Mastercard and U GRO Capital collaborate to extend financing solutions to small businesses and support business growth

23rd November 2023, India: Mastercard, today announced a collaboration with U GRO Capital, an NBFC specializing in MSME financing, to extend financing solution to small businesses in India that require financial support to maintain and grow their operations. MSMEs in India have long grappled with substantial challenges, including constrained access to capital. According to recent reports, out of over 64 million MSMEs in India, only 14 per cent have access to credit.

This strategic collaboration between Mastercard and U GRO Capital aims to address this challenge by enabling a holistic digital supply chain financing solution for millions of small businesses in India. U GRO Capital will leverage its proprietary underwriting and cash flow backed assessment model to offer short term credit to dealer-distributors and last-mile retailers, among other small merchants and women entrepreneurs. Through its vast network, Mastercard is bringing together the demand and supply side ecosystem stakeholders on a common platform to facilitate the adequate support for the growth of small businesses. 

Vikas Varma, Chief Operating Officer, South Asia, Mastercard, commented, "Mastercard understands the substantial challenges faced by MSMEs in accessing capital, thus, posing a barrier to the growth of their businesses. The credit gap requires a collective effort, and it is imperative to forge right partnerships within the ecosystem to overcome the existing divide. U GRO Capital and Mastercard are joining forces to deliver an accessible working capital solution and the collaborative commitment aims to fuel the growth of small businesses across India, paving the way for sustained success in the entrepreneurial landscape."

With its progressive approach to MSME financing, U GRO Capital leverages data tech platform to extend credit to MSMEs. The approach emphasizes cash flow-backed assessments based on data analysis, transcending traditional financial and collateral-based evaluations. U GRO Capital's proprietary underwriting model, the GRO Score, goes beyond traditional lending by harnessing the power of ecosystems and leverages alternate data sources to evaluate customers based on their banking, bureau, and GST behaviors, facilitating credit extension to the last mile.

Shachindra Nath, Vice Chairman and Managing Director, U GRO Capital, said, “We are truly excited to collaborate with Mastercard, a recognized global leader in the payment industry. This strategic partnership complements our vision of reshaping the MSME finance landscape and meeting the pressing demands for instant working capital. We are confident to onboard millions of small businesses through the Mastercard network, thereby magnifying our collective impact on the MSME sector. This alliance, underpinned by innovation and a shared commitment, holds the potential to be a pivotal force in addressing the intricate credit needs of MSMEs nationwide.”

Mastercard announced a global commitment to bring a total of one billion people and 50 million micro and small businesses, including 25 million female entrepreneurs into the digital economy by 2025. This collaboration with U GRO Capital aligns with Mastercard’s mission to drive financial inclusion for businesses across India.

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About Mastercard (NYSE: MA), www.mastercard.com

Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

About UGRO Capital Ltd (NSE: UGROCAP I BSE: 511742), www.ugrocapital.com

UGRO Capital Limited is a Data Tech Lending platform, listed on NSE and BSE. Pursuing its mission of “Solving the Unsolved” for small business credit gap in India, on the back of its formidable distribution reach and its Data-tech approach.

The Company’s prowess of Data Analytics and strong Technology architecture allows for customized sourcing platforms for each sourcing channel. GRO Plus module which has uberized intermediated sourcing, GRO Chain, a supply chain financing platform with automated end to end approval and flow of invoices, GRO Xstream platform for co-lending, an upstream and downstream integration with fintechs and liability providers and GRO X application to deliver embedded financing option to MSMEs.  

The credit scoring model GRO Score (3.0) a statistical framework using AI / ML driven statistical model to risk rank customers is revolutionizing the MSME credit by providing on-tap financing like consumer financing in India.

UGRO has pioneered the "Lending as a Service" (LaaS) model in India and has effectively operationalized Co-lending relationship with 10+ Large Public Sector Banks and large NBFCs and built a sizeable LaaS book of more than 10% of its AUM through the GRO Xstream platform.

The Company is backed by marquee institutional investors (raised INR 900+ Cr of equity capital in 2018 and INR 340 Cr in 2023) and aims to capture 1% market share over the next three year.

