PNB and Aadhar Housing Expand in Northeast to Boost Financial Inclusion
Chandigarh, 19 April 2025: PNB Housing Finance Ltd. and Aadhar Housing Finance Ltd. announced their foray into the North East region of the country with the inauguration of their first -ever branch in Guwahati, Assam. This expansion marks a significant milestone in advancing affordable housing solutions, aligned with the government’s mission of ‘Housing for All’ and driving financial inclusion through the Pradhan Mantri Awas Yojana (PMAY) agenda.
With a commitment to fostering home ownership in the underserved North East region, PNB Housing Finance and Aadhar Housing Finance will offer tailored, innovative affordable housing finance solutions as part of a strategic push to bridge the home finance gap in the region. The expansion will not only facilitate access to housing finance, but also boost real estate demand and support regional development.
Mr. Sanjay Shukla, MD, National Housing Board, said, “Thedistinct geographic challenges and developing infrastructure in the North East region presents both opportunities and responsibilities. Real estate and housing finance are complementary sectors which are not only pivotal for the sustainable development of this region, but also catalysts for unlocking its true potential. By widening their presence in this region, both PNB Housing and Aadhar Housing will significantly contribute in driving last-mile financial inclusion, thus empowering the local economy manifold.”
Mr. Girish Kousgi, MD & CEO, PNB Housing Finance, said, “The North East region – armed with a wealth of culture and resources – presents immense opportunities for growth and development. We are thrilled to expand our presence in this region, beginning with Guwahati, and further widening our distribution footprint across the North East. Our comprehensive affordable housing product ‘Roshni’ aims to make a meaningful difference in the lives of people here, ensuring that families can thrive in safe and sustainable environments. We are aligned with the government’s PMAY agenda, and are committed to help aspiring home owners achieve their dreams.”
Mr. Rishi Anand, MD & CEO, Aadhar Housing Finance, said, “Our foray into the Northeast with our first branch in Guwahati marks a significant milestone in our journey. We endeavour to provide home ownership to the Economically weaker segment and Lower middle-income group, empowering them to build a secure future. Guwahati, with its growing economy and vibrant community, is a key market for us, and we are excited to be part of its growth story. In alignment with the Government’s vision of Housing for All, we are committed to making low-income housing accessible to more families in the region. This new branch will bring us closer to our customers in the underserved Northeastern states.”
ICRA Analytics Partners with FTSE Russell to Offer Fixed Income Indices
Mumbai, March 17, 2025: ICRA Analytics Limited, a wholly owned subsidiary of ICRA Ltd, has entered into a collaboration with FTSE Russell, a global leader in providing innovative benchmarking, analytics, and data solutions. ICRA Analytics currently provides comprehensive solutions, analytical tools, and digital platforms for Risk Management, Market Data, and Knowledge Services.
As part of the collaboration, ICRA Analytics will support FTSE Russell by providing valuations for calculating returns on its fixed-income indices. It will also market FTSE Russell’s fixed-income solutions to clients across India.
Founded in 2011, London-headquartered FTSE Russell is well-known for its expertise in creating and managing fixed income indices, which are widely used by asset managers, institutional investors, and financial markets globally. Their indices cover a broad spectrum of fixed-income asset classes, including government, corporate, and emerging market bonds. The company’s fixed income indices are designed to offer transparency, liquidity, and a comprehensive view of the market, enabling investors to make informed choices and manage risks effectively.
Commenting on the collaboration, Jayanta Chatterjee, MD & CEO, ICRA Analytics, said, “We are proud to announce our collaboration with FTSE Russell, whose fixed income indices are designed to offer transparency, liquidity, and a comprehensive view of the market, enabling investors to make informed choices and manage risks effectively. We believe this collaboration will further strengthen our position as a formidable player in fixed income valuations and solutions.”
Ashwini Kumar, Senior Vice President and Head Market Data, ICRA Analytics, said, “India has created its mark in international space. This partnership comes at an opportune time to give the investors a clear view of the market dynamics for their investments, using robust benchmarks based on extensive research and immense experience. I am sure this is going to be a great moment for the investing communities in India and across the globe.
