Max Life and Axis Bank aim to grow distribution strength in FY23

Celebrate 12 years of bancassurance partnership

 

New Delhi, May 31, 2022: Max Life Insurance Co. Ltd (“Max Life/ “Company”) and Axis Bank Ltd (“Axis Bank”) have completed twelve years of bancassurance partnership. On this milestone, the companies are aiming to enhance their distribution network in this fiscal.

 

In FY21-22, Axis Bank together with its subsidiaries have acquired 12.99% stake in the Company. The joint venture served as a milestone in Max Life’s journey towards empowering customers with holistic insurance products. The synergies have resulted in a strategic push towards selling products such as protection, which is the need of the hour for Indian consumers.

 

Leveraging the strong presence of Axis Bank’s 4,700+ branches pan-India, both companies have protected 23.8 lakh lives, by selling 28.4 lakh policies.This has resulted in Rs. 3,35,125 crore sum assured, till date. Together, Max Life and Axis Bank have deployed digital transformation journeys for customers to deliver better seller and customer experiences. As a result, the growth in Axis Bank’s Channel Sales stood at 14% Year-on-Year (YoY), topping Rs. 3,455 crores for FY22.

Over these twelve years, Max Life and Axis Bank have worked towards the ambition of becoming the most admired bancassurance partnership in India. This commitment reaffirms their joint belief in customer obsession to bring customer delight through expanded seller outreach, enhanced by building smart journeys and innovative solutions that will help increase life insurance penetration in the country.

 

Mr Prashant Tripathy, MD and CEO, Max Life, said, “Our decade-old relationship with Axis Bank is growing from strength to strength. With the bank as a co-promoter now, we are making swift progress in harnessing this partnership further and capitalizing on synergies that will enhance Max Life’s market position. Together, we are focused on offering an innovative product mix, powering the distribution channel, and deepening technology integrations for a seamless customer experience that will help drive the penetration of life insurance in India.”

 

Mr. Satheesh Krishnamurthy, Head - Private, Premium Banking and Third Party Products, Axis Bank, said, “Our thriving partnership with Max Life has been vital in promoting the significance of life insurance and protection across the nation. Together, we have invested extensively in curating customized products and imparting need-based sales trainings to bring consistency and productivity among our distribution teams. We are committed to work towards strengthening our strategies with a digital and customer-first approach, which in turn will make our partnership even stronger.”

 

About Max Life Insurance (www.maxlifeinsurance.com)

 

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 www.maxlifeinsurance.com

 

 

About Axis

 

Axis Bank is the third largest private sector bank in India. Axis Bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses. With its 4,758 domestic branches (including extension counters) and 10,990 ATMs across the country as on 31st March 2022, the network of Axis Bank spreads across 2,702 centers, enabling the Bank to reach out to a large cross-section of customers with an array of products and services. The Axis Group includes Axis Mutual Fund, Axis Securities Ltd., Axis Finance, Axis Trustee, Axis Capital, A.TReDS Ltd., Freecharge and Axis Bank Foundation.

 

For further information on Axis Bank, please refer to the website: https://www.axisbank.com

 

Flipkart clocks over 200 Million Fashion products in the Spring-Summer of 2022

 

Customers from across the country shopped for fashion products including metro cities, and emerging towns including tier 3, 4 and 5 cities that saw an increased participation during the spring-summer season A substantial number of overall customer base shopped for fashion products for the first time Sarees, men’s T-shirts, watches, sunglasses, women’s kurtis, footwear and jeans topped the demand chart

 

Bengaluru - May 31, 2022: As the Spring Summer season 2022 draws to a close, Flipkart, India’s homegrown e-commerce marketplace, has recorded a sale of over 200 million fashion products across close to 19,200 pin codes.

 

The Spring Summer Season also played a key role for customers and sellers and saw close to 175,000 fashion sellers participating. These sellers came from not just metros but from tier 2 and tier 3 towns as well. Customers shopped for fashion and lifestyle products including sarees, men’s t-shirts, watches, sunglasses, women’s kurtis and footwear, from national, international and homegrown fashion brands.

 

The season saw customers shopping for fashion products from across the country including metros and a majority of these customers also from tier 3, 4 and 5 cities shop for fashion products from cities like Ranchi, Ernakulam, Kanpur, Medinipur, Cuttack to name a few; and a substantial number of the overall customer base were first-time fashion shoppers.

 

Sandeep Karwa, Vice President, Flipkart Fashion, said, “We are extremely delighted with this overwhelming response from the customers, who consistently choose Flipkart for all their fashion and lifestyle needs. This year’s spring-summer season saw a resurgence in consumption on the back of renewed economic recovery post-pandemic and we are pleased that lakhs of sellers saw a phenomenal response during this season. It is also a testament to our efforts to bring unparalleled value in fashion shopping to our customers. With a range of technology-led innovations that are making shopping experiences personalised and seamless for our customers, we are bringing India and Bharat closer ushering in considerable growth opportunities for lakhs of sellers and brand partners.”

Ayush Baid, a Flipkart Fashion seller who sells Women's ethnic wear from Surat, Gujarat, said, “We have grown on Flipkart by 500% during the spring-summer season and this was possible due the technology and power of ecommerce. Growth on Flipkart has led to the overall growth of the company.”

Harish Dadwani, a Flipkart Fashion seller partner from Agra, Uttar Pradesh, said, “It has been 4 years since I joined ecommerce and through the Flipkart platform have seen a growth of over 10X since then. I had launched several new products in the spring-summer collection which has seen a 50X growth spike. I am very positive to set new milestones and garner new opportunities in the coming years and feel that I can achieve much more through ecommerce, technology and Flipkart.”

The spring-summer season saw boosted traction from cities including Bengaluru, Chennai, Gorakhpur, Guwahati, Hyderabad, Kolkata, Kochi and New Delhi. Furthering its endeavour of strengthening ecosystem partnerships and supporting regional brands and sellers, Flipkart Fashion saw participation from hundreds of made in India brands this season, which included sarees, men’s T-shirts, watches, sunglasses, women’s kurtis, footwear and jeans. The season saw tremendous growth for its fashion seller partners and boosted consumption from audiences across the country.

 

About the Flipkart Group

The Flipkart Group is one of India’s leading digital commerce entities and includes group companies Flipkart, Myntra, Flipkart Wholesale, Flipkart Health+ and Cleartrip.

 

Started in 2007, Flipkart has enabled millions of consumers, sellers, merchants, and small businesses to be a part of India's digital commerce revolution, with a registered customer base of more than 400 million, offering over 150 million products across 80+ categories. Our efforts to

democratize commerce in India, drive access and affordability, delight customers, create lakhs of jobs in the ecosystem, and empower generations of entrepreneurs and MSMEs have inspired

us to innovate on many industry firsts. Flipkart is known for pioneering services such as Cash on Delivery, No Cost EMI and easy returns – customer-centric innovations have made online shopping more accessible and affordable for millions of Indians. Together with its group companies, Flipkart is committed to transforming commerce in India through technology.

 

For more information, please write to media@flipkart.com

 

Hon’ble PM Shri Narendra Modi interacts with beneficiaries of public welfare scheme

Mumbai, May 31, 2022:

As a part of Azadi ka Amrit Mohatsav to commemorate the 75th year of Indian Independence, Hon’ble Prime Minister, Shri Narendra Modi will virtually engage with over 2,000 beneficiaries of various public welfare schemes on Tuesday, May 31 at BPCL Refinery Sports Club, Mumbai. 

