Thursday, November 12

Business

ICICI Prudential Life Insurance Reports Record 99.35% Claim Settlement Ratio for Q1-FY2025
Business

ICICI Prudential Life Insurance Reports Record 99.35% Claim Settlement Ratio for Q1-FY2025

ICICI Prudential Life Insurance has set a new industry benchmark with a remarkable claim settlement ratio of 99.35% for the first quarter of FY2025, reaffirming its commitment to customer satisfaction in the Indian life insurance market. The company settled death claims worth ₹381.24 crore during this period, with an impressive average turnaround time of just 1.2 days for non-investigative claims. Mr. Amish Banker, Chief Operations Officer of Customer Service, emphasized the importance of trust in the insurance industry, stating, “Life insurance ensures financial security for families in the absence of an earning member. We process claims with sensitivity and speed, reflected in our leading ratio.” This achievement highlights ICICI Prudential's consistent performance, improving from a ...
Indusind Bank Q2 business update: Advances increase 13%, deposits grow 15%
Business, News

Indusind Bank Q2 business update: Advances increase 13%, deposits grow 15%

IndusInd Bank on Friday (October 4) released its business update for the quarter ended September 30, 2024. The bank reported a 13% year-on-year (YoY) growth in net advances to ₹3.57 lakh crore from ₹3.15 lakh crore in the corresponding quarter last year.On a quarter-on-quarter (QoQ) basis, net advances grew 3%, standing at ₹3.48 lakh crore in June 2024.Deposits as of September 30, 2024 grew by 15% to Rs 4.13 lakh crore as compared to Rs 3.60 lakh crore in the same period last year.The bank also reported a 4% quarterly growth in deposits, which stood at ₹3.99 lakh crore in June 2024.The bank's CASA (current account savings account) ratio fell marginally to 35.9% from 36.7% in the previous quarter and 39.4% a year ago.Despite the plunge, retail deposits and deposits from small business cust...
Vi launches ‘Game to Fame’ tournament, usher in a new era for eSports in India
Business

Vi launches ‘Game to Fame’ tournament, usher in a new era for eSports in India

In the run-up to the India Mobile Congress 2024, leading telecom operator Vi has announced the launch of its first ever grass-roots eSports tournament–‘Vi Game to Fame’. India is among the top markets for gaming, accounting for approximately 20% of the world’s total mobile game downloads. Vi Game to Fame aims to bring together amateur esports enthusiasts from across the country to compete, collaborate, showcase their skills, and earn an opportunity to shine at not only a national but also an international level.  Vi Game to Fame highlights the company’s commitment to enable exciting immersive digital experiences for its customers and foray into gaming with a comprehensive mobile gaming platform—Vi Games. Registrations for Vi Game to Fame opens from 1st October till 5th October ...
IREDA H1 Business Update: Disbursements upgrade 56%, loan book nears ₹65,000 crore
Business, News

IREDA H1 Business Update: Disbursements upgrade 56%, loan book nears ₹65,000 crore

State-run Indian Renewable Energy Development Agency (IREDA) Ltd. reported its business update for the April-September period in an exchange filing on Monday evening.For the first half of the current financial year, which ended on September 30, the loans sanctioned by IREDA increased by 303% from last year to ₹17,860 crore from ₹4,437 crore worth of loans that it sanctioned during the same period last year. In terms of disbursements, IREDA disbursed 56% more loans in the period that ended on September 30, compared to the same half last year. The company disbursed loans worth ₹9,787 crore, compared to ₹6,273 crore last year. At the end of the first half, IREDA's loan book outstanding stood at ₹64,500 crore, which is a 36% growth from the year-ago quarter, when the PSU's loan book sto...
Meghalaya Health Minister emphasizes cancer-free future, calls for affordable care
Business

Meghalaya Health Minister emphasizes cancer-free future, calls for affordable care

At the ‘FICCI Roundtable for the North-Eastern Region,’ Meghalaya Health Minister Dr. Lyngdoh emphasized the state’s vision of a cancer-free generation with access to affordable and accurate cancer care. "Our priority is cancer surveillance, and leveraging technology will allow us to save lives," she stated. The roundtable, hosted by FICCI under the aegis of the Ministry of Health & Family Welfare, addressed strategies to make cancer care more affordable across India. Raj Gore, Chair of FICCI’s Cancer Task Force, noted that the Northeast faces unique cancer challenges, with high tobacco consumption driving incidence rates. "The need for comprehensive prevention and early detection is critical," Gore added. Shillong stands to benefit from these efforts. Increased collaboration be...
Oriflame leads the charge in sustain- ability and women empowerment at Swedish Networking Reception
Business