PNB Housing Finance Celebrates Women’s Journeys with ‘AchievHer 2.0’
PNB Housing Finance, one of India’s largest housing finance companies, launched the second edition of its inspirational series— ‘AchievHer 2.0’, reinforcing its commitment to diversity, empowerment, and inclusion. Building on the success of the previous edition, this initiative continues to throw the spotlight on the remarkable journeys of women within the organization, recognizing their resilience, dedication, and leadership across the organization.
‘AchievHer 2.0’ is an extension of the company’s ‘Aikyam’ initiative, a people-first initiative designed to foster a culture of inclusivity and empowerment. Through a compelling video series, the campaign delves into the personal and professional journeys of its female employees, capturing special moments of their achievements, challenges, learnings and growth. PNB Housing Finance remains committed to creating a supportive and thriving workplace, where women are encouraged to break barriers and excel in their respective fields.
Commenting on the initiative, Mr. Girish Kousgi, MD & CEO, PNB Housing Finance, said, “The success of ‘AchievHer’ last year reaffirmed our belief in the power of storytelling. With ‘AchievHer 2.0,’ we are once again celebrating the inspiring journeys of our female employees, who embody determination and excellence. At PNB Housing Finance, we are dedicated to fostering an inclusive culture where every individual, irrespective of gender, can thrive and lead by example.”
Welspun Living Achieves Top ESG Rating in Textile & Apparel Category
Mumbai, India, 19 Feb 2025 – Welspun Living Limited (WLL), a global leader in home textiles, has achieved a remarkable milestone in sustainability, securing a total ESG score of 83 in the 2024 S&P Global Corporate Sustainability Assessment (CSA). This recognition solidifies WLL’s ongoing leadership as the highest-ranked textile manufacturing company from India in the Textile, Apparel & Luxury Goods category. The score also places WLL at the 4th position globally in the aforesaid category of the CSA. The company has demonstrated a significant 26% improvement from its 2023 score of 66, highlighting its commitment to sustainable business practices and responsible growth.
WLL’s impressive performance is reflected across all three key pillars of the assessment: Governance & Economic (79), Environment (85), and Social (84). The company’s continuous advancements in sustainable manufacturing, ethical sourcing, and environmental stewardship have played a crucial role in this achievement. With a strategic focus on innovation, transparency, and circular economy principles, WLL continues to lead the way in embedding sustainability into its core business operations.
Welspun Living Limited has outperformed industry benchmarks in ESG performance. It scored 85 in Environmental (industry mean: 34, highest: 96), 84 in Social (mean: 34, highest: 91), and 79 in Governance & Economic (mean: 38, highest: 88). These scores highlight Welspun Living’s leadership in sustainability and excellence in the industry.
Commenting on this accomplishment, Dipali Goenka, MD & CEO, Welspun Living Limited, said: “We are incredibly proud of achieving the Fourth position in the Textile, Apparel & Luxury Goods category globally in the S&P CSA with a score of Eighty Three this year. This accomplishment is a testament to the hard work and dedication of our entire team, who continuously strive to integrate sustainable practices into every aspect of our business. At Welspun Living, we believe that responsible growth goes hand in hand with innovation and transparency, and we remain committed to leading the way in sustainable manufacturing and setting benchmarks in the industry”.
Alok Mishra, President & Group Head – Sustainability, added: “This remarkable improvement in our ESG score is a result of our efforts to address the company’s ESG risks holistically and build a future proof organization. It’s a proof of our belief that economic growth and environmental stewardship can co-exist. The success re-energises us to continue working towards our long-term vision of creating impact-driven solutions for a better world.”
As sustainability continues to shape the global business landscape, Welspun Living remains dedicated to enhancing its ESG initiatives, setting new benchmarks for responsible growth in the textile industry. The company’s strategic roadmap focuses on decarbonization, water conservation, circular economy, and social empowerment, ensuring a holistic approach toward long-term value creation.