Union Minister Shri Rajeev Chandrasekhar to Deliver Keynote atI ndia’s Largest Online Gaming Convention on December 5

New Delhi, November 23, 2023: The Internet and Mobile Association of India (IAMAI), in collaboration with the Federation of Indian Fantasy Sports (FIFS) and the E-Gaming Federation (EGF) is all set to organise the first edition of the nation’s largest gaming conference, the Indian Gaming Convention (IGC), on December 5, 2023, at the Taj Palace, New Delhi. Shri Rajeev Chandrasekhar, Minister of State for Skill Development and Entrepreneurship, and Electronics and Information Technology, Government of India, will deliver the keynote address at the valedictory session. 

Leading policymakers, regulators, gaming industry captains, marketers, game developers and service providers will converge on one platform to address the IGC, which is expected to draw more than 700 delegates, including senior professionals of the online gaming ecosystem of the country.

Among stalwarts of the gaming landscape who will share their insights at the IGC will be Dr. Trivikraman Thampy, Co-founder, Games24x7; Dilsher Singh Malhi, Founder & CEO, Zupee; Salone Sehgal, General Partner, Lumikai; Ishita Grover, Director (Marketing), Oneplus; Deepak Jacob, General Counsel, DreamSports, and Anuraag Saxena, CEO, EGF. 

International speakers, addressing the IGC will include Jean Major, a former Canadian regulator currently on the Board of the Ontario Lottery and Gaming Commission, and Sarah Ramansaukas, a player safety expert from the UK, who co-founded The Game Safety Institute.

Elaborating on the context of the Convention Harsh Jain, Chairman, IAMAI and CEO and Co-founder Dream Sports, said, “2023 has been a defining year for India’s Online Gaming industry, marked by multiple positive developments like MeitY’s appointment as our nodal ministry, notification of the IT regulations and clarity on taxation. These developments will facilitate the industry’s sustainable and responsible growth over the long term. I look forward to insightful discussions at IGC, where the focus will be on exploring collaborative strategies between industry, Government, and the ecosystem to enable a safe, trusted, and accountable Indian online gaming industry that can emerge as the global hub for gaming.”

Bhavin Pandya, Chairman of the IAMAI Online Gaming Committee, and Co-founder & Co-CEO of Games24X7 said, “The Indian online gaming industry is going through a tectonic shift, with 2023 being a landmark year in its evolution. Key tax and policy frameworks have laid a robust foundation for the online gaming sector, but there is a long way to go from here. This underscores the need for platforms like the Indian Gaming Convention (IGC) where open and honest dialogues between industry and government, stakeholders and partners, and visionaries and innovators are earnestly facilitated. Such platforms are crucial for our industry to seize opportunities and face challenges collectively. I'm confident that the IGC will evolve into a central platform which will play an instrumental role in shaping the future of the online gaming industry in India.”

More than 35 of subject-experts will deliberate upon the opportunities and challenges before India’s online gaming industry 360 degrees in 10 of sessions, including keynotes, fireside chats, and panel discussions. Some of the key sessions of the IGC will be on “Future of Gaming: Fuelling Innovation to Make India a Global Gaming Hub”, “Empowering the Digital Landscape: Online Gaming's Role in Fueling Digital India”, ”Building a Robust National Regulatory Framework for Online Gaming”, “Investor Insights: How Can the Industry Build Through Regulatory Shifts”, “Gaming's Role in Promoting Culture, Education, and Sports”, and “Voices of the Game: Online Gaming in India, A User-Speaks Experience”. 

Value Leaf is the Platinum Partner of the IGC, and it is being supported by the Government of Telangana. 

For more information on India’s largest gaming convention please visit IAMAI Event | Indian Gaming Convention

About IAMAI:

Established in 2004, the Internet and Mobile Association of India (IAMAI) is a not-for-profit industry body and the country's only organization representing the digital services industry with over 550 Indian and multinational corporations as its members. IAMAI is dedicated to presenting a unified voice of the businesses it represents to the government, investors, consumers, and other stakeholders. IAMAI represents varied sectors such as digital payments, fintech, digital commerce, digital advertising, digital entertainment, traveltech, online gaming, edtech, healthtech, agritech, big data, ML, AI & IoT, AR/ VR, logistics-tech, D2C, EV, VC, gift cards, and so on.