Hon’ble Union Minister of State, Panchayat Raj, Shri Kapil Moreshwar Patil will grace the event. The primary objective of the interaction is to understand how these schemes have helped the beneficiaries in ease of living and improve on the execution front based on feedback received from the beneficiaries.

Around 2,000 beneficiaries of 13 Government of India schemes such as Pradhan Mantri Awaas Yojana Urban, Pradhan Mantri Kisan Samman Nidhi, Pradhan Mantri Ujjwala Yojana, POSHAN Abhiyan, Pradhan Mantri Matru Vandana Yojana, Swachh Bharat Mission, Jal Jeevan Mission & AMRUT, Pradhan Mantri SVANidhi Scheme, One Nation One Ration Card, Pradhan Mantri Garib Kalyan Anna Yojana, Ayushman Bharat PM Jan ArogyaYojana (PM-JAY), Ayushman Bharat Health and Wellness Centre and Pradhan Mantri MUDRA Yojana will be present at the ceremony to engage with Ministers and provide their feedback.

Along with the interactions, the event will also mark a milestone for more than 10 crore farmers who will receive their 11st installment under Pradhan Mantri Kisan Samman Nidhi. 

Pradhan Mantri Ujjwala Yojana

The scheme was launched on 1st May 2016 in Ballia, Uttar Pradesh by the Hon’ble Prime Minister of India, Shri. Narendra Modi. The objective of PMUY was to make clean cooking fuel such as LPG available to the rural and deprived households which were otherwise using traditional cooking fuels such as firewood, coal, cow-dung cakes, etc.

The target under the scheme was to release 8 Crore LPG Connections to the deprived households by March 2020 which was completed on 7th Sept 2019 when the Hon’ble Prime Minister of India handed over the 8th Crore LPG connection in Aurangabad, Maharashtra.

The event at Mumbai was coordinated by ICAR-Central Institute of Fisheries Education, Mumbai, ICAR-Central Institute for Research on Cotton Technology, Mumbai and BPCL, Mumbai.

L.I.C. of India declared Financial Results for the Financial Year 2021-2022.

 30/05/2022 PANINDIA

Mumbai, May 30th, 2022: The Board of Directors of Life Insurance Corporation of India (“LIC”) 

approved the standalone and consolidated financial results for the year ended March 31, 2022. 

Below are key highlights of our standalone results

For the year ended March 31, 2022, LIC registered an increase of 6.1 per cent in the Net Premium 

Income at Rs. 4,27,419 crore as compared to Rs. 4,02,844 crore in the previous financial year ended 

March 31, 2021. The Profit after Tax (PAT) for the full year ended March 31, 2022 was Rs. 4,043.12 

crore as against Rs. 2,900.57 crore for the year ended March 31, 2021, thereby registering an increase 

of 39.39 per cent. The Earnings Per share (EPS) for the financial year 2021 -22 was Rs. 6.39 per share. 

The Yield on Investments on policyholders funds excluding unrealized gains was 8.55 % for period 

ended March 31st, 2022 as against 8.69 % for year ended March 31, 2021. The Net NPAs in the 

policyholders fund declined to 0.04% for the year ended March 31, 2022 as compared to 0.05% for 

the previous year ended March 31, 2021. 

The solvency ratio for the year ended March 31, 2022 was 1.85 as against 1.76 for the period ended 

March 31, 2021. 

For the year ended March 31, 2022, the persistency ratios for the 13th month, 25th month, 37th month, 

49th month and 61st month were 75.59%, 73.47%, 66.58%, 63.85% and 61.00% respectively. 

The Board of Directors have also recommended a dividend of Rs. 1.50 per share translating to a 

dividend payout of Rs. 948.75 crore which aggregates to about 23.46 % of PAT. 

Though the year started on a muted note due to the Covid-19 pandemic, LIC was able to increase the 

marketing activities and ended the year with a significant growth of 18.70% in the quarter of Jan to 

March 2022 in Individual First year premium Income as compared to the corresponding quarter last 

year. LIC registered a growth of 6.31% in Weighted Received Premium (WRP) for the Financial Year 

ended March 31, 2022. LIC completed 2.17 crore of New Policies during the year with a growth of 

3.56% over the last year. The market share of LIC in individual policies was 74.60% for the financial 

year ended March 31, 2022. In the Group business the market share of LIC during year ended March 

31, 2022 was 89.07% by number of policies / schemes and 76.16% by first year premium. The market 

share of LIC as at the end of 31st March 2022 was 63.25% in composite First Year Premium income.

Further LIC maintained an agency strength at 1.33 million, a large share of whom are working in the 

rural areas of the country, thereby giving us a pan India presence across the various socio economic

segments. The average productivity per agent was 16 policies in financial year 2021-22 as compared 

to approximately 15 policies in financial year 2020-21.

OMRON Healthcare India announces strategic association with world’s largest free public blood pressure screening program ‘May Measurement Month (MMM)’

National, 30th May 2022: OMRON Healthcare India, one of the leading players in the digital home blood pressure monitoring segment, today announced support towards the #THEBIGSQUEEZE movement to bolster the ongoing ‘May Measurement Month (MMM)’ global campaign in India. 

This movement aims to encourage people of all ages to get their blood pressure checked in the world’s largest FREE blood pressure screening campaign. The objective is to heighten awareness about the dangers posed by elevated BP and hypertension and the importance of monitoring blood pressure regularly in India. 

The MMM global campaign is led by ‘International Society of Hypertension’. This annual program focuses on educating people about the impact of hypertension on their cardiovascular and cerebrovascular health. It also provides insights into diet and lifestyle advice for hypertensives and for facilitating improved follow up for sufferers. Volunteers in more than 85 countries will screen people in cities, towns, and rural villages as part of this largest FREE public blood pressure screening program in the world this year, between 01 May – 31 August 2022.  

As conveyed by Indian Medical Association, Hypertension kills 7.5 million people worldwide each year, which is more than AIDS, road accidents, diabetes, and tuberculosis combined. Often referred to as a "silent killer” because it gradually damages the heart, blood vessels, and other organs without any apparent symptoms, hypertension is the most common preventable cause of cardiovascular and non-communicable diseases throughout the world. 

Studies also indicate that 20% of young adults in India suffer from hypertension; 50% of those affected are unaware of their condition and only one fourth of the affected population is getting treatment. It is expected that more than 20 million Indians will be affected by hypertension by 2025.

Emphasizing the importance of monitoring the blood pressure regularly, Mr. Kotaro Suzuki, Managing Director, OMRON Healthcare India said, “India stands amongst the countries with one of the lowest rates of awareness and hypertension diagnosis in APAC. Reports highlight that hypertension is one of the most powerful modifiable risk factors for cardiovascular diseases; lowering blood pressure substantially reduces the risk of cardiovascular morbidity and mortality. Home blood pressure monitoring (HBPM) is recognized as a valuable tool to monitor blood pressure and facilitate effective detection & management of hypertension. Combined with right drugs treatment, it can play a significant role in reducing cardiovascular risk and prevent heart attacks and strokes among people with these conditions.”

“We are happy to continue our association with this global awareness campaign. This is in sync with our “Going for Zero” vision where we aim to create a society with ZERO cardiovascular events by strengthening preventive healthcare and early diagnosis via provision of quality digital blood pressure monitors. Our awareness initiatives are reaching out to tier 2 and 3 cities. We are conducting weekly health camps to provide free blood pressure check for consumers and are also enhancing the reach of our initiatives like OMRON Academy to educate consumers as well as healthcare professionals on the right usage of our blood pressure monitors at home.” Mr Suzuki concluded.

