Mumbai, January 21, 2025: The Board of Directors of IDBI Bank Ltd. met in Mumbai today and approved the financial results for the Quarter and Nine month Ended December 31, 2024.

Operating Performance for Q3 of FY 2025

• Net Profit improved by 31% in Q3 of FY 2025 to ₹1,908 crore as against net profit of ₹1,458 crore in Q3 of FY 2024.
• Operating profit improved by 20% in Q3 of FY 2025 to ₹2,802 as against ₹2,327 crore in Q3 of FY 2024.
• Net Interest Income improved by 23% in Q3 of FY 2025 to ₹4,228 crore as against ₹3,435 crore in Q3 of FY 2024.
• Net Interest Margin (NIM) improved by 45 bps in Q3 of FY 2025 to 5.17% as compared to 4.72% in Q3 of FY 2024.
• Cost to Income ratio down by 351 bps in Q3 of FY 2025 to 43.71% as against 47.22% in Q3 of FY 2024.
• Cost of Deposit stood at 4.63% in Q3 of FY 2025 as compared to 4.34% in Q3 of FY 2024.
• Cost of Funds stood at 4.82% in Q3 of FY 2025 as compared to 4.60% in Q3 of FY 2024.

Business Growth

• Total Deposit increased to ₹2,82,439 crore as on December 31, 2024 as against ₹2,58,442 crore as on December 31, 2023 registering a growth of 9%
• CASA increased to ₹1,30,899 crore from ₹1,28,962 crore on YoY basis, reporting a growth of 2%. CASA ratio stood at 46.35%.
• Net advances grew by 18% YoY to ₹2,06,807 crore as on December 31, 2024 as against ₹1,75,001 cr as on December 31, 2023.
• The composition of corporate v/s retail in gross advances portfolio was at 29:71 as on December 31, 2024 as against 29:71 as on December 31, 2023.

Asset Quality

• Gross NPA ratio improved to 3.57% as on December 31, 2024 as against 4.69% as on December 31, 2023.
• Net NPA ratio improved to 0.18% as on December 31, 2024 as against 0.34% as on December 31, 2023.
• Provision Coverage Ratio (including Technical Write-Offs) improved to 99.47% as on December 31, 2024 from 99.17% as on December 31, 2023.

Capital Position

• Tier 1 capital improved to 19.91% as on December 31, 2024 as against 18.04% as on December 31, 2023.
• CRAR improved to 21.98% as on December 31, 2024 as against 20.32% as on December 31, 2023.
• Risk Weighted Assets (RWA) stood at ₹1,87,678 crore as on December 31, 2024 as against ₹1,72,145 crore as on December 31, 2023.
  Significant Developments
• IDBI Bank was adjudged Runner Up in Best Digital Performance & Innovations and Best ESG Initiatives in the Large & Mid-Sized Bank segment at the ASSOCHAM 19th Annual Summit & Awards- Banking & Financial Lending Companies.
• IDBI Bank inaugurated ten Business Correspondent managed Banking Outlets called IDBI SAMEEP offering basic banking products and thus enhancing the Bank’s footprint in a capital light model.
• IDBI Bank launched a feature of booking flights through IDBI Go Mobile+ Application with attractive offers and deals.

Mumbai, January 21, 2025 – Baroda BNP Paribas Mutual Fund has launched the New Fund Offer (NFO) of its Baroda BNP Paribas Energy Opportunities Fund that will open for subscription from January 21, 2025 toFebruary 4, 2025. This scheme enables investors to benefit from the expanding energy sector, as India transitions from a developing to a developed economy.

It is said that “Energy is the key to prosperity”. History shows that countries’ energy demands increase as they transition from developing to developed economies. “As India’s GDP is projected to grow by 1.9x times in the next 5 years, India’s demand for energy is also poised to grow 1.7x times. Our Baroda BNP Paribas Energy Opportunities Fund is positioned to unlock profitable investment opportunities for investors from the developments in India’s Energy sector,” said Suresh Soni, CEO, Baroda BNP Paribas Asset Management India Pvt Ltd (AMC).

