartBuddy service experts spread all over the country.

To learn more visit:



*Claim Based on clinically accepted UVC sterilisation. Achieved 99.99% sterilization of/from virus (MS2, Influenza), Bacteria (E. Coli, Anthrax spores, Microccocus candidus, Micrococcis luteus, Legionella pneumophila, mycobacterium tuberculosis) and fungus (Aspergillus sp, penicillium, Rhizopus) from the air conditioner evaporator fins in 1 minute of continuous exposure of UVC rays. Know more at For any additional information or query, you may reach us at

**Virus reduction measured on Nano coated filter surface by independent laboratory

Wednesday, February 23, 2022

Veena R. Srinivas, Chief Postmaster General, Maharashtra Circle released a Special Cover on Shri Sayed Haider Raza, the renowned artist on his birth centenary on 22.02.2022 at Piramal Museum of Art, Byculla, Mumbai.

Sayed Haider Raza (S. H. Raza), born in 1922, is one of India’s most renowned modern painters who accomplished incredible success around the globe during his career. He started his career as an artist in Bombay in 1943 and won the prestigious silver medal at the Bombay Art Society in 1944. From then on, he went to become the most important voice of Modern art in India. He was the founding member of the Progressive Artist’s Group in 1947 that paved the way for the modern art movement. He was considered one of the most prominent Indian painters of his generation. In his innovative abstract works, Raza often used concentric circles and geometric patterns which referenced the Tantric ideologies of Hinduism and Buddhism, while his representational paintings often depicted landscapes and urban scenes both in France and India. Apart from many national and international awards, Raza received India’s most prestigious awards Padma Shree in 1981, Padma Bhushan in 2007 and the Padma Vibhushan in 2013.

The following were also present in the function, Ms.Swati Pandey, Postmaster General, Mumbai Region, Mr. Ashvin E Rajagopalan, Director, Piramal foundation & Mr. Rajeev, Head of Communications, Piramal group. 

India Protection Quotient rises to 50 revealing strong financial security; tepid growth in life insurance ownership and awareness

Fourth edition of the survey highlights increase in term insurance ownership in Urban India

Key Findings of the Survey

Normalcy sets in, urban India’s priorities re- baselined to long-term objectives of children’s education & retirement planning

Most Covid-induced anxieties lessen, wellbeing becomes a key concern 

Rising security levels across all zones have led to an overall increase in Protection Quotient

Urban Indians realize their ‘real value’, evident in growing significance of sum assured while buying term insurance

1 in 4 urban Indians associate term plans with high premiums, other barriers include hidden clauses in T&C, challenges in refund in case of claims

More than half of urban Indians feel their term plan cover is insufficient; cover/sum assured, riders and customization become key term purchase parameters 

Millennials at par with non-millennials in term ownership 

Women at par with men in protection index, significant increase among women in security levels

Salaried segment notes improvement across all key indices, self-employed witnesses fall in term insurance ownership

23rd February 2022, New Delhi: Max Life Insurance Company Ltd. (“Max Life”/ “Company”) in partnership with Kantar today launched the fourth edition of the India Protection Quotient survey (IPQ)*. Conducted entirely online, the India Protection Quotient 4.0 surveyed 5,729 respondents across 25 Indian cities [between 10 December 2021 to 14 January 2022], making this one of the most comprehensive financial studies carried out during the recent wave of Covid-19. 

With increasing immunization coverage and a growing positive outlook beyond Covid-19, the ‘Protection Quotient’ of urban India has moved 3 points to 50, witnessing a gradual rise from previous IPQ editions. The trend line reflects a steady growth in the country’s overall financial protection that has led to prioritizing financial security over all aspects. 

The survey indicates a marginal increase in urban India’s knowledge index from 68 to 69, while the security index increased by 5 points to 56%.  Metros, Tier 1 and Tier 2 cities also witnessed an increase in the protection index, while Tier 2 saw a significant rise in life insurance awareness from 61 to 68. This indicates a strong potential in Tier 2 markets for life insurance adoption. 

Term insurance witnessed an uptake in the last two years, with ownership rising to a significant 43% from 39% last year. The survey also reflects an increased ownership of other life-insurance products amongst urban Indians such as savings and market-linked plans. 