Sources : 

[1] : https://www.ima-india.org/ima/important-news.php?id=18

[2] : https://www.escardio.org/The-ESC/Press-Office/Press-releases/One-in-five-young-adults-in-India-has-high-blood-pressure#:~:text=Mumbai%2C%20India%2025%20Nov%202018,than%20the%20entire%20UK%20population

[3] : https://onlinelibrary.wiley.com/doi/full/10.1111/jch.14074

About OMRON Healthcare India: 

Committed to helping people live more active and fulfilling lives, OMRON Healthcare is a global leader in the field of clinically proven, innovative medical equipment for health monitoring and therapy. Throughout its history, OMRON Healthcare has been striving to improve lives and contribute to a better society by developing innovations that help people prevent, treat and manage their medical conditions, both at home and in clinical practice in over 110 countries.

The OMRON Healthcare Group, headquartered in Kyoto, Japan, provides World’s No.1 blood pressure monitors (Global Home Appliance Market Comprehensive Survey 2020 by Fuji Keizai Co.,Ltd.(2019)). The company’s additional core product categories are respiratory care, pain management devices, and wellness products. It also develops and activates remote patient monitoring service in the field of cardiovascular condition management. 

Established in 2010, OMRON Healthcare India has established itself a key player in the health monitoring segment in the country providing high quality blood pressure monitors, respiratory therapy devices, body fat monitors, digital thermometers, pain management devices, etc. 

To learn more, please visit: 

https://www.omronhealthcare-ap.com/in;  

https://www.omronbrandshop.com/

      

Jupiter Meta Launches NFTs for Social Change

• To relay 50% of the proceeds of NFTs listed by artists to the Akshaya Patra Foundation

CHENNAI, 30 May 2022: To use its platform to drive social change, Jupiter Meta, an integrated Web 3.0 entity, has launched art NFTs on its digital marketplace to inspire people to be catalysts for social change by channelling a percentage of the sales to social upliftment. In a first in the country, Jupiter Meta has curated a list of NFTs in collaboration with four artists. There are 22 digital art pieces to choose from on the Jupiter Meta marketplace, priced between INR 6,000 and INR 12,000, and 50% of proceeds from each NFT sale will go to a not-for-profit cause: currently—the Akshaya Patra Foundation. Jupiter Meta will eventually partner with more NGOs for this cause.

Along with the art NFT being deposited in their wallet, users will get a zero-value social token badge, which will also be given to the artist making the sale. These tokens generate plenty of social value and can be displayed on social media, used as a sticker, or even be sent as a message asking others to participate in the program.

Speaking on the decision to integrate technology and art to elevate fundraising and make it more involved and personal, Rambabu Kaipa, CTO of Jupiter Meta, who’s also an artist, said, “Understanding the obstacles to mobilise funds for a cause and overcoming them through technology-enabled solutions adds value to the digital ecosystem and creates on-ground impact. We want to unite people and their stories through the language of art and realise its potential to touch people personally.”

As a fully curated marketplace, Jupiter Meta has already held programs focused on forging meaningful societal impact. An example is its ‘Icons of Singara Chennai’ wall art project, beautifying public spaces in Chennai and aimed at bolstering the creator ecosystem. 

The latest project is part of the company’s continued effort to break the perception of NFT marketplaces as merely a medium of trade.

Commenting on the project, Manasa Rajan, CEO of Jupiter Meta, said, “Our vision for Jupiter Meta goes beyond being a mere marketplace. Creating actual, quantifiable impact through initiatives that have the power to improve lives is a huge element of our focus. We’re glad to connect artists with a social cause and allow their ideas to transcend the medium.”

Jupiter Meta will bridge the artist and buyer, simultaneously contributing to social change and engineering transformation. The company hopes to set a precedent, encouraging musicians, artists, sportspeople, and other personalities to use NFTs to create a positive impact and reach as many people as possible. 

 

About Jupiter Meta 

Jupiter Meta is an integrated Web 3.0 entity, which is also India’s first fully curated NFT marketplace. Founded in 2021 by industry veterans Sathyan Rajan and KC Reddy, Jupiter Meta will allow users to buy, sell, and trade NFTs, across a range of segments like music, cinema, art, sports, and gaming, with a built-in metaverse to provide personalised, immersive digital experiences. The company aims to expand the notion of the metaverse in India and include everyone as part of a seamlessly connected digital reality. Running on its own 100% secure, green, sustainable level-1 blockchain technology with zero gas fees, Jupiter Meta ensures users have a fast and safe experience. Marketplace users can also easily transact through INR cash payments via UPI without the need for a crypto wallet.

Social Media:  IG, Twitter, Linked

EXCEPTIONAL EXPERIENCES AWAIT SINGAPORE AIRLINES CUSTOMERS AT ALL-NEW SILVERKRIS AND KRISFLYER GOLD LOUNGES

Singapore Airlines (SIA) today unveiled its all-new flagship SilverKris and KrisFlyer Gold lounges at Singapore Changi Airport Terminal 3, following a S$50 million re-design, upgrade, and expansion project. This will further enhance the on-ground customer experience at the Airline’s main hub, and comes as the demand for international air travel from and through Singapore takes off once again. 

The Private Room, the First Class section of the SilverKris Lounge, the Business Class section of the SilverKris Lounge, and the KrisFlyer Gold Lounge can collectively accommodate around 1,150 customers within their 6,100 square-metres, translating to 30% more seats and space. This also doubles the capacity that was available during the pandemic while the upgrading works were going on. 

The Airline has created a sanctuary that has been thoughtfully designed to enhance the comfort and convenience of diverse groups of travellers, and meet their evolving needs in the coming years. Customers will be able to enjoy world-class products and services, as well as enticing food and beverage options, around the clock at the lounges before their flight. 

Mr Goh Choon Phong, Chief Executive Officer, Singapore Airlines, said: “Extensive customer engagement and research have gone into the design of the new SilverKris and KrisFlyer Gold lounges. Customers will enjoy thoughtfully curated product offerings and experience the signature Singapore Airlines hospitality, all within a comfortable and restful environment, ensuring that they are refreshed and ready for their journey. 

“Opening these lounges at this time signals our commitment to SIA’s premium brand and growth strategy. It reinforces our position as Changi Airport’s anchor airline, and reflects our confidence in Singapore’s future as a pre-eminent global air hub.”

Working with renowned Singapore-headquartered hospitality design firm Hirsch Bedner Associates, SIA has redeveloped the SilverKris and KrisFlyer Gold lounges by incorporating contemporary finishes and modern amenities, while embodying a timeless elegance. Customers will feel at ease the moment they enter the lounges, knowing that they can enjoy SIA’s world-class service and products even before their flights. 

The Private Room is the most exclusive space within the SilverKris Lounge. It is dotted with elegant design elements that exude luxury, such as the custom-designed Lalique light dome that welcomes every customer at the lobby. With a capacity for 78 Suites and First Class customers, it includes well-appointed booth seats and day rooms that are conducive for work and rest. The Private Room also offers a full fine dining experience, with exquisite cuisine and beverage options.

Solitaire PPS Club members, as well as Suites and First Class customers, enjoy access to the SilverKris Lounge’s First Class section, which offers many cosy seating and resting options. This includes the new day rooms that deliver a high level of privacy, which come with either a recliner or a Tempur Zero Gravity bed with a Supreme Firm mattress. The live cooking station offers many all-time favourites including bak chor mee, pastas, and a variety of breakfast egg options. The popular bar is decked with Lalique crystal flowers inspired by Aquatic Ginger, a flower in SIA’s signature batik motif. It now features an even wider selection of beverages, including fresh barista-made coffee in the morning and signature cocktails in the evening.  