Riding India’s Energy Growth Wave

Between 2003 and 2023, Chinese energy consumption, per capita, surged from 1.5 megawatt hours (MWh) to 6.6 MWh, reflecting strong growth tied to GDP expansion. Similarly, South Korea’s energy consumption has closely mirrored its per capita rise in GDP. India is now on a similar growth trajectory, with broad-based energy demand across households, agriculture, industry, commercial establishments, and infrastructure.

” Energy is a broad investment theme comprising almost a third of the stocks of the Nifty 500 index across a range of sectors and sub-sectors. Further, our research shows that not only does the Nifty Energy Total Return Index (Nifty Energy TRI) have a lower price-to-equity and price-to-book ratio compared to the Nifty 500 Total Return Index, but it also boasts higher dividend yield and faster earnings growth compared to the broader market,” said Sanjay Chawla, Chief Investment Officer – Equity and Fund Manager for the scheme.

Energy sources to meet the demand of the economy include coal, crude oil, gas, nuclear, solar, wind, hydro, geothermal, and hydrogen. The Baroda BNP Paribas Energy Opportunities Fund will allocate at least 80% of its assets to equity instruments of companies involved in exploration, production, distribution, transportation, and processing of traditional and new energy across market capitalizations.

Historically Proven Performance

Research by Baroda BNP Paribas AMC highlights that the Nifty Energy TRI has outperformed the Nifty 500 TRI over 3, 5, 7, and 10-year periods ending 31st December 2024&. This long-term outperformance underscores the potential of the energy theme to generate potential returns for investors across time horizons. “Our Baroda BNP Paribas Energy Opportunities Fund may be considered ideal for equity investors with a holding period of three years or more,” added Mr. Soni.

A Future-Ready Portfolio

The scheme will focus on investment opportunities across the traditional energy chain as well as new energy transitions. “Indian energy demand is a secular story that will be powered by the doubling of the size of India’s middle class, lifestyle changes driven by higher incomes, and energy transition. In addition, government’s focus on improving India’s energy security by more than doubling the share of natural gas to 15% of the energy mix by 2030 and boosting our coal security coupled with, the government’s plan to invite bids for 50 Gigawatt of renewable energy capacity annually between FY24-28 will see India’s solar power capacity grow 4X and wind power by 2.5X by 2031-32^. These structural changes aim to open a whole vista of profitable investment opportunities for investors,” added Mr. Chawla.

The Baroda BNP Paribas Energy Opportunities Fund is yet another offering in keeping with the funds houses’s brand promise of ‘Together for more’ designed to bring together the power of markets to create wealth, with cost effective, professional investment management services that help savers progress on the path of prosperity.

In keeping with the governments focus on this key area, several central government schemes promoting the energy sector are currently operational, including the Production Linked Incentive (PLI) on high-efficiency solar modules, the National Solar Mission Rooftop scheme, Viability Gap Funding for battery energy storage systems, and the National Green Hydrogen Mission.

New Delhi, India – January 21, 2025
The management of Newgen Software Technologies Ltd. announced results for the quarter ended December 31, 2024 at its Board Meeting held on January 20, 2025.

Commenting on the Company’s performance, Mr. Diwakar Nigam, Chairman & Managing Director, Newgen Software Technologies Ltd. said – “We continue to solidify our business and cultivate our customer relationships during the quarter. License revenues have grown by 70% YoY during Q3 with good deal velocity and several significant deal closures. We witnessed strong growth in Banking & Financial Services and Government verticals during the quarter. We are also entrenching deeper in the Insurance & Healthcare verticals across markets. We have been recognized in the Gartner® Magic Quadrant™ for Enterprise Low-Code Application Platforms fifth time in a row. We believe, this is a testament to our unwavering commitment to innovation and excellence.”

“We are happy to share with immense pride and satisfaction that Newgen has been certified as a Great Place to Work by the Great Place to work institute in December 2024. We are committed to create a high trust high performance culture at Newgen as we scale up” said Mr. Virender Jeet, CEO, Newgen Software.

