Capital support for Indian govt banks to determine loan growth: Fitch - The Daily Guardian
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Capital support for Indian govt banks to determine loan growth: Fitch

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Mumbai (Maharashtra), Feb 8 (ANI): Indian state-owned banks will be forced to continue on a path of risk aversion and soft loan growth without adequate capital support from the state, according to Fitch Ratings.
The banks have so far managed to avert further pressure on their weak core capitalisation on the back of regulatory forbearance, limited risk underwriting and lower credit growth.
Fitch said it expects a moderately worse operating environment for the Indian banking sector in 2021, anchored to its belief that the banks’ prospects for new business and revenue generation are likely to remain muted.
However, the sector can bounce back faster if state banks — accounting for 60 per cent of sector assets — were substantially recapitalised.
It can potentially mitigate capital risk on account of a weak asset-quality outlook and limited loss-absorption buffers while leaving enough for the banks to benefit from subdued — but very slowly recovering — corporate and consumer confidence — broadly in line with private banks.
State banks’ access to capital markets is currently limited. They collectively raised equity of about 1 billion dollars between August to December 2020 from the capital markets as banks had to settle for considerably smaller amounts even when compared with their modest expectations.
In contrast, large- to mid-sized private banks raised close to 6.8 billion dollars in 2020-2021, adding roughly 125 to 250 basis points in terms of risk-weighted assets versus 20 to 60 basis points by state-owned banks.
Fitch estimate pegs the sector’s capital requirement between 15 billion to 58 billion dollars under various stress scenarios for the next two years, of which state banks account for the bulk. (ANI)

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We will establish R-commerce across India, says Pumpkart founder

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New Delhi [India], March 2 (ANI/SRV Media): Pumpkart and Figgital are all set to establish offline stores across India! Recently Pumpkart also launched its electronic chain FIGGITAL. Pumpkart and its new electronics chain “FIGGITAL” is going to establish themselves in rural areas by bringing rural e-commerce on their platform and Pumpkart is now going to establish offline stores in rural areas across India.
They are bringing something out of the box which will be beneficial for rural areas and they are given a new name to the nation i.e R -commerce. The Founder of Pumpkart and Figgital, Bhatia exudes an indomitable will that has helped him reach new heights with each passing day.
Pumpkart has been recognized by Sundar Pichai in the past and is proving its worth after rising to the top of the market. The company initially sold pumps and agricultural equipment and further added a range of consumer durables. However, due to the segment-specific name of the company, Bhatia was unable to add electronics under the wide range of products available on Pumpkart.
To overcome this hurdle, Bhatia launched another venture for the supply of electronic goods called Figgital. Figgital is India’s first online and retail smart app. The online and offline shopping experience at Figgital includes an immense collection of more than 2000 products from multiple categories such as smartphones and tablets, smart televisions, home appliances, smart devices, accessories and more.
The pandemic turned out to be a blessing in disguise for KS Bhatia and the resurgence of Pumpkart. With the supply chain badly affected, Pumpkart could capitalize and fill in the gaps with their products. From then on, in the months of May and June in 2020, Pumpkart was able to launch 15 franchises in Punjab and Himachal Pradesh. Furthermore, the B2B company also converted 13 existing service franchises into Pumpkart franchises.
The same followed for Figgital as another 25 franchises of the electronics venture were set up. By September 2020, Pumpkart and Figgital had received grants from the state to open more than 150 stores of both ventures. They utilized the dual model of online and offline stores in this platform effectively to boost Business. K.S. Bhatia says the entrepreneur in me still didn’t give up and I thought of doing something innovative while sitting at home during a pandemic.
KS Bhatia, Founder and CEO, on their journey so far, says, “We were amongst the millions of businesses that were affected by the global pandemic. However, with enough presence of mind and situational awareness, we were able to turn things around for Pumpkart as well as Figgital. Especially with the launch of Figgital, India’s first electronic chain for masses which will open in the rural market, our numbers have soared. There are no players in modern retail who deal with this in rural areas. We aim to open 500+ stores of Pumpkart and Figgital across the nation. The Atmanirbhar initiative has been great in terms of promoting Indian entrepreneurs and has helped us immensely.”
With a team of 2-3 people from Chandigarh, the company was able to capitalize on the ongoing situation and expand the business rapidly. The company aims to open technologically driven stores rather than the common brick and mortar stores. Most of the stores now are dependent on selling online and work towards ensuring 50 percent online orders.
Pumpkart is currently allied with 10,000+ resellers and numerous franchise partners across four small states. It is Bhatia’s vision to make Pumpkart the biggest farm equipment and machinery store and Figgital the biggest electronics store for masses in India. Along with that, the company firmly believes in cutting out the middlemen to prevent malpractices or unfair prices. To achieve this, Pumpkart plans to launch 500 stores of both ventures by 2022.
The story of Bhatia and Pumpkart is of perseverance and unflinching passion to achieve the goals. Their trajectory has only been upwards and
Pumpkart has carved a place for itself in the industry. The company strives to bring well-known brands in a single place and provide opportunities to franchisees and retailers to scale their business.
This story is provided by SRV Media. ANI will not be responsible in any way for the content of this article. (ANI/SRV Media)