  

Laghu Udyog Bharati launches a Survey Campaign on ‘Empowering MSMEs’ in Maharashtra

- Survey to provide a centre point for data for the industry’s issues -

Mumbai, November 23, 2023: Laghu Udyog Bharati (LUB), an organization dedicated to serving micro and small industries in India, has announced a new Survey Campaign called "Empowering MSMEs – (To March Towards One Trillion Dollar Economy)" in Mumbai. The survey covers eight key topics including subjects such as Banking & Finance, Industrial Land & Infrastructure, Pollution Control, Power Supply, Business Environment, Labor Issues, and Poor Grievance Mechanisms Related to Government. LUB will conduct an outreach program through a survey to reach and instrument feedback from over 1,00,000 entrepreneurs, factory owners, and service providers to manufacturing industries across all regions and districts of Maharashtra. LUB will analyze and share the results of the survey with the state government to address issues faced by businesses and provide solution within estimated turnaround time of 45 days.

LUB will share a survey QR code with registered participants via WhatsApp and emails. Interested individuals and organizations can also take the survey by scanning the code or accessing the form on LUB's website. For maximum outreach, QR codes linking to the survey will be prominently displayed on banners positioned outside all industrial parks located in both MIDC and non-MIDC areas across the state of Maharashtra. Additionally, the QR codes will be posted on the main social media pages of LUB. This broad-based approach aims to distribute awareness of the survey opportunity to stakeholders throughout the region by leveraging multiple physical and digital channels. For the convenience of participants, the survey is available in both English and Marathi languages.

Shri Ravindra Vaidya, President, Maharashtra LUB said, “Maharashtra is a powerhouse for India's economy and the largest contributor of micro, small and medium-sized enterprises (MSME) businesses. It contributes more than 15% of India's gross domestic product, 20% to industrial production, and 20% to Indian exports. Through this digital survey, we aim to assess data in real-time and provide findings from the data within a 45-day timeframe for faster resolution of issues. This will help entrepreneurs and businesses quickly resolve problems categorically. This survey will provide a roadmap for this sector regarding ease of doing business, which will help accelerate growth. These findings will serve as a ready reference for relevant authorities to acknowledge problems and bring solutions. The data will demonstrate how successfully the portal has resolved issues for this industry with quick turnaround times.” 

Shri. Bhushan Marde, General Secretary, Maharashtra LUB said, “Policy advocacy, policy intervention, implementation are the key issues that LUB focus to resolve. The thought process behind this survey is to address the industrial lag on the topics we have chosen and help the entrepreneurs and business owners to overcome the challenges. Trivial issues related to banking, acquiring land parcels for businesses, huge cost margins, delay in getting power connections, no quick resolutions from government authorities on complaints filed etc. will be put under focus through this survey. 

About Laghu Udyog Bharati:

Laghu Udyog Bharati is a registered all India organization of Micro and Small Industries in India since 1994. Today, Laghu udyog Bharati has its membership spread over the length and breadth of the country. It has membership in more than 580  Districts with 250 Branches all over the Country. In a genuine effort to organise MSE sector Laghu Udyog Bharati is fighting the various ills plaguing the sector and to remove impediments coming in the way to MSEs.

Gopal Vittal urges customers to consider adopting E-Sims for convenient and efficient connectivity

• Bharti Airtel's CEO and MD, Gopal Vittal, in a customer letter today emphasises the advancements in mobile technology with embedded SIMs (e-SIMs)

• In the times of interconnected devices, e-SIMs can provide seamless connectivity

New Delhi, November 21, 2023: Bharti Airtel (“Airtel”), one of India’s leading telecommunications service provider, today, in a customer letter emphasized the advancements in mobile technology with embedded SIMs (e-SIMs) and encouraged Airtel users to make the switch to an e-SIM. Bharti Airtel has streamlined the e-SIM upgrade process through the Airtel Thanks App, simplifying the transition from a physical SIM to an e-SIM.

