Ind-Ra lowers expected Covid-19 stress on banks - The Daily Guardian
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Ind-Ra lowers expected Covid-19 stress on banks

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Mumbai (Maharashtra) [India], February 23 (ANI): India Ratings and Research (Ind-Ra) has revised its outlook on the overall banking sector to stable for FY22 from negative.
This is because substantial systemic measures have reduced the system-wide Covid-19 linked stress below the expected levels, it said adding banks have also strengthened their financials by raising capital and building provision buffers.
Ind-Ra upgraded its FY21 credit growth estimates to 6.9 per cent from 1.8 per cent and 8.9 per cent in FY22 with improvement in economic environment in 2H FY21 and the government’s focus on higher spending, especially on infrastructure.
The agency estimates gross non-performing assets (GNPAs) at 8.8 per cent in FY21 and stressed assets at 10.9 per cent. Provisioning cost has fallen from its earlier estimate of 2.3 per cent for FY21 to 2.1 per cent (including Covid-19 linked provisions) and is estimated at 1.5 per cent for FY22.
Ind-Ra said the regulatory changes led to an improvement in public sector banks’ (PSBs’) ability to raise AT I capital, a high provision cover on legacy NPAs, overall systemic support resulting in lower-than-expected Covid-19 stress, and minimal surprises arising out of amalgamation of PSBs.
Also, the fact that the government has earmarked Rs 34,500 crore for infusion in PSBs in 4Q FY21-FY22 should suffice for their near-term growth needs.
Private banks continue to gain market share both in assets and liabilities while competing intensely with PSBs. Most have strengthened their capital buffers and proactively managed their portfolio.
As growth revives, said Ind-Ra, large private banks will benefit from credit migration due to their superior product and service proposition.
Ind-Ra estimated that about 1.24 per cent of the total bank book is under incremental proforma NPA and about 1.75 per cent of the total book can be restructured by end-FY21. (ANI)

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Rela Hospital launching EBUS to diagnose lung diseases

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Chennai (Tamil Nadu) [India], February 25 (ANI/BusinessWire India): Rela Hospital, a Multi Speciality Quaternary Care Hospital at Chromepet, Chennai, has launched EBUS (Endobronchial Ultrasound) Bronchoscopy service. Rela Hospital is one of the very few in the city to have this technology.
Endobronchial ultrasound (EBUS) has emerged as an alternative minimally invasive method and has made redundant the surgical procedure of thoracoscopy for diagnosis or mediastinal staging of lung cancer. The main indications of EBUS include primary diagnosis, staging and restaging of lung cancer, Lymphoma, the staging of extrathoracic malignancies and the diagnosis of granulomatous/infective disease.
Professor Mohamed Rela Chairman – Rela Hospital, said “These are newer interventional pulmonology procedures. We take pride in being able to offer our patients the latest technology and innovation. The EBUS procedure now allows us to provide patients with a quicker way for diagnosing cancers and other diseases of the airway and lungs.”
It all started with a 57 yr. old Male, from Chennai, a case of Post Hepatitis C Cirrhosis of the liver and possible Hepato-cellular Carcinoma; who has been advised for a liver transplant. He has been found to have a few indefinite small nodules and atelectatic bands in lung CT scan with some mediastinal nodes. The dilemma for the clinical team was, it could be lung metastasis, in that case, the life-changing surgery may not be possible.
Dr Roy, Clinical Lead, Pulmonology and Interventional Pulmonology, decided to take a histo-pathological sample by obtaining a biopsy of the left hilar lymph node. “This helped in identifying the issue at hand and the EBUS (Endobronchial Ultrasound) Bronchoscope procedure only could able to achieve diagnosis with minimal invasion. EBUS has brought in a sea change towards the diagnostic/ staging process for suspect Lung Cancer.
The procedure in Rela Hospital is done under conscious sedation without making the patient completely anesthetised and thus avoiding the possible side effects of full anaesthesia and also avoiding a higher cost for anaesthesia being practised in fine other hospitals. Immediate Rapid On-Site Evaluation (ROSE) at the endoscopy room itself by our Pathologist confirmed that there are no malignant cells seen in the lymphatic tissue background of the biopsy material bring great joy and relief to the patient’s relatives.”
Hospital also mentioned that this is a daycare procedure and the patient is discharged the same day. Rela Hospital is currently doing about 3-4 such procedure every week.
The above patient now is back to his usual routine and being prepared for his proposed liver transplant. Complete evaluation at the Pathology dept also confirmed the absence of malignancy in the patient’s mediastinal lymph node biopsy material.
Similarly, an international patient, who had undergone a liver transplant three years ago has returned with a lung mass in the left lung. A CT-guided transthoracic fine-needle aspiration (FNA) biopsy of the lung turned out to be non-diagnostic.
That patient also underwent the EBUS bronchoscopy procedure and FNA biopsy via EBUS returned as malignancy by ROSE method immediately during the procedure and confirmed later on also as Lung Cancer on detailed analysis. Here also, EBUS bronchoscopy has brought an edge in diagnosis and staging the Lung Cancer which the standard CT guided biopsy failed to achieve.
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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Xoxoday Empuls integrates with Microsoft Teams