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RATIONAL launches iCombi Pro in India, the Intelligent and super powerful combi-steamer

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Gurugram (Haryana) [India], March 2 (ANI/BusinessWire India): Meeting the patrons’ demand of real-time food delivery and hygienically prepared foods is the key to remain relevant as a brand in the highly competitive foodservice market in the current times.
To help businesses meet these requirements, professional kitchen technology leader RATIONAL has launched the intelligent iCombi Pro in India.
Possessing an array of user-friendly functions and promising a 50 per cent increase in productivity while cutting down on the cooking time, water and energy consumption by 10 per cent each compared to the previous model, the new iCombi Pro assures seamless performance and consistency in foods, even at full loads.
Equipped with four intelligent functions – iProductionManager, iCookingSuite, iDensityControl and iCareSystem, the iCombi Pro is furnished to cook the food exactly how the chefs need, by helping them maintain optimal humidity and temperature in the foods, plan the inventory to be cooked intelligently, attain reliable results and with the ultra-fast interim clean function, it can also clean itself in just 12 minutes without the hassle of manual labour.
Speaking about the launch of iCombi Pro in India, Vikram Goel, Managing Director, RATIONAL India, said, “Many catering establishments are experiencing skills shortages and cost pressures alongside higher expectations from their customers. Chefs, therefore, require flexible, simple and efficient support from intelligent functions such as those in the iCombi Pro.”
Intelligent to sense the size, texture and quantity of food being loaded, the iCombi Pro analyses quickly the need of cooking required by the same, while also optimising the cooking time by adapting to the temperature of the food product as well as the external factors like frequent door opening causing fluctuation in the inside temperature, etc.
Its intuitive operating concept guides the user through the production sequence with visual language, logical work steps and clear, interactive instructions which makes the cooking system quickly accessible even for untrained staff. Wi-Fi is also integrated into the iCombi Pro providing a fast and simple connection to the RATIONAL network ConnectedCooking and efficient management of kitchen processes.
“Due to its intelligence, the iCombi Pro responds just like an experienced chef. It takes on routine tasks and provides freedom. This will sustainably change working methods in large kitchens,” concludes Goel.
Customers looking to explore the new cooking system and its performance live in action can visit www.rational-online.com and register for an iCombi Live session near to their location.
Facebook http://facebook.com/RATIONAL.AG
Twitter http://twitter.com/RATIONAL_AG
YouTube http://www.youtube.com/user/RATIONALAG
LinkedIn https://www.linkedin.com/company/rational-ag/
This story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article. (ANI/BusinessWire India)

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VAIO to set up 24×7 service support for customers in India

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New Delhi [India], March 2 (ANI/NewsVoir): VAIO, the pioneer brand for tech-savvy, new-day laptops, has introduced its customer care helpline in India. Reassuring patrons of its proactive approach and round the clock services, VAIO’s customer support is a toll-free helpline (1800-103-9635) and will be available 24×7 at the convenience of the clients pan India.
The latest toll-free support initiative indicates the relentless efforts of VAIO to connect with its customers and presents a helpful front to cater to its customers to resolve all concerns related to maintenance and product information.
Tending to software as well as hardware glitches, the laptop-owners can now directly reach out to the customer support and smoothly sail through any mild/grave issues in context to the VAIO models. Projecting a customer-centric approach and delivering the best of all worlds to the patrons, the brand endeavours to become the go-to name in the Indian market.
With a spirit of ingenuity, unique design, and technological advancements, the brand reintroduced itself to the Indian market recently and is only making it easier for the customers and tech-buffs to swoon over the Japanese craftsmanship and expertise.
Levelling up the tech-game in the country and offering modern-day digital collaboration with technology, VAIO is retracing its way back and creating an upward spiral of growth for itself while inspiring others in the same league.
Commenting on the launch of the customer helpline, Seema Bhatnagar, Regional Business Director (South Asia) and Country General Manager said, “We are delighted to announce the launch of new VAIO 24×7 customer service helpline for the Indian audience. We have always had a proactive approach in helping and supporting our premium customers and with this helpline, we aim to extend the same devotion throughout the day. Aiding the customers with any kind of technical and non-technical difficulties, we aspire to become more accessible to our patrons as they reach out to us on 1800-103-9635 for best customer experience.”
VAIO Corporation was established on July 1, 2014, spinning off from Sony’s PC business. With its headquarters and manufacturing base located in Azumino City, Nagano Prefecture, it is engaged in planning, design, development, manufacturing, sales and ancillary services in the PC business and EMS business.
VAIO Corporation, which inherited the VAIO PC business from Sony Corporation, was established on July 1, 2014, headquartered in Azumino, Nagano Prefecture, Japan. VAIO Corporation is dedicated to planning the design, development, manufacturing and sale of PCs and related products labelled with the VAIO trademark.
For more information, please visit in.vaio.com.
This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)