An e-SIM is an online extension of one’s regular SIM card, eliminating the need to physically access SIM card on one’s phone. In today’s digital first lifestyle and with increasing penetration of newer models of smart wearables, smartphones, etc being e-SIM enabled, the shift from physical SIM can provide seamless connectivity between multiple devices. 

In the customer letter, Gopal Vittal, MD and CEO, Bharti Airtel cited a few examples where an e-SIM comes in handy for users. Like when going for a morning jog, now Airtel e-SIM users can just wear their smartwatch and be connected to their phone without having to physically carry it.  e-SIMs also help against theft as it makes it more difficult for the criminals to disconnect the e-SIM from the stolen device as compared to physical SIMs; also making a lost phone easily traceable. e-SIMs let customers use multiple mobile phone numbers on single SIM and device and makes shifting from a device to the other easy and seamless. 

Airtel has tried to make the switch to an e-SIM as seamless as possible for customers. Airtel CEO highlighted that all devices supporting the e-SIM feature are compatible with Airtel e-SIM. Customers can easily convert a physical SIM into an e-SIM through the Airtel Thanks App, available for download on both the Google Play Store and Apple iOS App Stores.

For more information on e-SIM for smartphones or smartwatches and a step-by-step conversion process, Airtel customers can visit www.airtel.in/esim. Airtel ensures efficient connectivity by activating the e-SIM profile as soon as it's downloaded and enabled. Further details and Airtel e-SIM Card FAQs can be found on the provided URL.

About Bharti Airtel Limited

Headquartered in India, Airtel is a global communications solutions provider with over 500 million customers in 17 countries across South Asia and Africa. The company ranks amongst the top three mobile operators globally and its networks cover over two billion people. Airtel is India’s largest integrated communications solutions provider and the second largest mobile operator in Africa. Airtel’s retail portfolio includes high-speed 4G/5G mobile broadband, Airtel Xstream Fiber that promises speeds up to 1 Gbps with convergence across linear and on-demand entertainment, streaming services spanning music and video, digital payments and financial services. For enterprise customers, Airtel offers a gamut of solutions that includes secure connectivity, cloud and data center services, cyber security, IoT, Ad Tech and CPaaS (Airtel IQ). For more details visit www.airtel.com

RASHTRIYA CHEMICALS AND FERTILIZERS LIMITED (A Government of India Undertaking) 'Viksit Bharat Sankalp Yatra' campaign across the country

Mumbai : With the aim of reaching the benefits of the Flagship schemes of the Government of India to the target beneficiaries, the nationwide campaign 'Viksit Bharat Sankalp Yatra' is being Organized  by the Central Government and this campaign was inaugurated by the auspicious hand of Hon'ble Prime Minister Shri Narendra Modiji on 15th November 2023 at District Khunti, Jharkhand  on the occasion of Janjati Gaurav Din.

A leading Navratna status awarded company Rashtriya Chemicals and Fertilizers Limited with other fertilizer manufacturing companies, are participating in the campaign. In agriculture sector, important information is being given regarding the balanced use of fertilizers to maintain the proper health of the soil by avoiding the excess use of chemical fertilizers along with the spraying of nano urea, nano DAP and other micronutrient fertilizers through advanced drone technology. RCF is always trying to create awareness among the farmers community by conducting farmers meeting, soil testing, agricultural exhibitions and fairs, crop demonstrations etc.

This campaign is being implemented by various ministries under Government of India with the special participation of Ministry of Information and Broadcasting, Ministry of Agriculture and Department of Fertilizers. The aim of the said campaign is to create awareness general public about the various people oriented schemes which are implemented by the central government. This initiative has been started from all the tribal districts of India will be continued till 24th January , 2024 in PAN India.

With best wishes,

RASHTRIYA CHEMICALS AND FERTILIZERS LIMITED

(A Government of India Undertaking)

Corporate Communications Department

     Gr Floor,"Priyadarshini"Sion, Mumbai - 400 022.