January 21, 2025; Mumbai: IIM Sambalpur, one of India’s premier management institutions, hosted a six – day CEO Immersion Programme for the Executive MBA 2024-26 and MBA for Working Professionals2023-25 batches at its Sambalpur campus. The programme aims to equip the batch with practical knowledge, industry trends, and leadership skills through direct interaction with seasoned professionals. As many as 100 executives from different industries participated in the programme that was addressed by over 15 – 25 CXOs of top companies.

In his welcome address, Prof. Mahadeo Jaiswal, Director, IIM Sambalpur, said, “Our campus blends modern infrastructure with Indian ethos, as reflected in its architecture, art, and cultural elements. We have also introduced transformative Drivers for digitalization and Green Technologies like AI, blockchain are set to revolutionize industries by creating unified systems for business processes, from design to sales. This shift will demand a new wave of consulting talent, and MBA graduates will play a pivotal role in leading this transformation.” Prof further said, “As the world transitions to sustainable practices, industries such as oil, gas, coal, and traditional automotive manufacturing will undergo significant changes. These shifts present both challenges and opportunities for leaders equipped with the right skills. Institutions like IIM Sambalpur must lead these transformations. We aim to contribute by fostering a knowledge base that supports global organizations and industries. To this end, we are signing an MoU with an AI-driven learning management system. This initiative will enable IIM Sambalpur to develop and share case studies and articles on a global platform, similar to the renowned Harvard Business Cases.”

Attending the events as the chief guest, Dr. Biswajit Mahapatra, Head of Customer Solutions-CIO Advisory – Amazon Web Services, said “Digital transformation is about reimagining how we think, act, and operate in an increasingly intelligent, interconnected, and instrumented world, where new business paradigms emerge through evolving models, innovative ways of working, and the cultivation of expertise. It’s a shift from merely adding AI to systems to centering every business outcome around AI, fostering democratized innovation and responsive operations. Expertise, once defined by narrow specialization, now demands a comb-shaped approach—deep skills across multiple areas with broad horizontal knowledge—while orchestrated ecosystems, built on collaboration and co-opetition, drive success. Technologies like cloud, blockchain, IoT, and intelligent workflows form the bedrock of transformation, with data as indispensable as air, fueling insights that power this evolution. “

During the programme, selected meritorious MBA female students including, Kratika Krishna Panchal, Sapna Rani, Pallavi Lata, Gunika Kaur and Manjot Kaur from economically weaker sections, awarded a scholarship of one lakh rupees in recognition of their academic excellence. The award was given by Mrs. Sharada Gupta of Delhi, wife of Dr. Girish Mohan Gupta, an MBA for Working Professionals student at IIM Sambalpur Delhi Campus.

The event was attended by Priyadarshi Nanu Pany, CEO of CSM Technology; Nilesh Biniwale, General Manager at Pattern India; Manas Barpanda, National Head at Britannia Industries Ltd.; Padmanabhan S., Senior Vice President at MSN Laboratories; Gulshan Tiwari, J oint President & Plant Head at Hindalco, Jharsuguda; Dr. Debasish Guha, Head of Research TCS innovation Park IIT KHARAGPUR; Aparna Chetan, CHRO at Torry Harris Business Solutions Pvt. Ltd.; Ghanashyam Parida, President & CEO of the Power Vertical at Welspun Corp; Abhishek Kumar Verma, Founder and CEO of Indiano Pelletteria; Dr. Angshuman Ghosh, CEO of MENRV AI; Jay Prakash Singh, CHRO at JSW Steel; Akshay Rakshit, HRBP at BMW Group India; Manish Pandey, Senior Director at Infosys and Head of Infosys Foundation Bhubaneswar; Damodar Mittal, Executive Director at Jindal Steel & Power Limited; Debasish Mallik, President at Hindalco – Hirakud and Rajesh Singh, Senior VP HR & IR at TRL Krosaki Refractories Limited.