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HealthAsyst launches its patient intake platform, CheckinAsyst, to Epic user community

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Norcross (Georgia) [USA], March 2 (ANI/BusinessWire India): HealthAsyst, a specialised healthcare technology solutions provider, is pleased to announce that it is now an App Orchard contributor. Through the App Orchard platform, HealthAsyst has made available its patient intake and communication platform to the Epic user community.
“We are very excited that CheckinAsyst is now available in the Epic App Orchard,” said Umesh Bajaj, the CEO of HealthAsyst. “It allows Epic’s large user base to take advantage of our digital intake and communication platform to enhance patient engagement and ensure a safe and convenient intake for patients during COVID-19 and beyond.”
CheckinAsyst is designed to enhance the patient experience by providing convenient communication options and streamlined intake workflows that make the process of checking in and paying outstanding balances and copays simple.
Its features include:
* Discrete, bidirectional integration
* A zero-touch workflow where patients complete pre-visit registration before arriving at the facility and confirm arrival via kiosk or by scanning a QR code
* A vendor-agnostic ‘intake for telehealth’ module which allows integration of your telehealth application with CheckinAsyst
* Insurance eligibility verification and convenient options to improve the collection of patient payments
* Check-in support for kiosks, hand-held tablets, or patients’ own devices
* On-demand forms that enable you to send additional documents to the patient that are not part of the standard intake
* A robust communication platform with appointment and payment reminders, secure chat, and broadcast messaging
* Compliant with HIPAA, SOC 2 Type 2, PA-DSS, PCI and provides P2P Encryption
This story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article. (ANI/BusinessWire India)

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Mature love story “ITTAR” helmed by National Award Winning director Veena Bakshi, goes on Floor April 2021

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Mumbai (Maharashtra) [India], March 2 (ANI/NewsVoir): Fortunate are those, whom life affords another chance at happiness. A middle-aged couple finds strange comfort in each other, but love at this age is not easy. You can battle the world, but how will you battle the conflict within.
Presenting ‘ITTAR’, produced by Tanuj Bhramar and Karan Singh of Triforce Cinema and Entertainment Pvt. Ltd., a new age production house with a track record, that includes an award-winning film ‘Barah X Barah’ which is currently winning over audiences at film festivals in India & Internationally.
‘ITTAR’ is a mature love story, Written and Directed by the National Award-winning director of ‘The Coffin Maker’, Veena Bakshi. The movie brings together a powerhouse of talent on the big screen with the return of effervescent Deepak Tijori as the male lead, ably paired with the enormously talented National Award-Winning actor Rituparna Sengupta (Dahan,1997)
‘ITTAR’ will be shot by National Award Winning Cinematographer Mahesh Aney, (Swades, 2005) while the Sound Design will be done by three-time National Award Winner Bishwadeep Chatterjee (Madras Cafe, Bajirao Mastani, URI: The Surgical Strike, 2013/2015/2018). Sync Sound for ‘ITTAR’ will be helmed by Nihar Ranjan Samal who bagged the national award for (Madras Cafe, 2013) and the film will be edited by Irene Dhar Malik, who won her National Award for Editing for Celluloid Man in 2012.
6 National Award winners, 1 film… ‘ITTAR’. The movie goes on the floor in April 2021.
This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)

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Professor Michael Crow talks about Arizona State University embracing online learning and how Indian Universities can benefit from the experience