The Business Class section of the SilverKris Lounge is 20% larger, with Business Class customers and PPS Club members spoilt for choice with four distinct seating sections. These include a quiet rest area to catch some shut-eye, a main dining hall with an extensive self-service buffet, a living room area with sofa seats and productivity pods, as well as an open concept courtyard-style area that offers light bites for the traveller on-the-go. These choices give our customers the flexibility to work, dine, or rest in comfort, whether they are travelling alone or with companions and loved ones. A new full-service bar, with a barista in the morning and bartender service in the evening, allows customers to enjoy their favourite brew or tipple with a view of aircraft taking off and landing. 

At double the size than before, the KrisFlyer Gold Lounge has an open and contemporary design with an expansive view of the airport runway. In response to customer feedback, the lounge now includes an expanded dining area and open concept working spaces, as well as dedicated restrooms and shower facilities. Customers can enjoy a wide variety of meal and drink options including favourites such as laksa, chwee kueh, and freshly steamed dim sum. 

Further details on the design and features of each lounge may be found in the backgrounder. High resolution images and videos are available at https://bit.ly/3lUfqGk. 

The Private Room and the First Class SilverKris Lounge will welcome customers from 31 May 2022, 1800hrs (GMT+8), while the Business Class section of the SilverKris Lounge and KrisFlyer Gold Lounge are now open.

NABARD AIMS TO INSPIRE PEOPLE IN COLLABORATION WITH MUMBAI INTERNATIONAL FILM FESTIVAL

 

Documentaries created by students from famous institutes such as the Shrishti Films, Amruta School of Communications and others will be screened during MIFF 2022

 

Mumbai, 30th May 2022: The National Bank for Agriculture and Rural Development (NABARD) has worked relentlessly from its inception to address the challenges of rural India and farming communities. A special screening of 23 documentaries will be held in partnership with the Mumbai International Film Festival (MIFF), out of which 12 were screened today.

 

Climate change, water, the rural market, NABARDS success stories, and other issues confronting rural communities will be addressed in the documentaries on display. To give just a few examples of short films,  'Water for the Future' depicts how NABARD has helped people in Bhiwani district, Haryana, overcome water scarcity and ensure surplus water, 'Coconut Story Success' depicts the success of a NABARD-supported coconut processing unit in Kannur district, Kerala, and 'In Loom A Film' depicts how a NABARD-supported project under the 'Revival, Reform, and Reconstruction Package' has helped sustain livelihood and increase income of weavers and artisans in Manipur.

 

NABARD, in collaboration with MIFF, has organized the 'SCRIPT SYNOPSIS COMPETITION 2022,' which is open to all, including students, filmmakers, and others. The script will be judged by film division juries, and the winners will be announced on the festival's final day, June 4, 2022. The competition's themes are rural development, rural women on the move, and Indian farmers adopting technology.

 

Students from film schools who are passionate about making films are welcome to associate with the organization and help in documentary production. In the past, NABARD has worked with students who aspire to make a career in filmmaking from notable institutions.

 

Talking about NABARDS' journey of producing documentaries on our successful projects started in 2014. Commenting on the same, Shri. Pradeep Mehrotra, Chief General Communication Department, NABARD, stated, “We realized that films are also becoming learning platforms. And I am thankful to MIFF for giving us this platform. Connecting with millennials gives us an opportunity to make them aware of rural India, as they are the future of our nation. Also, there was a need to tell the world about the NABARD's stories of development, stories of grit and resilience, stories of hope and inspiration. We were convinced that these stories would inspire many, many others to break the shackles of the status quo and encourage them to eye for a better tomorrow.”

 

Hundreds of short movies/documentaries from across the country demonstrate the government's efforts displayed through its excellent programmes. They have a dedicated YouTube channel- 'NABARD Online’ where one can watch all the documentaries made by them

 

The Indian Cancer Society’s Youngest Unit Of The Survivorship program, ‘UGAM’ Organised A Cricket Match to celebrate Life on prelude to the World Cancer Survivor day

Mumbai, India - May 29, 2022: The Indian Cancer Society (ICS), India's first voluntary, non-profit, national  organization for awareness, detection, cure and survivorship of those affected with cancer organised a ‘UGAM  Cricket Match’ on 29th May 2022 at the Mahim Juvenile Sports Club. It was one of its many initiatives to spread  the message stating, ‘Childhood Cancer is Curable’ under the youngest unit of theirsurvivorship program, UGAM  - a support group formed by childhood cancer survivors from the After Completion of Therapy (ACT) clinic of  Tata Memorial Hospital, with an aim to empower the cancer survivors. 

Returning to normalcy post the COVID-19 outbreak, the match witnessed a high-spirited on-ground participation  of more than 50 victors. A week ahead of the ‘Cancer Survivors Day’ which is observed on the first Sunday of  June each year, a zestful game of cricket was played amongst the exemplary Gen Z and Millennial warriors aged  between 15 to 35 years who’re now settling in life having overcome the disease.  

With an aim to provide empowerment to the survivors of childhood cancer and as a mark of celebrating life, the  cricket match was graced by the celebrated cricketer, Mr. Pravin Tambe as the chief guest addressing a gathering  of cancer patients as well as survivors who see UGAM as a beacon of hope for their sterling work in order to  fight cancer across India.  

“UGAM was solely established to create awareness about the curability of childhood cancer. For the same, we  organise various activities annually that aid in empowering the survivors, educating the masses and being an  emotional pillar for children with cancer. The Cancer Victors Cricket match was one of such initiatives to help  millions of childhood cancer survivors build up their life . Ugam is now expanding its wings to include survivors  from other Mumbai based hospitals . Ugam would also increase footprints in other cities soon” said Dr. Purna  A. Kurkure, Convenor, UGAM- Childhood Cancer Survivors Support Group, Indian Cancer Society 

About Indian Cancer Society 

The Indian Cancer Society (ICS) was founded in 1951 by Dr. DJ Jussawala and Mr. Naval Tata as India’s first non profit organization for cancer. The activities of Indian Cancer Society encompass the entire continuum of cancer  care, cancer awareness, screening for early detection, and financial help for treatment, support groups,  rehabilitation of cancer survivors, medical, research and education including registry. 

About UGAM  

UGAM is a voluntary support group of Indian Cancer Society which has been formed by Childhood Cancer  Survivors from the After Completion of Therapy (ACT) clinic of Tata Memorial Hospital, inspired by the survivors  from across the globe with whom they interacted during the International Society of Pediatric Oncology (SIOP)  meeting in October 2007. UGAM was formally launched on 7th June 2009, first Sunday of June celebrated as  Cancer Survivors Day across the world. For more details log on to www.indiancancersociety.org or dial on the  helpline 1800-22-1951

Decimal Point Analytics raises 35 crore funding through a Large Global Institutional Investor

-              The company plans to leverage its strengths to develop and market SaaS based products through a wholly-owned subsidiary 

MUMBAI – May 27, 2022: Decimal Point Analytics (DPA) a rapidly growing provider of Data Analytics products and services, announced today its strategic investment of 35 crores by a large global institutional investor. DPA’s expertise in the Finance and Technology domains enables it to build a cutting-edge bespoke solution in Financial Research and Data Analytics for its clients across the US, UK, Europe, India, Middle East, and South Africa.

The Company has aggressive plans to leverage its strengths to develop and market SaaS based products over the next couple of years. through its wholly-owned subsidiary, DPA Smart Cloud, at IFSC, Gift City, Gandhinagar. The services proposed under DPA Smart Cloud are expected to serve a wide range of financial services firms and provide them access to better quality services at a lower cost, along with benefits that come as part of the Cloud solution.

