Bengaluru based FloBiz, launches “myBillBook” - a simple to use billing and accounting app for small & medium businesses

 Bengaluru, 20^th April 2021 : Bengaluru based FloBiz, India's fastest growing SMB technology company launches “myBillBook” - a simple to use billing and accounting app for small & medium businesses. It is available on both mobile and desktop. myBillBook provides an easy-to-use and secure experience to business owners with a seamless sign-up process – enabling digitisation of their business operations in a matter of minutes. 

 

myBillBook offers a complete billing and accounting solution on a mobile phone enabling businesses to digitise their entire business operations. It is currently available in English, Hindi, Gujarati, Tamil and will soon be released in Kannada.  

 

myBillBook helps both GST and non-GST businesses in creating bills, recording purchases & expenses, maintaining stock and managing payables/ receivables directly from their mobile phones or computers. This highest-rated business app also generates important business reports like profit & loss statements, sales summary, party ledger reports, GSTR reports, etc. that help business owners take effective decisions on the go. myBillBook also supports real-time data transfer between mobile & desktop with an advanced security system. The app offers multi-user functionality to easily give usage permission to business partners, accountants and organisation staff. 

 

myBillBook has helped over 3.5 lakh businesses in the state to go digital in the past six months. The product has been meticulously designed from a business owner’s perspective. It is so simple to use that business owners do not need any prior accounting knowledge to begin using. Keeping user convenience in mind, the product is directly integrated with WhatsApp, making it easy for business owners to share invoices & purchase orders, send payment reminders with payment links to their buyers or suppliers.  

 

Commenting on the launch of myBillBook, Mr Rahul Raj, Founder & CEO – FloBiz, said, “SMBs form the backbone of our growing economy. After the Covid-19 pandemic, it is clearer than ever that we must focus on enhancing domestic production and exports - the only way to do that is through the help of technology. At FloBiz, we built myBillBook with a single goal - to accelerate the growth of SMBs in the country through digitisation. We firmly believe that it’s the only way to achieve the mission of creating an Aatmnirbhar Bharat which was set by our honourable PM.” 

 

 

 

About FloBiz: 

FloBiz is India’s first neo business platform that aims to accelerate the growth of small & medium enterprises through digitisation. The company recently raised USD 10 million in a series-A round from Elevation Capital and has an existing investment backing from Greenoaks Capital and Beenext. In the seed stage round, the company raised USD 3 million in 2019. Founded in 2019 by IIT & BITS alumni, the startup is chasing the mission of digitising SMBs that will contribute to the building of an Aatmanirbhar Bharat. 

Bharti Airtel announces new “corporate structure to sharpen focus on digital”

 Bengaluru, 20^th April 2021: Bharti Airtel (“Airtel”), India’s premier communication solutions provider, today announced a new corporate structure. This is expected to sharpen the focus of the company in driving the rapidly unfolding digital opportunity in India while enabling it to unlock value.   

The new structure envisages Airtel Digital Limited folding into the listed entity, Bharti Airtel. This will now house all of the digital assets spanning Wynk Music, Airtel X stream, Airtel Thanks, Mitra Payments platform used by a million retailers, Airtel Ads, Airtel IQ, Airtel Secure, Airtel Cloud and all future digital products and services. 

The digital ambition of Bharti Airtel Limited is closely intertwined with the spine that connectivity provides across the country. It is therefore intended to house all the telecom businesses in a newly created entity, Airtel Limited – a wholly owned subsidiary of Bharti Airtel Limited. Bharti Telemedia, the 100% arm operating DTH services will sit alongside Airtel Limited for now. It is intended to eventually fold the DTH business into Airtel Limited to move towards the NDCP vision of converged services to customers. The company has moved the government to seek clarity on licensing policy given that carriage i.e telecom and DTH is currently being regulated and managed under two separate ministries of Communications and I&B respectively. 