Mumbai; January 21, 2025: SBI General Insurance, one of India’s leading general insurance companies, has delivered a robust financial performance during the first nine months of FY25. The company reported a Profit After Tax (PAT) of INR 504 crore, reflecting an impressive year-on-year growth of 273%.

The company’s strong performance is evident across key financial indicators. Its gross written premium (GWP) rose by 10.9%. The gross direct premium (GDP) growth of 10.5% exceeded the industry growth rate of 7.8%. SBI General’s solvency ratio remains strong at 2.12 times, well above the regulatory minimum of 1.50, underscoring the company’s solid financial foundation.

SBI General Insurance’s impressive financial results in 9M FY25 was primarily driven by robust growth across key business segments. The Motor Insurance portfolio achieved an impressive year-on-year growth of 39%, supported by enhanced underwriting strategies and the successful expansion of digital channels for seamless policy issuance and renewals. The Health Insurance segment grew by 12% due to rising healthcare awareness, increased demand for comprehensive coverage, digital adoption, and government policies. The company’s loss ratio improved significantly by ≈4% compared to 9M FY24 through better risk management, efficient claims processing, and data-driven strategies. These performance drivers underscore the company’s strategic focus on innovation and customer-centric solutions.

Commenting on the Company’s performance, Mr. Naveen Chandra Jha, MD & CEO, SBI General Insurance, said “Our strong financial performance in 9M FY25 reflects our steadfast dedication to customer-focused innovation, operational excellence, and sustainable growth. The notable growth across our Motor, Health, and Engineering segments demonstrates our agility in responding to market trends and our commitment to delivering value to policyholders and stakeholders”

Mr. Jitendra Attra, CFO, SBI General Insurance, added: “Our consistent financial performance in 9M FY25 underscores disciplined underwriting practices, a collaborative team effort, and a strong focus on operational excellence. The significant increase in profitability and solvency highlights our robust business fundamentals and ability to foresee and adapt to a dynamic market environment. “

SBI General Insurance continues to build on its growth trajectory, leveraging a customer-centric approach, strong team collaboration, and a diversified product portfolio, all of which contribute to sustained profitability and a growing market presence.

Mumbai, 21 January 2025: Pokiddo, the acclaimed global entertainment brand known for its thrilling trampoline parks, indoor adventure parks, family entertainment centres, and children’s activity centres, has teamed up with Prasuk Jain Hospitality to bring you something truly special. After winning hearts in Pune, Thane, and Delhi, Pokiddo is set to revolutionize children’s entertainment in India with the grand debut of Pokiddo Junior at Raghuvanshi Mills, Mumbai. Spanning an impressive 11,000 sq. ft., this vibrant new destination promises unforgettable moments of fun and excitement for juniors up to 9 years.

Now part of the Snow World Entertainment and Prasuk Jain Hospitality Ventures family, Pokiddo Junior stands alongside renowned brands like The Game Palacio, Snow World, Amazonia, The Game Superpark, Formula Karting, and The Game Ranch.

Combining state-of-the-art design with heartwarming storytelling, the exciting play zones offer a world of thrilling adventures. Bounce off the walls of the playful trampoline park, race your friends on the kiddie-karting track, or dive into a colourful ball pit featuring multiple immersive games to keep you on your toes. For those who prefer a more leisurely pace, the motorboat racing zone offers a serene water adventure, and for added fun, you can go fishing at the pond. The imaginative play zones are where dreams come to life! Step into the magical Princess Room and rock your princess look with dazzling gowns, make-up, bags, and more! Run your own supermarket in the Supermarket Room, complete with shopping carts, fully stocked shelves, and more, or tend to the animals on the farm in the Farmland! Each imaginative play zone sparks creativity, fosters social skills, and ignites a love of learning.

And when it’s time to celebrate, Pokiddo Junior’s dedicated party room provides the perfect setting for unforgettable birthdays and special events. With whimsical themes and exciting activities, every celebration becomes a one-of-a-kind event, just as extraordinary as the child being celebrated!