South Indian Bank wins 5 awards at the 20th Annual IBA Technology Awards 2024
Mumbai, 12 February 2025: South Indian Bank (SIB), well known for its novel contributions in banking technology, was recognised at the 20th edition of the Annual Banking Technology Awards 2024. The awards reflect SIB’s commitment to delivering innovative and customer-centric digital solutions.
The Annual Banking Technology Awards 2024, were part of the Annual Banking Technology Conference, Expo & Citations, organised by the Indian Banks’ Association (IBA). The awards recognise organisations that have brought in transformational changes in their businesses by adopting modern digital solutions. At a glittering ceremony on January 24 in Mumbai, SIB was declared the winner in the category of ‘Best Tech Talent & Organization’. Additionally, SIB received a special mention in the categories of ‘Best Digital Sales, Payments & Engagement’, ‘Best IT Risk Management’ and ‘Best Fintech, & DPI Adoption’. Moreover, the Bank was adjudged runners-up in the ‘Best Financial Inclusion’ category.
Mr. P R Seshadri, MD & CEO, South Indian Bank, expressed joy at the achievement, “We are honoured to receive these prestigious recognitions from the IBA yet again. These awards underscore our commitment to leveraging technology to enhance customer experience, drive financial inclusion, and ensure secure digital transactions. The awards acknowledge our efforts toward nurturing talent and building a strong tech team. It encourages us to continue our drive of continuous innovation, uncovering novel banking solutions for all our stakeholders, while also affirming our position as a forward-thinking financial institution.”
Boost Coverage Not Budget with Bajaj Allianz Life’s Critical Illness Rider
Chandigarh,30 January, 2025: Bajaj Allianz Life, one of India’s leading private life insurers, has launched Bajaj Allianz Life New Critical Illness Benefit Rider, a non-linked, non-participating, individual, pure risk health rider, covering up to 60 major critical illness (CI) conditions. It is a smart add-on designed to strengthen financial protection against major health setbacks, ensuring customers’ savings stay intact during a medical crisis. Customers can avail the rider with the Company’s flagship term plan Bajaj Allianz Life e-Touch II.
Designed to bridge gaps in healthcare costs, Bajaj Allianz Life’s new Critical Illness Benefit Rider provides critical financial support across different customer needs. For those without Mediclaim, it acts as a financial cushion, preventing savings from being depleted during a medical emergency. For those with a basic Mediclaim cover (e.g., ₹5 lakh), it helps bridge the gap between policy limits and actual treatment costs, which can often exceed coverage. Even for those with a higher Mediclaim cover (e.g., ₹50 lakh), this rider ensures financial stability by covering loss of income and protecting one’s lifestyle, making it a vital addition to a well-rounded financial plan.
Tarun Chugh, MD & CEO, Bajaj Allianz Life said, “adding the Critical Illness Rider to your policy is like a booster shot for your financial health—an extra layer of protection against life’s medical uncertainties. A serious illness can bring unexpected expenses forcing you to dip into your savings and potentially disrupting your long-term financial plans. This rider ensures that doesn’t happen. With an affordable yet powerful safeguard, Bajaj Allianz Life helps you stay financially secure and focused on your life goals”.
Key features of Bajaj Allianz Life New Critical Illness Benefit Rider:
- Broad Coverage: With a minimum age of 18 years to maximum of 80 years, one can get protection against a wide range of critical illnesses including cancer, heart attack, stroke, and more.
- Flexible Options: Choose from three rider options like Critical (10 major CIs), Enhanced (25 major CIs), and Comprehensive (60 major CIs) tailored to individual needs.
- Tax Benefits: Offers tax deductions as per eligibility.
- Health Management Services: Access to medical second opinions and consultations from registered service providers.
HDFC Securities and KFin Technologies Partner to Accelerate NPS Adoption
Chandigarh, January 28, 2025 – HDFC securities, a leading stock broking company, and a wholly owned subsidiary of HDFC Bank, announced a strategic partnership with KFin Technologies Limited (KFintech), one of the largest Central Recordkeeping Agencies (CRAs) in the country, to enhance the accessibility and adoption of National Pension System (NPS) amongst its subscribers. HDFC Securities has an extensive network of over 3.5 lakh subscribers and over 2700 corporate clients.