Airtel Payments Bank will remain a separate entity under Bharti Airtel and work closely with the growing customer base to play a pivotal role in realising the digital opportunity that payments and financial services provides.  

All of the company’s infrastructure businesses such as Nxtra and Indus Towers will continue to remain in separate entities as they are currently. So will International subsidiaries and affiliates. 

The Board in its meeting held today approved the scheme enabling the company to file for all  statutory approvals to give effect to the proposed rearrangement.  

Airtel’s new corporate structure  

 

 

Sunil Bharti Mittal, Chairman, Bharti Airtel said: “The new structure sets the exciting future course for Bharti Airtel and provides focus on the four distinct businesses – Digital, India, International and Infrastructure, each, in a razor sharp way. We believe this will provide agility, expertise and operational rigour to serve our customers brilliantly while providing flexibility to unlock value for our shareholders. This structure will serve us well over the coming years and is a win-win for all stakeholders.” 

About Bharti Airtel 

 

Headquartered in India, Airtel is a global communications solutions provider with over 458 mn customers in 18 countries across South Asia and Africa. The company ranks amongst the top three mobile operators globally and its networks cover over two billion people. Airtel is India’s largest integrated communications solutions provider and the second largest mobile operator in Africa. Airtel’s retail portfolio includes high speed 4G/4.5G mobile broadband, Airtel Xstream Fiber that promises speeds up to 1 Gbps with convergence across linear and on-demand entertainment, streaming services spanning music and video, digital payments and financial services. For enterprise customers, Airtel offers a gamut of solutions that includes secure connectivity, cloud and data centre services, cyber security, IoT, Ad Tech and cloud based communication. For more details visit www.airtel.com    

SBI General Insurance launches “24X7 Healthline for its health insurance” customers

 Bengaluru, 19^th April 2021 : SBI General Insurance, one of the leading general insurance companies in India, has announced the launch of its ‘24X7 Healthline’, a helpline for its health insurance customers. ‘Healthline’ has dedicated tollfree number and mobile number that will be attended by customer service team 24x7 to address the queries of SBIG customers related to health policies.  

  

SBI General is helping customers with queries related to any of their health policies ranging from policy covers to the claims process with this health line.  

  

Mr. P C Kandpal, MD and CEO, SBI General Insurance, said, “At SBI General, customers are always at the center of everything we do with a ‘Customer First’ approach. Considering the situation with regard to the pandemic, we felt our customers would need servicing and support for their health insurance. Hence, through this ‘Healthline’ we intend to strengthen our commitment to our customers by being there to answer all their health policy related queries at any hour.” 

About SBI General Insurance Company Limited:  

SBI General is one of the fastest growing private general insurance companies, with the strong parentage of SBI, we, at SBI General Insurance, are committed to carry forward the legacy of trust and security; and to become the first choice for every Indian’s general insurance needs.  

Ever since our establishment in 2009, from 17 branches in 2011, we have expanded our presence to around 123 branches pan-India.  

We follow a robust multi-distribution model encompassing Bancassurance, Agency, Broking and Retail Direct Channels. Today, our distribution family includes over 22,900 IRDAI certified advisors including the State Bank Group employees, and over 12,000 Agents to make insurance easily available even in the remote areas of the country. 

On the distribution network front, we have strong distribution partners adding up our reach to every nook and corner of India, with SBI’s over 22000 branch network, other financial and digital partners. Our current geographical exposure covers 125+ cities pan-India with a presence of another 350+ locations through satellite resources.  

We currently serve three key customer segments viz. - Retail Segment (catering to Individual & Families), Corporate Segment (catering mid to large size companies) and SME Segment; and are future-ready to serve the growing needs of Indians with new age-processes and services at affordable prices.  

SBI General Insurance closed the financial year 2019-20 with a Gross Written Premium of Rs. 6840 cr at a YoY growth of 45%.  