Inspired by the global success of Pokiddo and recognising the growing demand for unique, family-friendly entertainment in India, Prasuk Jain brought this international brand to Mumbai. The vibrant city, with its bustling energy and diverse population, provided the perfect backdrop for a world-class entertainment destination. Speaking about the launch, Prasuk Jain said, “Pokiddo Junior isn’t just a place, it’s an experience crafted to unlock the wonder and creativity in every child. We’ve designed this space to be more than entertainment—it’s a journey where kids can learn, explore, and dream in a safe and imaginative environment.”

As part of its ambitious expansion plan, Pokiddo Junior is set to open three additional locations in the upcoming year, further solidifying its position as a leader in family-friendly entertainment.

What sets Pokiddo Junior apart is that it isn’t just a play space; it’s a place where children, up to 9 years old, can create lasting memories and learn pivotal life skills while having fun. Designed with a child’s eye for adventure, the interior design is a masterpiece of playful aesthetics, with vibrant colours, whimsical murals, and interactive elements that transport children to a world of wonder. The thoughtfully designed space seamlessly flows between different play zones, allowing children to explore freely and discover new adventures at every turn. Safety is a top priority, with cushioned materials and low-height setups creating a secure and enjoyable environment for all. Engaging LED lights and sensory elements add a futuristic touch, transforming the arcade into a truly immersive experience.

After a day of fun and adventure, relax and refuel at the cozy Brasserie, which boasts a delectable menu of healthy and delicious treats that are as magical as the play zones themselves. From bite-sized delights to colourful, nutritious desserts, every dish is a work of art, crafted with the finest ingredients and presented in whimsical fashion–think: pizzas in unique shapes and indulgent, magical smoothies. The interior design seamlessly blends with the overall theme of the space, creating a cohesive and immersive dining experience.

With its central location in Lower Parel and a commitment to quality and safety, Pokiddo Junior is set to become the city’s go-to destination for family outings, birthday parties, and creative workshops. Families are invited to step into the enchanting world of Pokiddo Junior, where every moment is a chance to create magical memories.

Surat, Gujarat, New Delhi, 21 January 2025: His Excellency Abdulnasser Alshaali, UAE Ambassador to the Republic of India, visited Surat to strengthen bilateral ties and explore investment and trade opportunities.

During the visit, Ambassador Alshaali participated in a business roundtable convened by the Southern Gujarat Chamber of Commerce and Industry (SGCCI), held in collaboration with the UAE-India CEPA Council. This meeting with close to 50 local companies and senior members of the SGCCI, including Shri Vijay Mevawala, President of the SGCCI; Shri Paresh Bhatt, CEO of SGCCI Global Connect; Shri Devkishan Manghani, Chairman of SGCCI Global Connect; and Shri Ramesh Vaghasia, Past President of the SGCCI, highlighted the key role Surat and the state of Gujarat play in fostering bilateral collaboration between the UAE and India. Discussions focused on ways to increase investment between UAE and Indian businesses, and opportunities to expand current levels of trade in crucial sectors, including textiles, manufacturing, gems and jewellery, and agricultural products.

At the roundtable discussion, Ambassador Alshaali said: “The state of Gujarat is essential to the broader UAE-India bilateral partnership. In the 2023-24 Indian fiscal year, Gujarat led all other Indian states in total trade with the UAE, amounting to USD 32.11 billion – an impressive 38.39 percent of trade conducted between the UAE and India over this same period. Leveraging key initatives such as the UAE-India Comprehensive Economic Partnership Agreement is vital to further expanding our trade, economic, and investment ties.”

The visit to Surat also provided an opportunity for the UAE Ambassador to India to undertake a tour of the the Surat Diamond Bourse (SDB), the world’s largest office building, and to engage with local diamond traders. During the tour of the bourse, Ambassador Alshaali met with senior members of the SDB Management Committee.