Oriflame leads the charge in sustain- ability and women empowerment at Swedish Networking Reception

Oriflame, the renowned Swedish holistic well-being brand, highlighted its commitment to sustainability and women empowerment at the recent Swedish Networking Reception hosted by the Swedish Embassy. The event, featuring iconic brands such as Ikea, Volvo, H&M, and Tetra Pak, focused on the critical theme of sustainability and its role in enhancing India-Sweden relations. Oriflame made a significant statement with its 100% biodegradable stall, showcasing a close-to-nature approach. The company proudly reported that 80% of its brand partners are women, while 85% of its products sold in India are produced locally, illustrating its impactful contribution to the Indian economy. Edyta Kurek, Senior Vice President & Head of India, expressed, “We are committed to empowering m...
Royal Enfield sales upgrade 11% to 86,978 units in September
Business, News

Royal Enfield sales upgrade 11% to 86,978 units in September

New Delhi: Motorcycle maker Royal Enfield on Wednesday said its total wholesales grew 11 per cent year-on-year to 86,978 units in September.The company had dispatched 78,580 units in September 2023.Sales in the domestic market grew 7 per cent to 79,326 units from 74,261 units in the same period last year, Royal Enfield said in a statement.Exports rose from 4,319 units in September last year to 7,652 units last month.B Govindarajan, CEO, Royal Enfield said, “We have registered consistent growth in the month of September owing to our recent launches. The 2024 Classic 350 continues to solidify its iconic status and popularity among riders and is performing well.”He added that the company's momentum will only increase as it continues to innovate and deliver pure motorcycling experience.
With Nokia NetGuard Endpoint Detection and Response Vodafone Idea strengthens its India network security
Business

With Nokia NetGuard Endpoint Detection and Response Vodafone Idea strengthens its India network security

Vodafone Idea, one of India’s largest telco operators, has tapped Nokia NetGuard Endpoint Detection and Response (EDR) to strengthen network security against rising cyber threats and security vulnerabilities for its consumer and enterprise customers. NetGuard EDR, a telco-specific threat detection suite, will provide Vodafone Idea with real-time, automated monitoring to enable rapid detection and mitigation of endpoint-related security incidents. It will minimize security gaps, reduce the need for extensive testing, and optimize operational costs, while maintaining continuous service availability and performance of the protected endpoints in the entire Operational Technology (OT) network. NetGuard EDR’s vendor-agnostic capabilities will integrate seamlessly with Vodafone Idea’s existin...
Johnson’s Baby leverages technology to protect baby skin
Business

Johnson’s Baby leverages technology to protect baby skin

Johnson's® Baby, a pioneer in baby skincare, has unveiled its latest television campaign, "Irresistible Cheeks," under the broader umbrella of "Protection Pehle Din Se" (Protection from Day One). The campaign, featuring Bollywood stars Anil Kapoor and Sonam Kapoor, showcases the brand's commitment to leveraging technology and innovation to provide the best care for babies. The heartwarming film, conceptualized by DDB Mudra and produced by Flirting Vision, captures a playful interaction between a grandfather and his adorable grandchild. The story unfolds from the baby's perspective, highlighting their resistance to having their "irresistible cheeks" pulled. Sonam Kapoor then reveals the secret behind the baby's soft and smooth skin – Johnson's baby cream. "A newborn's skin is 30% thinne...
Adani Airports to flourish Rs 1,950 crore via NCDs
Business, News

Adani Airports to flourish Rs 1,950 crore via NCDs

Mumbai Adani Airport Holdings is raising Rs 1,950 crore through non-convertible debentures (NCDs) with the primary objective of providing inter-company loans to various airports, including Ahmedabad, Lucknow, Mangalore, Jaipur, Guwahati and Thiruvananthapuram.The NCDs with a coupon rate of 9.35% per annum will primarily cover payments made to the Airports Authority of India relating to prior period regulatory assets approved by the Airports Economic Regulatory Authority of India (AERA).The NCDs have received A+/Stable rating from both India Ratings and Crisil Ratings. Axis Bank and Trust Investment Advisors Pvt are the organisers of the issue which will open on September 30, 2024 with a tenure of 3 years, 11 months and 7 days.