Paytm Money introduces Mirae Asset's NYSE FANG+ ETF & MF to make investing in American Stocks easier, cheaper & more exciting

 Bengaluru, 19th April 2021 : India’s homegrown digital financial services platform Paytm, today announced that its wholly-owned subsidiary 'Paytm Money' is empowering the country's retail investors with access to top tech stocks from the US in association with Mirae Asset’s NYSE FANG+ ETF. The country is already one of the largest markets for companies like Facebook, Amazon, Netflix, and Google (Alphabet) - FANG, and its importance will only rise over the next decade. 

 

NYSE FANG+ Index is a focused index and includes the original FANG companies + 6 tech leaders in the global Markets - Apple, Alibaba, Baidu, Nvidia, Tesla, and Twitter. Most of these are household names for millions of Indians, and the NFO is expected to be a success, driven primarily by the impressive 102% return delivered by NYSE FANG+ Index over the last year. The underlying tech stocks like Tesla delivered 390% return, and Google (Alphabet) delivered 80% return during this period.

 

Along with the NYSE FANG+ ETF, Mirae Asset is also launching a mutual fund scheme (NYSE FANG+ ETF Fund of Fund) which will predominantly invest in NYSE FANG+ ETF. From an investor’s perspective, there are certain things to be considered before deciding on the right instrument. The table below clearly lays out these considerations:

 

	ETF	Direct MF	Regular MF
Expense Ratio	0.33%	0.50%	1.00%
Fund Type	Passive | Open-ended	Passive | Open-ended	Passive | Open-ended
Flexibility	Higher Flexibility Traded in the market throughout the day at real time prices.	Lower Flexibility Can only be bought or sold with the AMC. Transaction happens only once a day, and investors have limited control over the final price	Lowest Flexibility Can only be bought or sold with the AMC, via a distributor. Transaction happens only once a day, and investors have limited control over the final price
Minimum Investment (NFO)	Rs. 5,000	Rs. 5,000	Rs. 5,000
Minimum Investment (Post NFO)	1 unit (Less than Rs. 100)	Lumpsum: Rs. 5,000 SIP: Rs. 5,000	Lumpsum: Rs. 5,000 SIP: Rs. 5,000
Investment Mode	Stock Trading Account	AMC / Direct MF platforms	MF Distributor

 

Illustrative comparison of investing across all three modes with a 3-year holding period is shown below: 

 

	ETF		Direct MF	Regular MF
Investment Amount	100,000		100,000	100,000
CAGR	20%		20%	20%
Expense Ratio	0.33%		0.50%	1.00%
Total Expense	1,422		2,151	4,284
Investment Value @ Year 3	171,378		170,649	168,516
Return (Before Tax)	71,378		70,649	68,516
LTCG Tax @20% (Assuming – Indexation @ 4% Inflation)	11,778		11,633	11,206
Net Return (After tax)	59,600		59,016	57,310

 

 

 

NYSE FANG+ ETF is the lowest cost alternative, followed by a direct mutual fund. ETF also offers the most amount of flexibility vs other alternatives, and for the majority of investors, NYSE FANG+ ETF should be the preferred route. For a small proportion of users who intend to invest a small sum and are unable to open a Demat account, the Direct MF route might be suitable. Regular MF turns out to be the most expensive because of the distributor commissions involved. 

  

Paytm Money will enable its massive user base with the opportunity to bolster its portfolio and have international exposure. The company's stockbroking initiative is helping bring in more active direct equity investors in the highly under-penetrated segment. It expects this to be one of the biggest drivers of wealth creation over the next decade. It has opened over 1.6 lakh Demat accounts, with over 50 percent of the users being from smaller cities & towns. Paytm Money Stocks aims to more than double the number of accounts to over 3.5 lakh by year-end. It hopes to provide all this to the users in the most cost-effective, reliable & secure manner to both new and experienced investors.  