Commenting on the launch of IPQ 4.0 survey, Prashant Tripathy, Managing Director and CEO, Max Life Insurance said, “The last two years have been indeed challenging due to the pandemic, but we also witnessed an upside with India developing financial resilience. This is evident from the insights in IPQ 4.0 that show a strong sense of financial security amongst urban Indians.” 

He further added, “Despite the positive movement, the survey also indicates key challenges for the industry that need to be addressed. While India has realized the real value of term insurance, existing barriers are limiting efforts to drive increased awareness and adoption till the last mile. The IPQ study will help us create customer-centric measures to resolve these issues, while enabling collective responsibility to build a higher level of trust with customers.”  

Soumya Mohanty, Managing Director and CCO, Kantar Insights, South Asia remarked on the findings of the survey, “India Protection Quotient is an important financial signifier for the country, especially in the current times. With IPQ 4.0, we have administered a complete digital survey across a robust sample that has given us unique insights on how urban India has financially evolved. The one key outcome that emerges from the survey, is the significant increase in security levels of the urban milieu. Despite the unprecedented impact of Covid-19, this is an important indication of the growing financial consciousness in the country. We are happy to be partnering with Max Life Insurance as it continues to drive importance of life insurance across the country and hope the survey findings can outline the way forward for the insurance industry.”  

Notes to the editor:

The following findings reveal insights that highlight urban India’s shift across financial priorities and anxieties studied by India Protection Quotient 4.0:


Life insurance ownership remains at 78%; investment seen in more diverse life insurance products

While the survey noted no change in the life insurance ownership from IPQ 3.0 Express, the respondents built a holistic portfolio by investing more in life insurance products including term (43%), market-linked (19%) and savings plans (39%).

South zone leads in protection index; trend also visible in metros, Tier 1 and Tier 2 cities 

IPQ 4.0 noted an increase in protection quotient for South zone from 49 to 51 followed by North (50), East (49) and West (49) zones respectively. Metros saw a significant rise in security levels from 48% (IPQ 3.0 Express) to 56% in this survey, while Tier 2 cities gained 7 points in awareness of life insurance products and reached 68. With increasing awareness about life insurance, the metros and Tier 1 and Tier 2 cities are gradually rising at par


Majority of Covid-induced anxieties lessen, wellbeing becomes a key concern

As per the survey, most of the Covid-related anxieties such as untimely death of the breadwinner and potential Covid-19 exposure reduced to 59% and 51%. However, personal well-being (62%) emerged as a key concern for urban India with the pandemic straining mental and physical health 

Urban India inching back to normalcy with refocus on children’s education and retirement. Savings & investments continue to grow  

A visible increase from IPQ 3.0 Express, 48% and 39% respondents are re-prioritizing their savings for children’s education and retirement planning. The focus has moved significantly from medical emergencies where 43% urban Indians, in comparison to 48% (IPQ 3.0 Express) are saving for unforeseen medical expenses. With sporadic lockdowns/restrictions continuing in the country, savings and investments further increased from 53% (IPQ 3.0 Express) to 56% in IPQ 4.0, with basic and luxury expenses reducing to 29% and 15%. 

Safety becomes the ‘most valued currency’ with 88% preferring safe financial products Safeguarding their future against market uncertainties, IPQ 4.0 saw 88% respondents preferring investments in fixed deposits and guaranteed income life insurance plans. 11% have preferred to invest only in market-linked products such as mutual funds, shares, stocks and ULIP.


‘Real value’ of life insurance strengthened - premium, value of cover and riders form key considerations during term plan purchase

71% respondents consider premium to be the most important parameter when purchasing term insurance followed by value of cover (68%) and riders or add-on benefits (52%). With the feeling of cover insufficiency increasing 3 times since IPQ 3.0 Express, a significant impact can be seen on term insurance ownership that has risen from 39% to 43% in IPQ 4.0 

South zone sees highest term insurance uptake; Tier 2 cities lag behind in ownership 

South demonstrated the highest term insurance ownership at 45%, a 6%-point increase from IPQ 3.0. Ownership increase was also witnessed in metros and Tier 1 cities at 48% and 44% respectively, however only 35% term ownership was seen in Tier 2 cities which require more efforts to build term adoption