Shailesh Dhuri, CEO, Decimal Point Analytics says, “Over the past years Decimal Point Analytics' ability to bring AI and ML in financial research has helped extensively for transition to the new paradigm and see the growth momentum continuing in ESG and related field. With the investments, we are looking to expand our services in risk management, catastrophe modelling, actuarial services, and others. Using the latest and innovated technology will enable our clients to achieve significant enhancement through quality, timeliness and efficiency.”

He further adds, “We have tripled our staff strength till May 2022. Revenues are on track for the last 36 months and have achieved strong growth milestones even before external capital infusion. We are confident that will double our growth every year. Along with this, in the coming years will plan our IPO as well.

Paresh Sharma, Managing Partner for Advanced Technologies of Decimal Point Analytics said, “We have seen a strong shift towards Smart Cloud Solutions, the next generation of cloud-based solutions, which enable extracting value from intrinsic strengths of cloud by incorporating AI and ML in the process flow of data analytics itself, thereby reducing the time to market by significant margins. Decimal Point Analytics is building such smart cloud solutions and this infusion of investment will help us accelerate the transition to tomorrow’s solutions today.”

Gaurav Gupta, Managing Partner and Head of Business Development at Decimal Point Analytics, said, “Our global customer relationships have been built and reinforced on the back of robust and creative solutions that address key areas of business challenges faced by them. Our effort is to keep looking at resulting business challenges and technology that will be of importance to our customers in a fast-changing and dynamic world.”

With a team of about 500 employees, DPA has delivery offices in Mumbai, Nashik and Gandhinagar in India and marketing offices in the UK and the US.

About Decimal Point Analytics

DPA was formed in 2003 by senior professionals from the Indian Capital Markets, and is a global provider of Research and Data Analytics products and services, including Machine Learning and Artificial Intelligence based solutions. Key client categories include Data Providers, Asset Management Companies, Private Equity Firms and Hedge Funds, Banks and Insurance Companies and Broking Houses. DPA’s background and understanding of Financial Research and its strengths in Technology provides it an edge in understanding and solving client problems effectively

Reliance General Insurance Introduces the Power of Choice in Health Insurance; Launches the Most Flexible and Customisable Medical Policy – Reliance Health Gain

Introduces 3 plans - Plus, Power and Prime & a bouquet of 38 new-age features to cater to evolving medical requirements

Industry-best features:

• Double Cover on same claim 

• Unlimited reinstatement of Base Sum-insured 

• Guaranteed Cumulative Bonus 

• Reduce Pre-Existing Disease Waiting Period 

• Modern Treatment up to 100% of sum insured

• Wide sum-insured option 3 lakhs to ₹1 crore 

• Hospital Cash & Consumable Cover

• Upgrade hospital room rent limits   

• Loyalty benefits on Year-on-Year renewal (over and above sum insured limit)

• Covers up to 12 family members in the same family floater policy

Mumbai, 27th May 2022: Reliance General Insurance Company Ltd. (RGICL), one of India’s leading Private General Insurance Companies, launches the most flexible and customisable health insurance policy – Reliance Health Gain. The policy offers customers an opportunity to design their health insurance policy by choosing features as per their need and paying only for what they choose. RGICL has brought out three different plans - Plus, Power and Prime – and an array of features to facilitate customisation of policy for each customer. With this launch, Reliance General aims to address the evolving and unique medical needs of modern-day customers of all age groups. 

Reliance Health Gain comes loaded with 38 industry leading features like Double Cover that provides twice the amount of sum-insured to be used during same claim; Unlimited reinstatement to restore the base sum insured amount as many times as it gets exhausted during a policy year; Guaranteed Cumulative Bonus, that protects loss of cumulative bonus post claim; or the benefit to reduce Pre-Existing disease waiting period from 3 years to 2 or even 1 year. With many more such benefits, the product has been designed keeping in mind the modern health-insurance consumer.

Excited about the launch, Rakesh Jain, the Chief Executive Officer, RGICL, said, “Consideration towards health insurance has seen a rapid surge as an aftermath of the pandemic, people are more aware about modern treatments and rising healthcare costs. But choosing the right insurance cover is still a problem most customers face. With the Reliance Health Gain Policy, we want to give customers the ‘Power of Choice’, so that they can design their health insurance as per their needs. We are positive that Reliance Health Gain Policy will empower customers with choices and help them take control over their health insurance policies. ‘Make your own policy’ is a futuristic model as it is aimed to bring greater transparency and enhanced trust.”

Whether aspirer, affluent or elite - this specially designed policy offers wide range of sum-insured options from 3 lakhs to ₹1 crore creating an appeal for all-income groups. Customers between the age of 18 to 65 years have the options to pick and choose any features at any sum-insured. Besides, there is no age limit in this policy for a sum-insured of up to ₹3 lakhs. Hence, senior citizens who are sometimes devoid of a medical policy, can easily opt for Health Gain for protection. Additionally, the policy offers a unique feature wherein a customer can cover a family of up to 12 including extended family members like father-in-law/ mother-in-law in the same family floater policy, enabling joint families/Hindu Undivided Families (HUF) to opt for a floater policy that fits all in the family.

The policy has further introduced unique discounts like rewarding healthy customers under 50 years i.e., without any pre-existing condition, with a 15% discount on premium for buying a long term 2/3-year policy. Promoting their support towards young women, customers can also avail a 5% discount for insuring girl child or if the proposer is female. Reliance Health Gain Policy also comes with a Zone-wise pricing model to ensure that customers pay premiums only as per the average medical cost of the city/town they live in. 

The policy plan is built in a way that gives customer’s independence to choose what they want, and pay for only what they choose, thus redefining a new way of buying health insurance in the country and making it extremely cost-effective for masses. The Reliance Health Gain policy can be bought for 1, 2 or 3 years policy tenure from the company’s website (www.reliancegeneral.co.in), 67000 intermediaries and 128 branch office across the country.

About Reliance General Insurance

Reliance General Insurance, a part of Reliance Capital, is one of India’s leading general insurance companies. The Company offers a well-rounded and comprehensive bouquet of products including Motor Insurance, Health Insurance, Travel Insurance, and Home Insurance. It provides customised solutions to meet the protection needs of each customer. Reliance General Insurance has a growing network of 8500+ hospitals. It also has a robust network of more than 67,000 intermediaries and 128 branch offices across India for offering its products and services to retail, corporates, and SME clients. 

www.reliancegeneral.co.in | www.facebook/RelianceGenIn | @RelianceGenIn

LIC of India introduces LIC’s Bima Ratna (Plan 864)

Life Insurance Corporation of India introduced a new plan Bima Ratna with effect from 

27.05.2022 which is Non Linked, Non-participating, Individual, Savings Life Insurance Plan 

which offers a combination of protection and savings. It is a Limited Premium paying, 

Money Back Plan with Guaranteed Additions.

The plan is available for a term of 15, 20 and 25 years. Premium Paying term is 4 years less 

than Policy term. Plan provides 25% of Basic Sum Assured as Survival Benefit at the end of 

each year for the last two years of policy term (T-2 & T-1) , provided the policy is in force

and on maturity balance 50% of Sum Assured is payable along with Guaranteed Additions. 

The Guaranteed Additions shall increase in steps with the duration of the policy. The plan 

provides financial support for the family in case of unfortunate death of the Life Assured 

during the term of the policy after the commencement of risk. The Sum Assured on Death 

is higher of the 125% of Basic Sum Assured or 7 times of annualized premium and 

shall not be less than 105% of total premiums paid excluding Taxes, any extra premium and 

premium paid for riders.