  

Varun Sridhar, CEO of Paytm Money said, “NYSE FANG+ index represents some of the most dominant tech players globally, and has delivered more than 40% CAGR over the last 3 years. The retail Indian investor today is increasingly looking to diversify beyond traditional funds and asset classes, and Mirae Asset’s NYSE FANG+ ETF is a very attractive proposition at an expense ratio of only 0.33%. We are expecting a lot of demand for this offering. ETF as a category has been very popular in the US markets for quite some time, and we are now seeing ETFs gain acceptance in India as well, with 27% of Paytm Money’s equity users already owning at least one ETF in their portfolio. ETFs are a great way to build long-term wealth, and we believe it will be one of the most important investment instruments for the next decade of investing in Indian capital markets”. 

Capri Global Capital Ltd. launches “Affordable housing loans” – PRIME

 Bengaluru, 13^th April 2021: To cater to the rising demand for affordable housing in urban and rural regions, Capri Global Capital Ltd. (CGCL), the fastest-growing NBFC focused on MSME and housing finance launches Affordable Housing Loans– Prime offering the interest rate starting from 7.99% onwards both for urban and rural customers. All the salaried employees employed with government, public and private can avail for this loan. The women applicant to receive an additional 0.10% discount in rate of interest. 

 

In India, the affordable housing segment is still highly underpenetrated as people still struggle to source loans due to stringent credit policies. Housing is one of the key components of a nation’s well-being. The right guidance and easy access of funds can make government’s vision of ‘Affordable Housing for All’ achievable. Customers are increasingly looking for home loan providers that can allow more flexible, customized, and affordable payment mechanism suiting their needs. 

 

The scheme is targeted towards the salaried employees working in government, public and private firms with minimum one year of experience and with a good credit score. The loan amount can be utilised for the Fresh repurchase of dwelling unit, construction on already hold land, renovation, upgradation of dwelling unit 

 

Explaining the necessity of the various housing schemes in India, Mr. Rajesh Sharma, Managing Director, Capri Global Capital Ltd said, “The need and demand for better housing have always been the major agenda even before the pandemic. We still see people leaving with poor-quality infrastructure, overcrowded places, and many without a home. We believe, if sufficiently incentivised, the affordable housing sector could benefit substantially from the sheer size of its target group. The government and regulatory bodies like RBI, and National Housing Bank (NHB) have launched numerous initiatives to bridge the demand-supply gap & create an ecosystem where all the participants benefit socially and economically.  

 

At CGCL, we constantly research our customers’ demands, identify their needs, and offer customised services to meet their requirements. Our diverse range of products and specialised schemes for housing targets to improve access to shelter especially those who lack affordable, stable, and decent-quality housing. We believe that we will continue to see a strong growth momentum in the affordable housing sector over the next few years” 

 

About Capri Global Capital Limited  

 

Capri Global Capital Limited (CGCL) is a Non-Banking Financial Company (NBFC) listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). The Company operates in two major verticals – MSME Loans and Housing Finance – through its strong network of 80 offices spread across 8 states and backed by a strong and committed workforce of 1,477 employees in the country. CGCL addresses the capital needs of MSMEs through its SME & Retail Lending vertical by offering multiple products: MSME Business Loans, Working Capital Term Loans, Term Loans Against Property Rentals, and Term Loans for Purchase of Property. Our tech-enabled processes and smart analytics ensure that we offer products tailored to meet the requirements of our customers. Capri Global Housing Finance Limited, a subsidiary of CGCL, operates in the affordable housing finance space is providing home loans to Lower and Middle-Income families and is a key contributor to the PM’s vision of “Housing for All” by 2022. 

 

For further information, please visit:  

www.capriglobal.in   |   www.caprihomeloans.com 

Renault India sets new “benchmark in rural outreach” Becomes the first four-wheeler automotive brand to partner with CSC Grameen eStore

 Bengaluru, 13^th April 2021 : In order to strengthen its rural presence and move closer to the customers in the remote areas, Renault India today announced its partnership with CSC Grameen eStore, a subsidiary of CSC eGovernance Services India Limited (CSC-SPV). As a part of the partnership, Renault India’s leading product range will be listed on the CSC Grameen eStore and made available to the potential customers in hinterlands through aspirational Village Level Entrepreneurs (VLEs). 