             Telephone: 02225523124,email: ccandcsr@rcfltd.com

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प्रसिध्दीपत्र

                   देशभर में 'विकसित भारत संकल्प यात्रा' अभियान

मुंबई : भारत सरकार की महत्वाकांक्षी योजनाओं का लाभ लक्षित लाभार्थियों तक पहुंचाने हेतू केंद्र सरकार द्वारा देशव्यापी अभियान 'विकसित भारत संकल्प यात्रा' चलाया जा रहा है और इस अभियान का उद्घाटन माननीय प्रधानमंत्री श्री नरेंद्र मोदीजी के करकमलों द्वारा दिनांक 15 नवंबर 2023 को जिला खूंटी, झारखंड में किया गया. इसका शुभारंभ “जनजाति गौरव दिन” के अवसर पर किया गया है।

देश के उर्वरक क्षेत्र की अग्रणी नवरत्न दर्जा प्राप्त कंपनी राष्ट्रीय केमिकल्स एंड फर्टिलाइजर्स लिमिटेड सहित अन्य उर्वरक निर्माता कंपनियां इस अभियान में सहभाग ले रही हैं। कृषि क्षेत्र में उन्नत ड्रोन तकनीक के माध्यम से नैनो यूरिया, नैनो डीएपी एवं अन्य सूक्ष्म पोषक उर्वरकों के छिड़काव प्रात्याक्षिक के साथ-साथ रासायनिक उर्वरकों के अनावश्यक दुरुपयोग से बचकर मिट्टी के उचित स्वास्थ्य को बनाए रखने के लिए उर्वरकों के संतुलित उपयोग के संबंध में महत्वपूर्ण जानकारी दी जा रही है। आरसीएफ किसानों के बीच जागरूकता पैदा करने के लिए लगातार प्रयास कर रहा है और किसानों के लिए मिट्टी परीक्षण, कृषि प्रदर्शनी और मेले, फसल प्रदर्शन से किसानोकों नयी तकनिक का अवगत करनेका प्रयास करता हैं।

यह अभियान सूचना एवं प्रसारण मंत्रालय, कृषि मंत्रालय और उर्वरक विभाग की विशेष भागीदारी के साथ भारत सरकार के अधीन विभिन्न मंत्रालयों के माध्यम से कार्यान्वित किया जा रहा है। उक्त अभियान का उद्देश्य आम जनता को केन्द्र सरकार द्वारा चलायी जा रही विभिन्न जनोन्मुखी योजनाओं की जानकारी देना है। यह पहल भारत के सभी आदिवासी जिलों से शुरू की गई है और 24 जनवरी 2024 तक यह पहल पूरे देश में लागू की जाएगी।

शुभकामना सहित,

Utkarsh Small Finance Bank Limited expands its presence with the opening of its new banking outlet in Bhayandar, Thane Maharashtra

With this, the Bank has 72 banking outlets in Maharashtra and 877 banking outlets across the country.

Mumbai, November 21, 2023-: Utkarsh Small Finance Bank Limited (USFBL), today announced the inauguration of its new banking outlet in Bhayandar, Thane in the state of Maharashtra.

With this launch, the Bank has reached 72 branches in the state of Maharashtra and 877 in the country spread across 26 States and Union Territories.  

Addressing the inauguration, Ms. Kalpana Prakash Pandey, Independent Director at Utkarsh Small Finance Bank Limited, stated, " It is heartening to see the Bank entrenching its footprint and growing from strength to strength, spreading its presence across the country. I wish the Bank the very best in its future endeavors”.

Commenting on the expansion, Mr. Govind Singh, MD & CEO, Utkarsh Small Finance Bank Limited said, “Maharashtra is an important state for us. The inauguration of this banking outlet not only supports and nurtures the entrepreneurial spirit of the local community, but also provides them with a valuable opportunity to enhance their financial confidence. Moreover, it serves as a catalyst for fostering a thriving environment of employment and accomplishment."    