The plan also takes care of liquidity needs through loan facility. Optional riders are available 

under this plan on payment of additional premium subject to conditions. Settlement option is 

available to receive maturity/death benefit in instalments over a period of 5 years instead of 

lump sum under an inforce as well as paid up policy.

The minimum Sum Assured under this plan is Rs.5 lakhs and can be increased on multiples 

of Rs.25000/-. There is no limit for maximum Sum Assured. The minimum age at entry 

ranges from 90 days to 5 years depending upon chosen Policy term. The plan is available 

for purchase only through LIC’s Corporate Agents (including Banks), Insurance Marketing 

Firms (IMF), Brokers, CPSC-SPV and POSP-LIs engaged by these intermediaries. 

Dated at Mumbai on 2 7

t h M a y 2 0 2 2 .

For Further Information please contact: Executive Director (CC)

LIC of India, Central Office, Mumbai. Email id:ed_cc@licindia.com

Visit us at www.licindia.in

“Nuclear deterrence will safeguard Japan's interests" Japan’s former Prime Minister: Shinzo Abe

WION News exclusive interview at the Quad Summit with Japan’s former Prime Minister: Shinzo Abe

National, May 27th, 2022:  WION – India’s first and only international news channel, spoke exclusively to Japan’s former Prime Minister, Shinzo Abe as part of the channel’s flagship Global Leadership Series hosted by Palki Sharma Upadhyay, Managing Editor of WION. 

Abe said Joe Biden's statement on defending Taiwan in the event of an invasion by China, marks a shift in America’s Taiwan policy. Mr Abe said he believes Biden meant what he said and that this statement reflects a change in America's strategic ambiguity policy on Taiwan.

Abe said "This is a comment given directly by President Biden. And he talked about the US's commitment to defend Taiwan. Even though the White House came out and denied it - saying that it is the same policy. But I think essentially what President Biden had said was the truth and it was a message to China." 

He further added "On the very point that the White House came right out saying our policy has not changed - the fact that they clarified that right after President Biden's comment gives us a signal that the US is starting to look at changing the policy."

Abe stated that the White House's clarification was probably meant to downplay the significant policy change. "If the US were in a position to intervene, then China may have to give up its idea of annexing Taiwan", said Abe. He added that if China cannot militarily defeat Taiwan, it will try to destabilise the island's economy and politics.

The statement comes in the background of the Quad Summit being held in Japan. The Quad or the Quadrilateral Security Dialogue is a group made of four nations, India, Japan, the US, and Australia. It is a strategic forum that features semi-regular summits, information exchange, and military drills. 

On being questioned about the possibility of Japan hosting US’ nuclear missiles, Abe responded in the affirmative. "Nuclear deterrence will safeguard Japan's interests", said Abe.

The former prime minister also spoke about his long association with India’s Prime Minister Narendra Modi, calling him “a quick decision-maker, and a leader who gets things done.” He focused on Japan's relationship with India which is older than its relationship with the USA. He concluded the conversation reiterating that the partnership with India is that of "maximum potential."

About Zee Media corporation limited

Zee Media Corporation Limited (formerly Zee News Ltd.) is India's one of the largest News Network with 14 news channels in 8 different languages touching more than 410 Million viewers at India 2+ during March ’22 and digital properties like Zeenews.com, dnaindia.com, india.com and others.

Reliance General Insurance Introduces the Power of Choice in Health Insurance; Launches the Most Flexible and Customisable Medical Policy – Reliance Health Gain

Introduces 3 plans - Plus, Power and Prime & a bouquet of 38 new-age features to cater to evolving medical requirements

Industry-best features:

• Double Cover on same claim 

• Unlimited reinstatement of Base Sum-insured 

• Guaranteed Cumulative Bonus 

• Reduce Pre-Existing Disease Waiting Period 

• Modern Treatment up to 100% of sum insured

• Wide sum-insured option 3 lakhs to ₹1 crore 

• Hospital Cash & Consumable Cover

• Upgrade hospital room rent limits   

• Loyalty benefits on Year-on-Year renewal (over and above sum insured limit)

• Covers up to 12 family members in the same family floater policy

Mumbai, 27th May 2022: Reliance General Insurance Company Ltd. (RGICL), one of India’s leading Private General Insurance Companies, launches the most flexible and customisable health insurance policy – Reliance Health Gain. The policy offers customers an opportunity to design their health insurance policy by choosing features as per their need and paying only for what they choose. RGICL has brought out three different plans - Plus, Power and Prime – and an array of features to facilitate customisation of policy for each customer. With this launch, Reliance General aims to address the evolving and unique medical needs of modern-day customers of all age groups. 

Reliance Health Gain comes loaded with 38 industry leading features like Double Cover that provides twice the amount of sum-insured to be used during same claim; Unlimited reinstatement to restore the base sum insured amount as many times as it gets exhausted during a policy year; Guaranteed Cumulative Bonus, that protects loss of cumulative bonus post claim; or the benefit to reduce Pre-Existing disease waiting period from 3 years to 2 or even 1 year. With many more such benefits, the product has been designed keeping in mind the modern health-insurance consumer.

Excited about the launch, Rakesh Jain, the Chief Executive Officer, RGICL, said, “Consideration towards health insurance has seen a rapid surge as an aftermath of the pandemic, people are more aware about modern treatments and rising healthcare costs. But choosing the right insurance cover is still a problem most customers face. With the Reliance Health Gain Policy, we want to give customers the ‘Power of Choice’, so that they can design their health insurance as per their needs. We are positive that Reliance Health Gain Policy will empower customers with choices and help them take control over their health insurance policies. ‘Make your own policy’ is a futuristic model as it is aimed to bring greater transparency and enhanced trust.”

Whether aspirer, affluent or elite - this specially designed policy offers wide range of sum-insured options from 3 lakhs to ₹1 crore creating an appeal for all-income groups. Customers between the age of 18 to 65 years have the options to pick and choose any features at any sum-insured. Besides, there is no age limit in this policy for a sum-insured of up to ₹3 lakhs. Hence, senior citizens who are sometimes devoid of a medical policy, can easily opt for Health Gain for protection. Additionally, the policy offers a unique feature wherein a customer can cover a family of up to 12 including extended family members like father-in-law/ mother-in-law in the same family floater policy, enabling joint families/Hindu Undivided Families (HUF) to opt for a floater policy that fits all in the family.

The policy has further introduced unique discounts like rewarding healthy customers under 50 years i.e., without any pre-existing condition, with a 15% discount on premium for buying a long term 2/3-year policy. Promoting their support towards young women, customers can also avail a 5% discount for insuring girl child or if the proposer is female. Reliance Health Gain Policy also comes with a Zone-wise pricing model to ensure that customers pay premiums only as per the average medical cost of the city/town they live in. 

The policy plan is built in a way that gives customer’s independence to choose what they want, and pay for only what they choose, thus redefining a new way of buying health insurance in the country and making it extremely cost-effective for masses. The Reliance Health Gain policy can be bought for 1, 2 or 3 years policy tenure from the company’s website (www.reliancegeneral.co.in), 67000 intermediaries and 128 branch office across the country.