  

CSC Grameen eStore is an eCommerce initiative by CSC (under the Ministry of Electronics and Information Technology) to promote digital ordering and delivery in rural areas, making digital inclusion of rural India a reality. To facilitate smooth rural e-commerce, Renault will build a mechanism that would facilitate the supply of its products to Village Level Entrepreneurs (VLEs) who will help list the products on select CSC Grameen eStores. The VLEs will further promote, generate enquiries, and facilitate sale to end customers in rural areas through the support of respective Renault Authorised dealerships. 

  

Venkatram Mamillapalle, Country CEO & Managing Director, Renault India Operations said, “We see tremendous potential in the rural markets, and are aggressively pursuing with an innovative and comprehensive strategy to amplify and grow our presence in Rural India. The digital transformation has brought about a revolutionary change in dissipating physical boundaries and hinderances, helping bring different rural and semi-urban markets onto a common platform. We curated ‘sons of the soil’ strategy, wherein we recruited 500 educated youngsters from rural and small towns, trained them and put them as rural sales engineers to market Renault cars. This is yet another initiative to enhance our reach within the country and create a strong network in the rural market. 

 

“We are extremely confident that this partnership will pave the way for digital and economic empowerment and will further boost our efforts to deliver consumers’ favourite Renault car at their doorstep,” he added. 

 

Dr. Dinesh Tyagi – CEO, CSC SPV said, “The idea for Grameen e-Store exemplifies Prime Minister’s call for Atmanirbhar Bharat by creating opportunities for rural youth and being vocal for local. Through this initiative, VLEs are playing a critical role in connecting producers and companies with the rural consumers right at their doorsteps. Partnering with Renault will allow the Grameen eStore to have first four wheeler brand, while providing customers in rural areas easy access to its great products and services.” 

 

“The tie-up with Renault will certainly prove a milestone for CSC in facilitating world class product and services in the rural India. Our VLEs will avail themselves of this two-way opportunity first, in learning the basics of Renault cars and then in enhancing their means and resources,” he added. 

 

As a part of its Rural Amplification Strategy, Renault initiated a special project last year - VISTAAR - to amplify and grow presence in rural India. In order to move closer to the customers in the remote areas and showcase its new compact sub four meter SUV KIGER, Renault India recently launched a new initiative ‘Rural Float’, a fully functional mobile showroom, that aims to provide complete Renault experience to the existing and potential customers in more than 360 towns across the country, especially in the rural markets across India.  

 

ABOUT RENAULT  

 

Renault India Pvt. Ltd. is a fully owned subsidiary of Renault S.A.S. France. Renault India cars are manufactured in the manufacturing facility located in Oragadam, Chennai, with a capacity of 480,000 units per annum. Renault India also has a widespread presence of more than 500 sales and 475+ service touchpoints, which include 200+ Workshop On Wheels locations across the country, with benchmark sales and service quality. 

 

Renault India’s product line up and services have seen strong recognition among customers and industry experts alike, winning more than 60 titles, making Renault India one of the most awarded automotive brands in a single year in India.  

Future Generali India Insurance promotes mental wellbeing through sports personalities

 Bengaluru, 12^th April 2021 : With a commitment to make mental health conversations mainstream, Future Generali India Insurance Company Limited (FGII) launched the talk show ‘Mind Matters’ on YouTube and Facebook. Through the talk show, the company has created a platform for the top sports personalities to come forward and share their stories of the mental health issues that they have experienced during their career. 

 

Hosted by the renowned television presenter and actor, Samir Kochhar, this series will see him converse with leading sports personalities like Sania Mirza, Abhinav Bindra, Sunil Chhetri, Robin Uthappa, and Cheteshwar Pujara. The conversations will be focused on their struggles related to their mental health and their journey to self-awareness while re-enforcing that mental issues can strike anyone and that it's ok to not be ok. The fundamental aim of this talk show is to create awareness about mental health, eliminate prevailing taboos, and lead people towards healthy conversations on mental wellbeing.  