Challenges hamper term ownership –  high premiums, claims refund and hidden clauses in terms & conditions pose as barriers 

The survey also raises key issues on term purchase where 25% urban Indians associate the plan with high premiums, 21% feel the policy has hidden terms and conditions and 21% attribute to challenges in receiving refund in case of claim settlement. The insights highlight the need for better awareness, education on term plan and its benefits 

Agent and online are key channels for purchase, human connect is still the preferred mode of communication for future ownership 

41% urban Indians purchase term plans through the insurance agent, while 35% make their purchase online, highlighting the importance of both ‘DIY’ and agent support for consumers. 78% respondents will prefer communicating with a customer service representative when buying term plan in the future, thereby reemphasizing the ‘human connect’ in financial services


Awareness for life insurance products among millennials and non-millennials was at par with 69. Realizing the importance of protecting their near and dear ones in these unprecedented times, term insurance ownership amongst millennials increased from 38% to 43%


The survey witnessed a marked increase in the knowledge index for women, from 67 (IPQ 3.0 Express) to 70. While life insurance ownership stood at 78% for both set of respondents, men continue to take the lead over women in term insurance with 44% ownership.


Protection quotient of salaried individuals increased from 47 to 53 in IPQ 4.0, overtaking the self-employed segment which remained at 49 owing to the Covid-19 impact on business continuity. Term ownership for the salaried segment increased from 39% (IPQ 3.0 Express) to 47% in IPQ 4.0, whereas for self-employed the ownership remains constant at 41%. 


The study is conducted in top 25 Urban metro, Tier 1 and Tier 2 cities; hence, its findings are representative of metro, Tier 1 and Tier 2 cities of Urban India only.

Metro – Delhi, Kolkata, Chennai, Bangalore, Hyderabad, Mumbai

Tier 1 – Ludhiana, Jaipur, Lucknow, Patna, Bhubaneshwar, Vizag, Ahmedabad, Bhopal, Pune

Tier 2 – Dehradun, Moradabad, Guwahati, Bokaro, Kolhapur, Jamnagar, Raipur, Ujjain, Hubli-Dharwad, Tiruchirappalli

IPQ 3.0 Express vs IPQ 4.0 (digital versions) data comparison is amongst 25 markets only [6 metros, 9 Tier 1 and 10 Tier 2]

The minimum sample to conclude any findings of the study is 270 with an error margin of +-5.964%.

*About India Protection Quotient 

Instituted in 2019, India Protection Quotient is an annual property by Max Life Insurance in association with Kantar aimed to understand the pulse of the Indian consumers in the financial protection space. Launched with the underlying objective to increase penetration of Term insurance as the most fundamental and economical form of life insurance, the survey aims to reveal the state of Urban Indians with regards to current financial security levels, changing savings & investment patterns, key anxieties & triggers of financial protection in a contemporary world.

India Protection Quotient is a proprietary tool developed by Max Life in partnership with Kantar to gauges the degree to which Indians feel protected from future uncertainties on a scale of 0 to 100. It is based on the attitudes, mental preparedness around future uncertainties, awareness, and ownership of life insurance product categories (Term, endowment and ULIP). 

About Max Life Insurance (  

Max Life Insurance Company Limited is a Joint Venture between Max Financial Services Limited and Axis Bank Limited. Max Financial Services Ltd. is a part of the Max Group, an Indian multi-business corporation.

Max Life offers comprehensive protection and long-term savings life insurance solutions, through its multi-channel distribution including agency and third-party distribution partners. Max Life has built its operations over almost two decades through a need-based sales process, a customer-centric approach to engagement and service delivery and trained human capital.  

As per public disclosures and annual audited financials for FY20-21, Max Life has achieved a gross written premium of INR 19,018 crore. As of 31st March 2021, the Company had INR 90,407 crore of assets under management (AUM) and a Sum Assured in Force of INR 1,087,987 crore. 

For more information, please visit the Company's website at

About Kantar: 

Kantar is the world’s leading evidence-based insights and consulting company. We have a complete, unique, and rounded understanding of how people think, feel and act; globally and locally in over 90 markets. By combining the deep expertise of our people, our data resources and benchmarks, our innovative analytics and technology, we help our clients understand people and inspire growth.