About Reliance General Insurance

Reliance General Insurance, a part of Reliance Capital, is one of India’s leading general insurance companies. The Company offers a well-rounded and comprehensive bouquet of products including Motor Insurance, Health Insurance, Travel Insurance, and Home Insurance. It provides customised solutions to meet the protection needs of each customer. Reliance General Insurance has a growing network of 8500+ hospitals. It also has a robust network of more than 67,000 intermediaries and 128 branch offices across India for offering its products and services to retail, corporates, and SME clients. 

www.reliancegeneral.co.in | www.facebook/RelianceGenIn | @RelianceGenIn

Media contacts

Reliance General Insurance | Soumita Ghorui | soumita.ghorui@relianceada.com | +91-7044729799 

Plus App wins ‘The Best Influencer Marketing Platform’ award at Customer FEST Leadership Award 2022

 The Lubrizol Corporation’s FlowGuard® 

Mumbai, May 27, 2022: Lubrizol Advanced Materials, Inc., inventors and the largest manufacturers of CPVC compound worldwide have won the Best Influencer Marketing Platform Award for its unique FlowGuard® Plus App at the 15th Edition of the Customer FEST Leadership Awards 2022. The award was received by Ms. Pooja Shetty, Head Marketing and Communication – South Asia, TempRite® Lubrizol along with the TempRite® India team.

The Customer FEST Leadership Awards is conceived and managed by KamiKaze, a leading B2B conference organizer. Renowned industry veterans from leading organizations across the country including American Express, ABSLI, Kotak Mahindra, Edelweiss, Zendesk amongst others were part of the jury to pin down the revolutionary marketing initiatives spanned across Digital, CRM, Customer Loyalty, Influencer Marketing and Channel Marketing segments.

The Customer FEST Leadership Awards 2022 witnessed the participation across sectors which includes Banking, Insurance, Auto, Healthcare, Piping, Digital Home Entertainment, etc.       

About FlowGuard® Plus App:

The app offers plumbers an opportunity to learn new plumbing skills and receive certifications, networking with other plumbers, improving their soft and business skills, getting business opportunities, and earning rewards each time they engage on any activity on the app, truly empowering the plumber community who are the backbone of the plumbing ecosystem in India.

Not only this, but the app has also provided insurance of INR 2.5 lakhs to the plumbers who registered themselves. This gesture has gone a long way in enhancing the lives of these plumbers and their families.

FlowGuard® Plus App garnered 26 Mn+ impressions through its integrated campaign on World Plumbing Day in 2022, with more than 70K downloads.

Commenting on the app, Mr. Binay Agrawal, Business Head - TempRite®, Lubrizol - India said “FlowGuard® Plus app is driving the upskilling of plumber communities across regions, bringing a significant difference to their lives. Built-in training modules, video tutorials, and networking with community plumbers at a massive scale through FlowGuard® Plus app helps in providing superior work opportunities to plumbers and reducing the skill gap in the country. We further foresee engaging with more than 1 lakh plumbers through the app by 2023 and build an ecosystem to cherish

A pioneer in CPVC plumbing systems since 1960, Lubrizol Advanced Materials, Inc. and FlowGuard® Plus CPVC facilitate reliable access to clean drinking water to millions of homes and offices and till date have been instrumental in delivering safer water to over 200 million citizens in South Asia. Currently, Lubrizol is focusing on introducing advanced water management solutions in India.

About The Lubrizol Corporation

The Lubrizol Corporation, a Berkshire Hathaway Company, leverages its unmatched science to unlock immense possibilities at the molecular level, driving sustainable and measurable results to help the world Move Cleaner, Create Smarter and Live Better. Founded in 1928, Lubrizol owns and operates more than 100 manufacturing facilities, sales and technical offices around the world and has approximately 8,800 employees.

For more information visit: www.Lubrizol.com | www.flowguardplus.com | Toll Free 18001021520

Parle Agro builds further growth opportunities for Farmers and its Fruit Processing Partners across India

~Building an Atmanirbhar Bharat by a focused impact on augmenting local economies~

National, 26 May, 2022:  India’s largest beverage company, Parle Agro has always been at the forefront of innovation in the development of iconic fruit based beverages like Frooti and Appy which have captured the hearts of India. In order to cater to the massive demand of their products nationally and globally, Parle Agro is focused on updating their internal infrastructure and also aggressively building capabilities and capacities of their fruit processing partners across India. 

Since 1985, Parle Agro has worked consistently with Fruit Farmers and Processors within India with a vision to encourage their development and give them opportunities to elevate their earnings.  Parle Agro continues on this path and has invested heavily on their processing partners to help them extract their highest potential. Subsequently, the company has taken a determined stand to source 100% from within India itself. Historically, Parle Agro has always sourced fruits from India while importing from China too, to meet their apple juice content needs. But now, the company has completely stopped sourcing apple juice imports from China and are sourcing them entirely from India alone through its network of Indian farmers.

Parle Agro’s foray into the fruit based category in 1985 began with procuring 1,000 MT of mango fruit from their local fruit processing partners to create the company’s popular mango based drink, Frooti’.  Parle Agro has grown exponentially to currently procuring around 150,000 MT of mango fruits into high quality mango pulp; increasing their consumption of mangoes by 150 times.  Parle Agro’s range of fruit-based products currently utilize around  210,000 MT of fruit collectively.  Over the past decade and a half, the company’s consumption of fruits has increased  fivefold.  Approximately one third of the fruit pulp produced in India is consumed by Parle Agro.  

After its successful foray in creating robust mango processing supply chains, Parle Agro envisioned the creation of a similar network for apple juice concentrate due to the immense popularity of its apple based drinks like Appy, Appy Fizz and B Fizz.  The company’s requirement for apples has risen from 5,000 MT to around 60,000 MT of fruit.  This has had a significant impact on local economies by contributing to local farmers’ incomes, as well as the growth opportunities for local apple processing partners.  

Certain challenges faced by apple processors in India had led to issues with procuring of this fruit 100% for beverage manufacturers like Parle Agro. Challenges included limited availability of apples and outdated technology in processing abilities of Apple Processing Units in India.  Nationally, apples are procured from the regions of Jammu and Kashmir, Himachal Pradesh, and Uttarakhand, which have poor road infrastructure, low quality fruits, high transport costs, political turmoil, erratic weather and shortage of skilled labor.  Therefore demand had to be fulfilled by some amount of imports.  

Parle Agro has worked actively towards changing the situation, leading to the complete discontinuation of all apple juice imports from China to sourcing these 100% from India. The company has supported in upgrading fruit processing facilities of four processors based in Jammu and Kashmir, Himachal Pradesh and Uttarakhand. Parle Agro is working closely with them to build their processing capabilities, increase outputs and build efficiency leading to reduction in wastage. 

Speaking on the occasion, Schauna Chauhan, CEO, Parle Agro stated, “Parle Agro has, and will always be ‘India-focused’ in terms of sourcing raw materials and strengthening infrastructure. We aim to participate in India’s glorious growth story by contributing to building India economically and by creating opportunities for small farmers and SMEs and MSMEs across India.  Our goal is always to be at the forefront of improving and building up capabilities of our partners in India and deliver the best class products in the beverage category.”  

Parle Agro has always been committed to source within India and create state-of-the-art fruit processing capabilities nationally, thereby actively and consciously contributing to India’s Atmanirbhar Bharat Abhiyaan before it was even conceived.  Parle Agro prides itself on being an Indian company that has always followed the principle of, “India First” - having a tight focus on promoting procurement and operations within India whenever possible. Parle Agro has always been committed to build a strong network within India right from utilizing locally sourced produce, to pushing for technological advancements in its nationally located partner processing companies thus creating rapid new employment opportunities.  

In the future, Parle Agro seeks to consistently work closely with all stakeholders like fruit growers, its partner processors and the Government to minimize these shortcomings over time and increase yield and output. It aims to be able to fulfil its apple requirements sufficiently by the year 2023.  