 

Anup Rau, MD & CEO, Future Generali India Insurance said, “We want to propel a movement to get all Indians to take their mental health seriously. With the pandemic increasing levels of anxiety and stress, people are turning to experts, and I am afraid, quacks too to seek advice. We have curated a series, inviting sports celebrities and encouraging them to share their highs and lows of their career. Our talk show - ‘Mind Matters’ brings to life a never-seen-before side of the sports personas - their struggles with mental health and how they overcame that. We hope that watching these sports stars speak about mental wellbeing will inspire the rest of us to open up, discuss their challenges proactively and seek timely help.”  

 

The first episode of the weekly series - ‘Mind Matters’ features Sunil Chhetri. 

 

The viewers can watch the talk shows on the following links –  

 

YouTube - https://www.youtube.com/watch?v=d72NrBeDa48  

 

About Future Generali India Insurance Company Limited 

 

Future Generali India Insurance Company Limited is a joint venture between Future Group – the game changers in Retail Trade in India and Generali – a 190 years old global insurance group featuring among the world’s 60 largest companies*. The Company was incorporated in October 2006 and received the IRDAI license in September 2007 with the objective of providing retail, commercial, personal and rural insurance solutions to individuals and corporates to help them manage and mitigate risks. 

 

Future Generali India has been aptly benefitting from the global Insurance expertise in diverse classes of products of Generali Group and the Future Group. Having firmly established its credentials in this segment and effectively leveraging on the skill set of both its JV partners, Future Generali India has evolved to become a Total Insurance Solutions Company. 

 

*As per Fortune Global 500 Ranking (2017) 

*Future Generali India Insurance is certified ‘Great Place to Work’ (December 2020-November 2021) 

 

About Generali Group 

Generali is an independent, Italian insurance Group, with a strong international presence. Established in 1831, it is one of the largest global insurance providers present in over 60 countries with total premium income exceeding €68 billion in 2017. With nearly 71,000 employees in the world and 57 million customers, the Group has a leading position in Western Europe and an increasingly significant presence in Central and Eastern Europe as well as in Asia. 

Edukemy Introduces IAS Interview Mentorship Program for UPSC Aspirants

 Bengaluru, 12^th April 2021 : Edukemy, India’s first test prep EdTech company in the non-STEM segment, today introduced its personalized IAS Interview Mentorship Program for UPSC aspirants.  The program involves exclusive and personalized one-on-one training sessions with young toppers, experienced and senior bureaucrats along with sessions for psychological assessment.  

The program is divided into two phases to help students attain an edge above the rest. In the first phase, pre-Detailed Application Form (DAF) filling support will be provided. Post-DAF discussion will also be conducted where candidates interact with toppers for tips on how to improve their performance. In the second phase, candidates will have a one-on-one session with psychologists and senior bureaucrats to enhance their language, develop originality, consistency and fluency and understand overall stress management. The training program is available online and students can select their slots as per convenience.  

Sharing his views on the exclusive program, Mr Chandrahas Panigrahi, CEO and Co-Founder, Edukemy, said, “Our new program is designed for overall development in which students will be mentored by a highly experienced panel of bureaucrats, allowing an opportunity to the students to excel.” 

About Edukemy 

Edukemy is India’s first EdTech company in the non-stem segment that has developed an evaluation model based on AI and cutting-edge technology. Our priority is to scale the learning experience for every individual by offering an insightful and enriching environment for students with a focus on live classes, handwritten notes, and an interactive platform. With more than 50 years of cumulative experience at teaching and mentoring students, Edukemy strives each day, with every single student, to make a difference. We intend to democratize education by delivering quality content, valuable mentorship we believe in disrupting the normal and bring in innovation in methods of teaching. 

For additional details please visit - https://edukemy.com/landing