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Bangalore (Karnataka) [India], February 25 (ANI/PRNewswire): Xoxoday recently announced an integration with Microsoft Teams through Empuls, its employee engagement social intranet platform.
With this integration, the recognition, engagement and rewarding functionalities of Empuls will now be available from within Microsoft Teams itself. Teams users can now use Empuls to build company goals, share organizational updates, recognize individuals and reward high performers.
“Microsoft Teams users can drive employee engagement initiatives through this Empuls integration. Companies can improve their employee experience through rewards, recognition, surveys and one on one feedback through this integration. This is a good win-win investment for both Empuls and Microsoft users,” said Manoj Agarwal, Co-founder and Chief Product Officer, Xoxoday said, commenting on this integration.
The all-in-one employee engagement platform Empuls – integrated with Teams – helps leaders make data-driven, informed decisions on employee engagement activities, identify areas of improvement and build the right kind of cultural engagement within the organization.
”With this integration, Teams customers are now equipped to make further progress on their goals of increased collaboration and productivity,” said Daniel Canning, director, Microsoft Teams at Microsoft Corp. “Empuls empowers teams by helping them build a shared culture of gratitude & sustain it, all within the same Teams interface.
Empuls also excels in driving healthy competition amongst employees through varied forms of recognition, ranging from virtual leaderboards, badges to points, reward gamification, certificates etc. Empuls surveys – which can now be accessed from within the Teams app – helps the management to improve the firm’s eNPS by fine tuning their actions according to the employee sentiments, using insights from these surveys.
Empuls by Xoxoday
Empuls by Xoxoday is an employee engagement and experience solution. Empuls is built on the key pillars of engagement – Connect, Align, Empower and Motivate. This All-In-One engagement product helps improve employee productivity, performance and retention. It also helps connect employees through interest groups and conversations, listen to employees and enable action on employee feedback and reward positive behavior and good work.
This story is provided by PRNewswire. ANI will not be responsible in any way for the content of this article. (ANI/PRNewswire)

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Ferns N Petals brings the Women’s Day corporate gifting collection to celebrate the strength and spirit of women