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New Delhi [India], March 2 (ANI/BusinessWire India): Professor Michael Crow, President, Arizona State University (ASU), was the keynote speaker at FICCI Higher Education Summit 2021.
During the interactive session on ‘Online Higher Education: Changing Imperatives’, on day two of the summit, Professor Crow spoke about similarities between India and the United States, and highlighted how Indian universities have the potential to become inclusive institutions like ASU.
Professor Crow is known as the pioneer of online education. Much before the pandemic forced schools and universities to move online, Professor Crow had created a tech-enhanced learning environment at ASU. His decision to begin offering classes online came from the realization that many students with potential were not able to get the opportunity to pursue higher education. He wanted to include a more diverse group of students cutting across culture, socioeconomic status, and nationality. Online education presented a new path to achieve that goal.
‘Both India and the United States have large and diverse groups of students who want to attend college but are unable to for different reasons. We tried scaling the existing traditional systems, but that will not work if we want to include more students. India, the world’s largest democracy, has unbelievably significant potential and a pool of gifted people across areas. I see a huge opportunity for partnerships and working together to reach out and include more students through online platforms,’ observed Professor Crow while talking about possible collaborations with Indian universities.
The FICCI Higher Education Summit 2021 focused on resilience, innovation, sustainability, and enterprise. The conferences organized by FICCI this year concentrated on insights on policy roadmap and current issues in higher education around the world. The objective: highlight online and distant learning, since the pandemic has caused almost every educational institute to move to the internet. Professor Crow has extensive experience in creating an adaptive online learning environment, and he was invited to speak more about this shift to online education for higher classes.
‘We measure our success not by whom we exclude, but by whom we include and how they succeed. The success of the university is measured by the success of the students. We (are approaching) 150,000 degree-seeking students now, and they completely represent the socioeconomic diversity of our society.
We believe that a part of our existence is to take fundamental responsibility for the communities we serve, their economic development, social development, health, and well-being. For instance, we invented a high-speed robot-driven, saliva-based PCR test for COVID. We deployed that and used that within the university community, and now it has become one of the main tools in our state. We’ve tested more than 700,000 people,’ said Professor Crow about universities taking on more responsibilities.
Professor Crow enlightened the audience, including students and faculty, on how online higher education is becoming the need of the hour. He emphasized the transformations educational systems needed to enhance the virtual learning experience of students. He explained the creative outlook that online education brought to curricula, allowing institutes to reach out to more students worldwide.
Speaking about what is in store next through online education, Professor Crow shared, ‘By January 2022, we plan to introduce fully immersed learning through augmented reality. We’re investing millions of dollars in creating a fantasy world that will educate students through unbelievable experiences with immersive learning. Also, we know that students need online student organizations and events. So, it’s not just classes – it’s also socializing, connecting, linking, and bringing students together. I feel that these technologies have freed us. We are now free to operate and innovate at a scale that none of us even imagined.’
Professor Crow concluded the session by addressing questions from members of the audience. He helped them gain perspective on the changes that online studies will bring in the future. He spoke about training faculty to understand and effectively use online platforms to educate and include more students.
Dr Michael Crow became the 16th president of ASU in 2002 and has since revolutionized ASU’s approach to learning. He is an educator with a Ph.D. in Public Administration (Science and Technology Policy) and a B.A. in Political Science and Environmental Studies. He is a knowledge enterprise architect and is well-versed in emerging technologies. He has authored several books and articles on the redesigning and evolution of higher education in America.
Under his guidance, ASU has become a top university of choice for international students, with highly ranked business and engineering degree programs. They are currently #1 in the United States for having a global impact with entrepreneurship experiences available for students of all majors who want to create innovations that improve the world.
‘Even though ASU campus will be open for in-person learning, we are also providing online class options and personalized support to students awaiting travel to the United States due to visa restrictions during COVID-19. We also have ASU Accelerate for students to start from home and reduce time and cost to get their U.S. Bachelor’s degree,’ said Matt Lopez, associate vice president of enrollment services and executive director of admissions services, while discussing the options ASU is providing students who are unable to come to the campus.
Lopez further added, ‘We have ASU Prep Digital where we partner with K-12 schools to offer rigorous global curriculum and one-on-one instruction in a virtual environment.’
ASU Prep Digital can help prepare India’s teachers to excel and become leaders in creating a next-generation learning environment for students. Indian universities can seek support from ASU and enhance their technologies to adapt to the new methods and become inclusive educational institutions.
For further information on ASU, visit https://www.asu.edu/
This story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article. (ANI/BusinessWire India)

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