CRAs are crucial to the NPS ecosystem, providing centralized management of subscriber records, ensuring transparency, and streamlining account management. It enables subscribers to track contributions, monitor investments, and make changes easily. KFintech’s CRA platform offers several innovative features designed to enhance user experience and security, with subscribers benefiting from flexible transaction statement downloads across any date range, and real-time SMS notifications for all contribution modes. The platform combines enhanced security features like dual-factor authentication through password and SMS OTP with dedicated portals for subscribers, complemented by WhatsApp services and a missed call facility for easier access.
Commenting on the partnership, Mr. Dhiraj Relli, MD & CEO, HDFC securities, said, “We’re excited to partner with KFintech to enhance our service offerings. This collaboration will enable us to provide our subscribers and corporate clients with a superior technological platform for NPS management. The timing couldn’t have been better, as we’re seeing increased interest in Corporate NPS following the enhanced tax benefits, and typically, these are the initial months of the year.”
“KFintech has demonstrated its technological leadership in the industry by contributing to 47% of new registrations growth, the highest among CRAs. This partnership will leverage the technological advantage to streamline the onboarding process and enhance the user experience for our new subscribers and corporate clients. Together with KFintech, we’re well-positioned to drive greater pension penetration in the corporate sector.” added, Mr. Relli.
Sreekanth Nadella, MD & CEO at KFin Technologies, said, “The rapid digitization of financial services has created a unique opportunity to reshape the pension landscape in India. As part of our commitment to democratizing pension coverage across the country, this partnership with HDFC securities marks a transformative step forward. By leveraging our comprehensive digital solutions, combined with HDFC securities’ robust corporate network, we aim to create a powerful synergy that will significantly enhance access to NPS across the country.”
The partnership comes at an opportune time as the Government of India has recently enhanced tax benefits under corporate NPS from 10% to 14% of basic income, driving increased interest in the corporate NPS market. Currently, with only 18,700 corporations registered under Corporate NPS and 21.6 lakh subscribers, there is substantial growth potential in this segment.
Mahindra Susten Gets SBTi Nod for Emissions Target
Chandigarh, January 22, 2025: Mahindra Susten, the clean-tech arm of the Mahindra Group, has secured approval from the Science Based Targets initiative (SBTi) for its near-term climate commitment targets. This extraordinary achievement is a testament to Susten’s pursuit of excellence and steadfast commitment to a sustainable future.
Science Based Targets initiative (SBTi) is a collaboration between CDP, the United Nations Global Compact, World Resources Institute and the World Wide Fund for Nature. The corporate climate action organisation defines and promotes best practice in science-based target setting and independently assesses companies’ targets.
SBTi has endorsed Mahindra Susten’s commitment to reduce absolute scope 1 and 2 greenhouse gas (GHG) emissions 51.8% by FY30, from a FY21 base year. Susten also commits to reduce scope 3 GHG emissions 51.6% per megawatt peak (MWp) over the same period. These targets align with the Paris Agreement’s goal to limit global temperature rise to 1.5°C, positioning Susten as a critical player in the global fight against climate change.
“Our commitment to sustainability is unwavering. Securing the Science Based Targets initiative (SBTi) validation underlines our dedication to aligning responsible business growth with global climate goals, and reaffirms our mission to reimagine clean energy and empower lives,“ said Deepak Thakur, MD & CEO, Mahindra Susten.
“We have already achieved 100% water positivity, ensuring we replenish more water than we consume, and obtained a Zero-Waste-to-Landfill certification for our 1.5 GWp developed portfolio by rigorously reducing and recycling material waste. Additionally, to foster a resilient and sustainable supply chain, we have taken proactive steps to assess the ESG practices of key suppliers. We uphold operational excellence and transparency by maintaining a strong compliance record and diligent data validation. Looking ahead, we aspire to generate energy from the world’s greenest and most efficient renewable power plants—setting a benchmark for sustainable green power generation on a global scale,“ Mr. Thakur added.