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New Delhi [India], February 25 (ANI/PRNewswire): International Women’s Day is around the corner and it is time to pay respect for the determined efforts and contributions rendered by women at all spheres of workplace and business.
Ferns N Petals, a name synonymous to gifting for any occasion, has curated a special range of gifts under the theme Fives Senses to woo the hearts of female employees, business partners or clients. The exquisite range of gifts is sourced and sorted keeping in mind the impeccable and vibrant personality of women and spoil them for choices.
The concept of a ‘Five Senses gift’ is to buy or create gifts that appeal to the basic senses of the human body: sound, touch, taste, smell and sight. Rather than spending hours trying to find one perfect gift to celebrate the existence of women in corporate culture, companies can choose a combination of gifts to make them feel empowered in a unique way. With small gifts or larger splurge-worthy presents, one can stimulate each of the recipient’s five senses for a truly exceptional gift-giving experience.
Here are some of the stunning corporate gift hampers for women’s day suitable to acknowledge the accomplishments of the female workforce:
Work from home essentials
This year, one can gift this perfect practical gift to the remote employees to enjoy the pleasure of working from home. It is an assortment of branded products which are the must have at work.
Travel Kit
It was a challenging year for globetrotters or business travelers but now it’s that time of the year again to quench one’s wanderlust and fly for business or leisure trips. The amazing travel kit is an ideal travel present for any white collar female employee or associate. It includes items & essentials like pill organizer, sipper, portable speaker etc. packed in premium FNP branded gift boxes.
Bottoms Up Over Ludo
To take a break from the monotonous work life, it is a quirky and coolest gift hamper to give away to a young talent at the workplace. Priced at just Rs 2,500, this hamper is worth making the weekends happening.
Tea-Riffic
The thoughtfully and elegantly sorted gift hamper of aromatic teas, delicious cookies, glass tea pot, cup and personalized coaster is the most simple yet classy hamper to impress any woman. It is priced at Rs 1,800.
Rejuvenating Spa Kits
Nothing makes a woman happier that the right beauty hamper which brims with all the bathing and spa essentials to pamper the skin. The gift box comes with exciting products required for skin rejuvenation like bathing salts, facial masks, shea butter and many more items.
The amazing range of hampers by Ferns N Petals are an assortment of branded goodies & items which are handpicked keeping in mind the distinctive choices and are a great option as a Happy Women’s Day Gifts. Depending on the requirement and budget of clients, all the gifts can be further personalised with a name or a motivational message printed on any item.
Corporates can also choose from a host of evergreen and enthralling gifting options like decorative planters, electronic items, utility gifting, personalized items, cosmetic kits, cakes & cookies and various other possible combinations.
With more than 365 plus outlets delivering over 120 plus cities in India and more than 120 countries around the world, Ferns N Petals has a pre-eminent position in the gifting industry, earned through decades serving communities. Apart from a being a household name for gifting, Ferns N Petals is the one stop solution for all employee and client partner gifting across India and has a clientele of 10,00 plus companies from various industries.
This story is provided by PRNewswire. ANI will not be responsible in any way for the content of this article. (ANI/PRNewswire)

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APL Apollo unveils India’s first closed steel door and window frames “Apollo Chaukhat”

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New Delhi [India], February 25 (ANI/NewsVoir): APL Apollo Tubes Limited (APL Apollo), one of the leading branded steel tubes manufacturers, has unveiled India’s first closed steel door and window frames “Apollo Chaukhat”, based on trusted and dependable Italian technology. Emerging as a perfect choice for doors and windows, “Apollo Chaukhat” is a class apart in its segment. It is synonymous with strength, durability and world-class quality.
For the consumers who have been traditionally using wooden frames for doors and windows, “Apollo Chaukhat” is loaded with inherent advantages. It is termite-proof, fire-resistant and rigid whereas even the expensive wooden frames remain prone to termites and are inflammable, expansion and contraction happen in wooden frames due to changes in weather.
“Apollo Chaukhat”, made of high-quality steel, is easy to fit, environment friendly and recyclable. The product also shields the house from dust and bugs and can be easily customized according to the consumers’ requirements.
Another reason to choose “Apollo Chaukhat” is its quick installation process which involves effortless ease. While installation of wooden frames is like accomplishing a challenging task with concrete and cement, “Apollo Chaukhat”, on the other hand, can be fitted instantly even post-construction, in just a few simple steps, like any modern Plug & Play.
Announcing the launch of Apollo Chaukhat, Sanjay Gupta, CMD, APL Apollo said, “Apollo Chaukhat is our ground-breaking creation, in sync with our vision of providing quality and innovative products to our customers.
This new product segment is eco-friendly in nature and provides several benefits in terms of value for money and lower maintenance. Hence, we are very upbeat on creating and capturing a strong demand for Apollo Chaukhat in domestic as well as in export markets.”
Apollo Chaukhat product series includes a wide range of Door and Window Frames for discerning customers to choose from. Apollo Chaukhat has a longer lifespan than traditional doors and window frames.
These cost-effective, trendy and elegant door and window frames are made using world-class Direct Forming Technology (DFT) introduced in India by APL Apollo, Apollo Chaukhat door & window, door frame section has been appraised and certified by BMTPC (Building Material and Technology Promotion Council), an autonomous body under the Union Ministry of Housing and Urban Affairs (MoHUA), GOI.
Offered at a competitive price, Apollo Chaukhat Door and Window Frames are available in a wide range of choices.
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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Haptik announces launch of Buzzo: Voice Assistant for eCommerce