The Bank is in a position to provide an array of financial products and services to its customers, which includes savings and current accounts, fixed deposits and recurring deposits along with various loan products such as housing loans, business loans and loan against property. With its branch infrastructure, digital banking capabilities and ATM network, the Bank offers integrated customer service.

This launch is aligned with the Bank’s strategy to extend its reach and offer entire gamut of financial services including current & savings accounts, fixed & recurring deposits, loans, credit, insurance and investment products to customers across our network. The customers can access banking through multiple channels like branches, 24*7 ATMs, Internet banking, Mobile banking, Unified Payment Interface (UPI) and Call Centre.

 

Utkarsh SFBL aims to provide financial services to underserved and unserved customer segments while serving other segments of society including micro-banking loans (JLG loans), MSME loans, housing loans and loan against property amongst others. Also, the Bank provides facility to customers for opening a bank account without having to visit the branch through the tablet-based application assisted model, “Digi On-Boarding”.

Keller’s Arthroplasty procedure saves diabetic patients foot in Apex Group of Hospitals

Mumbai- In India there are nearly 101 million Diabetic patients. Out of these patients 20% used to develop foot ulcers in their lifetime. According to WHO, diabetes is a major cause of blindness, kidney failure, heart attacks, stroke and lower limb amputations. Foot ulcer is the pivotal event which leads to major amputations in Diabetic patients. So, the prevention of ulcer and if ulcer is there then healing of ulcer and prevention of recurrence is the most important strategy to prevent these amputations in Diabetic patients. Commenting on this Dr. Shrikant Bhoyar, Diabetic Foot Surgeon from Apex Superspeciality Hospital, Borivali says, “About 85% of ulcers are because of Neuropathy. Neuropathy makes the foot insensate and small injuries go unnoticed which later becomes the cause of major amputations.  45-year-old diabetic patient from Mira Road admitted in Apex Superspeciality Hospital, Borivali for foot ulcer treatment, as many doctors suggested amputation surgery. We decided to conduct Keller’s arthroplasty procedure which is a procedure to remove bone from the spot where your big toe joint meets the metatarsal bone and replace it with soft tissue. In this case Keller's arthroplasty 6 mm to proximal 1/3 of proximal phalanx bone is cut releasing all the adhesions and insertion of tendon on the base of proximal phalanx saving the blood supply and flexor and extensor tendons inserting at the base of distal phalanx. The patient is discharged after 48 hours of surgery and advised not to put pressure or weight on the operated foot for at least 10 days. This procedure is often done when your toe joint is affected by ulcer or wound. A Keller’s gap arthroplasty can help to heal this Inter phalangeal ulcer almost permanently and help you use your foot more freely.”

Dr. Shrikant Bhoyar further added that we have operated on about 38 cases of IP joint ulcers. The 1 st case was operated 6 years back and not a single patient has come back with recurrence. So, I can say that and supported by the data world over the treatment of this simple looking ulcer is Kellers’s gap arthroplasty to get almost permanent relief from this ulcer and prevent further complications. Neuropathy also makes the joints stiff and alters the biomechanics of the foot leading to focal points of increased pressure which again becomes the cause of ulceration. The Great Toe ulcers form 33% of all the ulcers in Diabetic patients. If not treated early the ulcers can become the cause of infection and amputation of the Great toe and of the leg. The main causative factors of ulceration are Neuropathy , vasculopathy and limited joint mobility. Prolonged hyperglycemia contributes to all these factors. In India Neuropathy plays an important part in causation of foot ulcers, so heal the ulcers and prevent amputation whenever possible. There are many preventive surgeries in diabetic patients with ulcers which most of the patients were not aware of which need to be addressed immediately in the Indian healthcare industry.  

Apex Group of Hospitals is a chain of Hospitals managed and run by expert Medical Professionals with experience of 25 years. Currently Apex group of Hospitals manages more than 350+ beds and provides qualitative healthcare services to the people of Mumbai and surrounding areas. Apex Hospitals is located in Borivali, Kandivali & Mulund.

www.apexgroupofhospitals.com