The UAE-India CEPA, implemented in May 2022, has further bolstered the exchange in diamonds and other precious commodities between the two countries, creating new opportunities for collaboration and growth. The CEPA has contributed to a significant reduction in costs, increases in exports and retail sales, and has allowed Indian jewellers to compete more effectively on a global scale.

Bengaluru, 21 January 2025: Couples affected by infertility will no longer need to travel to distant cities for treatment. Indira IVF, the largest fertility treatment chain in India, has opened its state-of-the-art center on the 3rd floor of Coronet green, Bellandur Gate, Sarjapur road, Bengaluru. This facility brings advanced fertility care closer to the residents of Bengaluru and surrounding areas, reinforcing Indira IVF’s mission to make high-quality reproductive healthcare accessible to couples facing infertility challenges.

The inauguration ceremony was graced by Dr. Rekha Rajendrakumar, President of the Bangalore Society of Obstetrics and Gynaecology, as the Chief Guest. The event was also attended by Dr. Snehadarshini Karanth, Centre Head and Executive Director, Indira IVF Sarjapur, and esteemed Guests of Honour, including Dr. N. Shailaja, Senior Consultant at Shree Krishna Clinic,Bengaluru; Dr. Shyam N. Gupta, Obstetrician, Gynecologist, IVF Specialist, and South Zonal Business Director, Indira IVF J.P. Nagar; Dr. Radha S. Rao, Senior Consultant at Janani Clinic, Bengaluru-Jayanagar; Dr. Vandana U.C., Senior Consultant Anesthesiologist and Academic Faculty; and Dr. Dinesh A.S., Senior Consultant Anesthesiologist at Indira IVF J.P. Nagar.

With this addition, Indira IVF furthers its commitment to closing the gap in fertility care across India. Since its inception in 2011, Indira IVF has remained at the forefront of reproductive healthcare, leveraging cutting-edge Assisted Reproductive Technology (ART) to support couples in their journey to parenthood. This new centre in Sarjapur is equipped with advanced technology and a dedicated team of specialists to address the unique challenges faced by couples in the region.

Mr. Nitiz Murdia, Managing Director & Co-Founder of Indira IVF group, emphasized the importance of ensuring fertility care reaches underserved areas, stating, “The launch of the Sarjapur centre is a testament to our ongoing commitment to bridging the gap in fertility care, particularly in regions where access has been limited. By extending our network, we aim to ensure that advanced fertility treatments are within reach for more couples. At Indira IVF, our mission is to deliver not just state-of-the-art technology but also the empathy and support needed to help families navigate their journey to parenthood with confidence.”

Dr. Shyam Gupta, South Zonal Business Director, Indira IVF J.P. Nagar, said that awareness about fertility treatment in India is quite limited. One in six couples faces problems in conceiving. It is essential to understand that infertility can be due to either the male, the female, or both. Assisted reproductive technology provides appropriate treatment facilities to support both men and women on their journey to parenthood.

The exhibition marks a decade of partnership between Societe Generale and Aseema, which strives to provide high-quality education to children from marginalised communities in Mumbai & Igatpuri. The event features 200 artworks by students from Aseema’s Room 13 Art Programme. This program, inspired by an original initiative in Scotland, encourages students to explore diverse artistic genres and express their creativity. Drawing inspiration from renowned artists like Henri Matisse and Claude Monet, the students use mediums such as crayons, watercolors, and acrylics to bring their imaginations to life.

This one-of-a-kind exhibition allows Aseema’s students to showcase their artistic talents in a professional setting, building confidence and a sense of achievement. Supported by Societe Generale, Aseema provides value-based education to more than 3,500 children from marginalised communities each year. In addition to academics, the program emphasises co-curricular activities including art, music, and sports, promoting holistic development and equipping students with 21st-century skills. Over its 26-year journey, Aseema has helped thousands of children from marginalised communities in Mumbai and tribal areas in Igatpuri to realize their full potential.