About Parle Agro: 

A pioneer in the beverage industry, Parle Agro Pvt. Ltd. is the largest Indian beverage company with a brand turnover of almost Rs. 7000 Cr. As a driving force of the Indian beverage market, it offers consumers a variety of products including Fruit Juice based still and sparkling drinks, Packaged Drinking Water and Dairy based beverages serving a variety of consumer needs. With 84 manufacturing facilities across India and international locations, Parle Agro caters to over 1.9 million outlets in India driven through more than 6000 channels partners. Along with its brands Frooti, Appy, Appy Fizz, B-Fizz, SMOODH, Bailley, Bailley Soda Frio, Dhishoom and Bombay 99, the organization has a continued belief in the power of innovation that drives strategy, product development and business practices.  This belief has translated into Parle Agro establishing trends that have changed industry and consumer outlook and approach.

 @Parle_Agro        Parle_Agro   

Take-Two Interactive Software, Inc. Completes Combination with Zynga Inc.

Mumbai, May 25, 2022 - Take-Two Interactive Software, Inc. (NASDAQ: TTWO) (“Take-Two” or the “Company”) announced today the completion of its combination with Zynga Inc. (“Zynga”). Under the terms of the merger agreement, Zynga stockholders received $3.50 in cash and 0.0406 shares of Take-Two common stock per share of Zynga common stock.

“We are thrilled to complete our combination with Zynga, which is a pivotal step to increase exponentially our Net Bookings from mobile, the fastest-growing segment in interactive entertainment, while also providing us with substantial cost synergies and revenue opportunities,” said Strauss Zelnick, Chairman and CEO of Take-Two. “As we bring together our exceptional talent, exciting pipelines of games, and industry-leading technologies and capabilities, we believe that we can take our portfolio to another level of creativity, innovation, and quality. Each of our teams has a strong history of operational execution, and together, we expect that we will enhance our financial profile through greater scale and profitability, paving the way for us to deliver strong shareholder value.”

“We are excited for Zynga’s next-generation mobile platform, free-to-play expertise, diverse offering of games and incredible team to join the Take-Two family,” said Frank Gibeau, CEO of Zynga. “We are eager to continue building an unparalleled portfolio of games that will reach broader markets and lead to continued growth for this next chapter of Zynga’s history.”

About Take-Two Interactive Software

Headquartered in New York City, Take-Two Interactive Software, Inc. is a leading developer, publisher, and marketer of interactive entertainment for consumers around the globe. The Company develops and publishes products principally through Rockstar Games, 2K, Private Division, and Zynga. Our products are currently designed for console gaming systems, PC, and Mobile including smartphones and tablets, and are delivered through physical retail, digital download, online platforms, and cloud streaming services. The Company’s common stock is publicly traded on NASDAQ under the symbol TTWO.

All trademarks and copyrights contained herein are the property of their respective holders.

###

About Zynga Inc.

Zynga is a global leader in interactive entertainment with a mission to connect the world through games and a wholly-owned subsidiary of Take-Two Interactive Software, Inc. With massive global reach in more than 175 countries and regions, the combined diverse portfolio of popular game franchises has been downloaded more than 5 billion times on mobile, including CSR Racing^TM, Dragon City, Empires & Puzzles^TM, FarmVille^TM, Golf Rival^TM, Hair Challenge^TM, Harry Potter: Puzzles & Spells^TM, High Heels!^TM, Merge Dragons!^TM, Merge Magic!™, Monster Legends, Toon Blast™, Top Eleven, Toy Blast™, Two Dots, Words With Friends^TM and Zynga Poker^TM. Zynga is also an industry-leading next-generation platform with the ability to optimize programmatic advertising and yields at scale with Chartboost, a leading mobile advertising and monetization platform. Founded in 2007, Zynga is headquartered in California with locations in North America, Europe and Asia. For more information, visit www.zynga.com or follow Zynga on Twitter, Instagram, Facebook or the Zynga blog.

All trademarks and copyrights contained herein are the property of their respective holders.

Cautionary Note Regarding Forward-Looking Statements

Statements contained herein which are not historical facts may be considered forward-looking statements under federal securities laws and may be identified by words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “potential,” “predicts,” “projects,” “seeks,” “should,” “will,” or words of similar meaning and include, but are not limited to, statements regarding the business combination of Take-Two and Zynga and the outlook for Take-Two’s future business and financial performance. Such forward-looking statements are based on the current beliefs of Take-Two as well as assumptions made by and information currently available to us, which are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Actual outcomes and results may vary materially from these forward-looking statements based on a variety of risks and uncertainties including: risks that the Company’s combination with Zynga disrupts each company’s current plans and operations; the diversion of the attention of the management team of Take-Two from its ongoing business operations; the ability of Take-Two to retain key personnel; the ability to realize the benefits of the combination, including net bookings opportunities and cost synergies; the ability to successfully integrate Zynga’s business with Take-Two’s business or to integrate the businesses within the anticipated timeframe; the outcome of any legal proceedings that have been or may be instituted against the Company, Zynga or others related to the combination; the amount of the costs, fees, expenses and charges related to the combination; the uncertainty of the impact of the COVID-19 pandemic and measures taken in response thereto; the effect of economic, market or business conditions, including competition, consumer demand and the discretionary spending patterns of customers, or changes in such conditions, have on Take-Two’s operations, revenue, cash flow, operating expenses, employee hiring and retention, relationships with business partners, the development, launch or monetization of games and other products, and customer engagement, retention and growth; the risks of conducting Take-Two’s business internationally; the impact of changes in interest rates by the Federal Reserve and other central banks; the impact of potential inflation, volatility in foreign currency exchange rates and supply chain disruptions; the ability to maintain acceptable pricing levels and monetization rates for Take-Two’s games; and risks relating to the market value of Take-Two’s common stock issued in the combination. Other important factors and information are contained in the joint proxy statement/prospectus mailed by Take-Two to its stockholders in connection with the business combination of Take-Two and Zynga and in Take-Two’s and Zynga’s most recent Annual Reports on Form 10-K, including the risks summarized in the section entitled “Risk Factors,” in Take-Two’s and Zynga’s most recent Quarterly Reports on Form 10-Q, and in each company’s other periodic filings with the SEC, which can be accessed at www.take2games.com or www.sec.gov. All forward-looking statements are qualified by these cautionary statements and apply only as of the date they are made. Take-Two does not undertake any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

Additional Information and Where to Find It

This communication relates to a business combination of Take-Two and Zynga. In connection with the business combination Take-Two filed a registration statement on Form S-4 with the U.S. Securities and Exchange Commission (the “SEC”), that includes a joint proxy statement/prospectus. The registration statement on Form S-4, including the joint proxy statement/prospectus, provides details of the combination and the attendant benefits and risks. The registration statement was declared effective on April 7, 2022, and the definitive joint proxy statement/prospectus was sent to Take-Two and Zynga stockholders. This communication is not a substitute for the registration statement on Form S-4, including the joint proxy statement/prospectus, or any other document that Take-Two or Zynga may file with the SEC or send to their respective stockholders in connection with the combination. Investors and security holders are urged to read the registration statement on Form S-4, including the definitive joint proxy statement/prospectus, and all other relevant documents filed with the SEC or sent to Take-Two’s or Zynga’s stockholders as they become available because they will contain important information about the combination. All documents are available free of charge at the SEC’s website (www.sec.gov). You may also obtain these documents by contacting Take-Two’s Investor Relations department at contact@take2games.com. This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval.