SPIRIT OF MUMBAI

Launches 9 Banking outlets, taking the count to 702 branches, across the Country Ulhasnagar, July 30, 2022 -: Utkarsh Small Finance Bank Limited (“ Utkarsh SFBL ” or the “ Bank ”), today announced the inauguration of its Ulhasnagar branch in Thane district- Maharashtra.  The bank inaugurated 9 banking outlets in all bringing the total branches to 702 branches across the country.  The 700th branch was inaugurated by Mr .Govind Singh, MD & CEO Utkarsh Small Finance Bank. .  With this, the Bank has reached 702 branches in 225 districts in the country spread across 22 states and union territories. The launch of this branch in Ulhasnagar is aligned with the Bank’s strategy to extend its reach to offer various financial services. This includes wholesale lending, micro banking loans (JLG loans), MSME loans, housing loans, loan against property, commercial vehicle loans, commercial vehicles and construction equipment loans and gold loans along with current and savings account...

Earnings ·           Net Profit grew to Rs. 474 crore in Q1-FY23 from Net Loss of Rs. 630 crore in Q1 FY22 ·           NII  grew by 26% on a YoY basis to reach Rs. 2,751 crore in Q1-FY23 ·           Net Interest Margin improved to 5.89% in Q1-FY23 from 5.50% in Q1-FY22 ·           Fee and Other Income grew by 100% YoY to reach Rs. 899 crore in Q1-FY23 ·           Core operating income (excl. trading gains) grew by 39% YoY to Rs. 3,650 crore in Q1-FY23 ·           Core operating profit (excl. trading gains) grew by 64% YoY and by 18% QoQ to reach Rs. 987 crore ·           Provisions other than tax were lower by 84% YoY basis at Rs. 308 crore in Q1-FY23 at 0.9% (annualized) ...

Key Highlights • Bank of Baroda (BOB) Net profit for Q1FY23 grows by 79.3% to reach INR 2,168 crore • Advances registered a strong YoY growth of 18% in Q1FY23  • Organic Retail Advances grew by 23.2%, led by growth in high focus areas such as Home Loan (15.3%), Personal Loan (147.1%), Auto Loan (25.6%), Education Loan (20.5%) • Domestic CASA ratio of the bank improved by 97 bps YoY to 44.18%. • GNPA at 6.26% a reduction of 260 bps YoY  • NNPA at 1.58% a reduction of 145 bps YoY in Q1FY23.  • Provision coverage ratio (PCR) at 75.94% w/o TWO • Net Interest Margins remains stable at 3.02% in Q1FY23.  • Healthy Capital base – CRAR improved to 15.46% in Jun’22 from 15.40% in Jun’21 Business Performance  Global Advances of the Bank increased to INR 8,39,785 crore, +18% YoY.  Domestic Advances of the Bank increased to INR 6,95,493 crore, +15.7% YoY.   Global Deposits increased by 10.9% YoY to INR 10,32,714 crore. Domestic Deposits increased b...

After a Covid-break of two consecutive years, the Grand Jury Meet of the 17th edition of FURA Retail Jeweller India Awards 2022, India’s first recognition platform for Indian Jewellers, and the most prestigious awards, unveiled 400+ exquisite jewellery designs from top notch jewellery houses on 29th July at The Grand Hyatt, Mumbai.  A yearly extravaganza of high jewellery and uncommon designs, this is where master jewellers showcase their design prowess to a distinctive panel of jurors, media and influencers. This year, as every year, the jury comprised of a select few individuals of longstanding professional experience from the worlds of art, fashion, media and business. The jury had the honour of judging the latest masterworks of the Indian jewellery industry and make the final decision on top five finalists in 20 prize categories. In accord with the changing demographics of the consumers, the youth jury members represented a new voice for the evolving sensibilities of craft and ...

Mumbai, July 29, 2022: V-Trans (India) Ltd, a preferred single window logistics solution provider announces the elevation of Mr. Mahendra Shah from MD to Chairman and Managing Director of V-Trans (India) Ltd group.  A logistics veteran with 47 years of experience in the business, he had been instrumental in shaping the organization to its present scale and size. He is at the helm of things for the last 25 years, however, this enhanced role will add to his enthusiasm and zeal.  Continuing the legacy, he will lead the long-term planning, business & expansion strategy, policy-making, providing direction to the board, and ensuring the longer-term objectives and priorities are taken forward.  Commenting on his appointment as the Chairman and Managing Director, Mr. Mahendra Shah said, “I am glad for the enhanced role in leading the business, and I will endeavor to drive the company’s vision of providing logistics edge through efficient technologies and customized solutions,...

Varun Alagh, CEO & Co-founder, Mamaearth and Ghazal Alagh, CIO & Co-founder, Mamaearth. Mamaearth Store launch in Mumbai The new stores are located in Phoenix Market city, Kurla & Infiniti Mall s Malad Mumbai, 29 th  July’2022-  Mamaearth, the fastest growing FMCG brand from the House of Honasa, launched its Exclusive Brand Outlets (EBO) in Mumbai at Phoenix Market City, Kurla and Infiniti Mall, Malad. The toxin free personal care brand will be retailing all the product ranges babycare along with beauty and personal care. Being a consumer centric brand, that evolves along with its consumers, Mamaearth started as a toxin-free brand with babycare but due to consumer demand ventured into toxin-free personal care products for adults. Keeping a close eye on the consumers, with the increasing consumer demand for product availability offline, the brand decided to venture into offline formats. Understanding that exclusive brand outlets are a great way to communicate about ...

July 29, 2022, Bangalore:   Swiggy, India’s leading on-demand delivery platform has extended its   Future of Work   Policy and announced a permanent work-from-anywhere for majority of roles. The decision was arrived at based on team needs and feedback from several managers and employees who vouched for the flexibility and increased productivity working from home has given them in the last two years. Today, Swiggsters are working out of 487 cities in 27 States and 4 UTs across the country.   Under the policy, the corporate, central business functions and technology teams will continue to work remotely and converge once every quarter at their base location for a week to promote in-person bonding. The first Jamboree of the quarter was held in June 2022 and was a huge success with teams coming together after almost two years. Employees in partner-facing roles are however required to work from the office for a few days a week from their base locations.   “At the core...

  ~The second chapter from the fan-favorite franchise ‘Secrets’ docuseries premieres exclusively on discovery+ starting Thursday, Aug 4, 2022 ~ ~Enriched with opinions from experts including Parliamentarian and Author, Dr. Shashi Tharoor, Historian Irfan Habib, renowned Archaeologist K.K.Muhammedand, Adv. J Sai Deepak and Prof. Farhat Nasreen amongst others, the docuseries sheds light on the history and the importance of one of the largest cut diamonds in the world, the Kohinoor~ Mumbai, 28th July 2022: For centuries, dark secrets and mystery shrouds one of the most beautiful and largest cut diamonds in the world- the Kohinoor. Retracing the story and controversies around what is inarguably India’s most prized possession that was wrongfully snatched during the British rule, discovery+ comes together with acclaimed director Neeraj Pandey – Friday Storytellers and the versatile National Award and Padma Shri-awardee Manoj Bajpayee for a fascinating docuseries in the ‘Secrets’ franchis...

  Today Press meet in respect of launch of Express Cargo Service (Rail Post Gati Shakti Express Service), was conducted at Conference Hall, 1st Floor, GPO Building, Mumbai-400 001, Ms. Veena R. Srinivas, Chief Postmaster General, Maharashtra Circle briefed the media regarding the new initiatives of Department of Post and the future prospects of logistics in Maharashtra Circle. Shri. G V L Satya Kumar, DRM, Western Railways discussed about the extension of join collaboration throughout Maharashtra and beyond. Shri Amitabh Singh, Postmaster General (Mails & BD), brief the media about the operational details of Express Corgo Service. To provide seamless connectivity for the Logistic movement of Goods & Parcel the “Rail Post Gati Shakti” is a major initiative by Govt. of India. Department of Posts in collaboration with Indian Railways has developed a customized Logistics solution for e-Commerce players and MSMEs. The product is named as “Express Cargo Service”. Today the Fi...

One of top-ranked city golf courses in the world to welcome 55 finalists of the Asian luxury golf tour in November India, 28th June 2022: 4moles.com, Asia’s biggest golfing platform, in collaboration with the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi), will host the final leg of the 4moles.com Golf Rendezvous in the UAE capital. The well-known Asian luxury golf tour will conclude at Yas Links Abu Dhabi in November this year after completing seven tournaments in India.     Aimed at CXOs and corporate leaders, the finale allows participants to experience a top-rated golf destination outside India. Over 840 golfers are expected to participate in the tour this year and 55 winners from the seven tournaments held in India will travel to Abu Dhabi for the finale. The finalists will get to practice a round at the breathtaking Par 72 Saadiyat Beach Golf Club before they tee off at Yas Links Abu Dhabi - which was voted one of the world’s top city golf clubs by CN...