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Mumbai (Maharashtra) [India], February 25 (ANI/PRNewswire): Jio Haptik Technologies Limited, a subsidiary of Reliance Jio Platforms, today announced the launch of its new product – Buzzo, an AI-powered voice assistant to improve the digital shopping experience.
With Buzzo, Haptik brings the simplicity of an in-store assisted experience to apps and websites, navigating through the variety of product choices using a voice enabled interface.
In the post pandemic era, e-commerce sales have grown by 7-8 per cent in India (as stated by Forrester Research) and digital is now the default way of shopping for most millennials. However, searching through long product catalogs and finding the most suitable products continues to remain a cumbersome experience. According to Statistica, 61 per cent people feel that search and navigation and the subsequent ease of finding products is one of the most important factors of the online shopping experience.
Buzzo uses Haptik’s cutting edge NLU combined with product meta data such as filters, reviews, pricing, tags, etc. to understand a user’s requirements spoken in colloquial language and provide recommendations similar to an in store sales agent. The AI assistant also knows how to nudge relevant upsells & cross sells within the natural flow of an interaction, add multiple items to cart in a single voice command and overall make the checkout process 3x faster than the traditional menu driven interface.
Buzzo’s first implementation is in JioMart – one of India’s largest e-grocery platforms. Over a million end customers have used the AI assistant already with a 50 per cent increase in conversion rate from browsing to purchase.
“Voice search has shown a lot of promise but has been limited in its ability to really drive transactions,” said Aakrit Vaish, Co-Founder & CEO of Haptik. “The primary reason for this is the lack of domain expertise in the AI models along with a natural UX workflow. With Buzzo, we have taken close to a year to perfect this experience through multiple iterations. The initial results we are seeing with JioMart are extremely promising, and we are excited to take this product to other brands globally.”
Buzzo is now generally available for e-commerce brands across shopping categories, including grocery, electronics, apparel, beauty, furniture and more. Earlier this year, Haptik also launched another voice solution with Conversational IVR, enabling better customer experience and automation within the contact center.
This story is provided by PRNewswire. ANI will not be responsible in any way for the content of this article. (ANI/PRNewswire)

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MSME emerged as growth engine of economy, says RBI Governor

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New Delhi [India], February 25 (ANI): The Ministry of Micro, Small and Medium Enterprises (MSME) has emerged as the growth engine of the economy, the sector is showing signs of revival after the Covid-led degrowth in the early part of the current financial year (2020-21), Reserve Bank of India (RBI) Governor Shaktikanta Das said on Thursday.
“MSME has emerged as the growth engine of the economy with a vast network of about 6.33 crore enterprises contributing 30 per cent of our nominal Gross Domestic Product (GDP) and 48 per cent to exports,” he said while addressing an event on the occasion of 185th Foundation Day Celebration of Bombay Chamber of Commerce and Industry.
The sector has been rendered vulnerable by the pandemic necessitating concerted effected effects to combat the stress and focus on the revival of the sector, he added.
The central bank made crucial interventions to support the economy’s critical sector, he said.
Das called for increasing digital payment and digital penetration across the country.
“As digital capabilities improve and connectivity becomes omnipresent technological innovation and technology-driven revolution are poised to quickly and radically change India’s economy,” he said.
He said digital technology has the potential to raise the productivity of agriculture, manufacturing and businesses as well as improve the delivery of public services like healthcare and education.
“In the financial sector this could lead to higher financial inclusion, lesser information asymmetry and reduced credit risk,” he added. (ANI)

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