Katan Hirachand, Chief Executive and Chief Country Officer at Societe Generale India, said:

“Beauty Without Boundaries is more than an exhibition – it’s a celebration of our shared vision with Aseema to inspire and empower the next generation. The creativity and resilience displayed in these artworks affirm our belief in the transformative power of education and social inclusion.”

Dilbur Parakh, Founder at Aseema Charitable Trust, added:

“We are deeply grateful to Societe Generale for their unwavering support and encouragement over the past 10 years. As a result of their commitment, all Aseema schools now have dedicated art studios where children can develop their skills and create beautiful works of art. We hope that Aseema paintings and products are recognised and appreciated as genuine works of art, reflecting the creativity and talent of these remarkable children.”

Societe Generale’s philanthropic efforts centre on education, culture, and the environment—key pillars of a thriving and sustainable society. With a legacy of supporting classical music since 1987, contemporary art since 1995, and youth education and professional integration since 2006, the Group is now broadening its focus to include environmental initiatives. This evolution reflects its commitment to driving the environmental transition, both through its own operations and by supporting its clients on their sustainability journeys.

New Delhi/Mumbai, January 21, 2025: Bharti Airtel, one of India’s largest telecom services providers and Bajaj Finance, the country’s largest private-sector Non-Banking Financial Company (NBFC), today announced a strategic partnership to create one of India’s largest digital platforms for financial services and transform last mile delivery.

The one-of-a-kind partnership brings together Airtel’s highly engaged customer base of 370 million, 12 lakh+ strong distribution network, and Bajaj Finance’s diversified suite of 27 product lines, and distribution heft of 5,000+ branches and 70,000 field agents.

Airtel will initially offer Bajaj Finance’s retail financial products on its Airtel Thanks App for seamless and secure customer experience, and later through its nation-wide network of stores. The combined strength of the companies’ digital assets will enable Airtel and Bajaj Finance to significantly deepen penetration of financial products and services.

Gopal Vittal, Vice Chairman and MD, Bharti Airtel, said, “Airtel and Bajaj Finance, two trusted names in this country, have the shared vision of empowering millions of Indians with a diverse portfolio of financial needs. The combined reach, scale and distribution strength of the two companies will serve as the cornerstone of this partnership and help us succeed in the marketplace. We are building Airtel Finance as a strategic asset for the group and will continue to invest in and grow the business. Today. we are trusted by over 1 million customers and our vision is to make Airtel Finance a one-stop shop for all the financial needs of our customers.”

Rajeev Jain, Managing Director, Bajaj Finance, said, “India’s digital ecosystem has been at the heart of data-driven credit underwriting and financial inclusion. Our partnership with Airtel not only leverages India’s digital infrastructure for inclusive growth but also brings together the expertise and reach of two of India’s leading and most-trusted brands. Together with Airtel, we seek to be the financier of choice to India and enable millions to access financial services, even in remote areas. We are excited to join hands with Airtel at a time when Bajaj Finance is harnessing the power of AI to enhance efficiencies and elevate customer experiences.”

So far, two products of Bajaj Finance have been piloted on the Airtel Thanks App. By March, four products of Bajaj Finance will be available to customers on the Airtel Thanks App. These include Gold Loan, Business Loan, a co-branded Insta EMI Card and Personal Loan. Airtel will progressively offer close to 10 financial products of Bajaj Finance within this calendar year.

Airtel customers have the opportunity to apply for the Airtel-Bajaj Finserv Insta EMI card via the Airtel Thanks App and later through its nation-wide network of stores. Airtel-Bajaj Finserv EMI card provides access to a range of offers available to Bajaj Finance customers. Users will benefit from flexible EMI options and payment plans for purchasing various goods, including electronics, furniture and groceries at over 1.5 lakh partner stores across more than 4,000 cities. Additionally, the co-branded card is applicable for e-commerce transactions on multiple platforms.

The Airtel Thanks App now also enables customers to secure a gold loan, enabling new-to-credit customers to access finance and integrate with the formal financial system.

As part of the partnership, both the companies are committed to strong regulatory compliance, data privacy and security, and seamless customer service.