IKEA R CITY is the first in mall store in India Mumbai, Maharashtra, 27th July 2022: IKEA (part of the Ingka Group), the world’s leading Swedish home furnishings retailer will open the doors to its third store in Mumbai at R CITY Mall,at 11:00 a.m. on Thursday July 28, 2022. The IKEA R CITY Store is IKEA’s fifth store in India. IKEA started its retail journey in Maharashtra with the launch of its e-commerce services in 2019 followed by Navi Mumbai store launch in 2020 and IKEA’s first city store in Worli in 2021. With a planned investment of INR 6000 crores in Maharashtra, IKEA is expecting to attract close to 4 million visitors this year in Mumbai. Spread across 72000 sq. ft., IKEA R CITY offers over 7,000 well-designed, affordable, good quality, functional, and sustainable home furnishing products. Customers will be able to place orders for 5000+ products that will be delivered to them, and they can buy 2000 products directly from the stores. The store will have the iconic 15 room se...

University to offer the programme in its new Worli campus, admissions are now open Mumbai, 27th July, 2022: HSNC (State Cluster) University comprising H.R. College; K.C. College; and Bombay Teachers’ Training College launches a two-year post-graduate degree in Liberal Studies. The programme, a one-of-a-kind intersdisciplinary programme is offered under the School of Interdisciplinary Studies. The admissions are now open for graduates across all disciplines and streams. The programme will be offered by the University starting Academic Year 2022-2023 and the first cohort will be of maximum 60 students. The programme, M.A. in Liberal Studies, envisages the idea of holistic and integrated learning aimed at breaking disciplinary silos between pure sciences, social sciences and humanities. The programme seeks to re-imagine learning in ways that foster intellectual curiosity, ability to raise critical questions and most important to develop a sense of social justice, equity and empathy while ...

India Post Payments Bank (IPPB) is a subsidiary of India Post. IPPB is launched to provide basic banking facilities of Savings and current account through the vast network of Department of Posts to unbanked and underbanked population with motto of Accessibility, Affordability and Trust.  For value addition the bank is providing various services like remittance, Life insurance and General insurance, utility bill payments etc.  Apart from the above, the IPPB is also providing the service of CELC (Child Enrolment Lite Client) through which two major services are provided :- 1. Updation of Mobile and Email of a citizen. 2. Child enrolment to Aadhar (Baal Aadhaar) for children upto 5 years of age. For providing these services, Postmen and Branch Post masters/ Gramin Dak Sevaks (GDS) are equipped with smart phones and portable Biometric devices with CELC apps installed in it. As of now 6,500 Postmen and Gramin Dak Sevaks in Maharashtra and Goa  are onboarded to provide CELC...

Delhi, 27th July 2022: Furthering the commitment to strengthening delivery of global standards of clinical excellence, the CK Birla Hospital®, recently treated a 59-year-old male patient for large thyroid swelling (goiter). The patient was suffering from thyroid swelling for many years and with time the entire right neck was affected, causing difficulty in neck movement. The patient had delayed the surgery for many years as he was apprehensive about the results and post-surgery complications.  In thyroid surgeries across the best centers in world there is approximately 25% chance of calcium derangement due to accidental removal or injury to parathyroid glands (which control calcium levels in the human body and lie very close to thyroid gland) & 8% chance of injury to voice nerve i.e. Recurrent Larangeal Nerve also positioned just below the thyroid gland.  Upon examination of the patient, Dr Mandeep Singh Malhotra, Director, Surgical Oncology, CK Birla Hospital®, and his te...

2 out of 3 buyers want to purchase a home in the next 3 to 6 months as they believe prices of properties will rise  Mumbai, 27 July 2022: After establishing a strong momentum by the end of 2021, the current year has also built on the tide as homebuyers continue to stay optimistic despite the headwinds in the global economy. As per the House Purchase Sentiment Index (June 2022) released by CREDAI MCHI and TruBoard Partners, highlight 47% of prospective homebuyers in the Mumbai Metropolitan Region (MMR) are optimistic to purchase a home at the earliest predicting increased rates of loan and other commodities. The House Purchase Sentiment Index dipped by 9.5% quarter on quarter in Q1 FY23 compared to the previous quarter, but it still depicts optimism with a score of 65.5, above the pessimism threshold of 50. While rising policy rates have dented consumer sentiment compared to the previous quarter, 2 out of 3 home buyers surveyed expected prices will rise but also were certain to buy ...