Vigor Media Worldwide has bagged the PR mandate from Vakilsearch, a one-stop solution for any business or entrepreneur looking for a lawyer, chartered accountant or company secretary. The contract comes as another acknowledgement of the distinctive PR and communications approach of Vigor Media Worldwide. The role of Vigor Media Worldwide will be to build a strategic communication framework for Vakilsearch and strengthen its unrivalled leadership positioning as one-click access to individuals & businesses for all their legal and professional needs.
Vigor Media Worldwide won the prestigious account after a multi-agency pitch followed by a competitive bidding process. The mandate for Vakilsearch will be handled by the Delhi-NCR office of Vigor Media Worldwide with the support from its proficient team along with its associates spanning across the country for greater visibility and strong positioning of brand ‘Vakilsearch’ among targeted segments.
Vakilsearch is a technology-driven platform organising the professional services industry in India and its services cover all the legal, tax-related and regulatory requirements of businesses, such as incorporation, government registrations & filings, accounting, documentation and annual compliances. Vakilsearch also offers a wide range of services to individuals, such as property agreements and tax filing.
Mr. Hrishikesh Datar, CEO, Vakilsearch said, “Vakilsearch was looking for a competent team to partner with it in establishing a focused communication with a distinct approach to help companies and individuals navigate the legal, tax and regulatory regime in India. We found the required zeal and enthusiasm in Vigor Media Worldwide and we are delighted to bring them on board as our communication partner.”
Commenting on winning the PR mandate of Vakilsearch, Mr. Nikhil Singhal, Founder, Vigor Media Worldwide said, “We are truly honoured and delighted to be the strategic communication partner for Vakilsearch which has expanded its wings and catapulted itself into a hi-tech platform online that delivers the highest quality of financial, accounting and legal services.”
Vakilsearch is a completely self-serve platform online, where customers can seek advice, add their legal requirements to a cart and pay for it online. It takes pride in rapidly building a marketplace that will connect all Indian citizens to lawyers and other professionals in their vicinity, and an app to enable lawyers to manage their practice in a tech-savvy manner.
Vigor Media Worldwide has cross-sectoral expertise spanning across Real Estate, Education, Lifestyle, FMCG, Hospitality, Healthcare, Technology, Security, Consulting and a host of other segments of the economy. Its client portfolio includes top-of-the-line brands in the industry.
CapitaLand’s wholly owned lodging business unit, The Ascott Limited (Ascott), announced that it has secured a contract to manage its first Citadines-branded serviced residence in Gurugram, Haryana. The contract was awarded by Gurugram-headquartered Paras Buildtech, a subsidiary of Paras Group. The 90-unit Citadines Paras Square Gurugram is expected to open in Q2 2020. Ascott currently operates two serviced residences in Chennai and one in Navi Mumbai.
Citadines Paras Square Gurugram is located within Paras Square, a mixed-use development comprising over 100,000 square feet of retail space and the serviced residence tower. Citadines Paras Square Gurugram is strategically located off Golf Course Extension Road in Sector 63A, amidst the IT Special Economic Zone (SEZ) and premium residential projects. Delhi’s Indira Gandhi International Airport is only 40 minutes away, offering easy connectivity to business travellers coming to Gurugram. Citadines Paras Square Gurugram will comprise 90 spacious and modern studio, one-bedroom and two-bedroom units ranging from 45 Sqm to 65 Sqm in size. Residents will enjoy business, entertainment and recreational facilities along with Ascott’s world-renowned service excellence.
Mr. B.V. Bharadwaja, Ascott’s Country Head – India, said: “Gurugram is a significant IT-ITeS cluster and is considered as the business process management (BPM) capital of the world, employing 5% of the global BPM workforce . In 2018, the hospitality industry in Gurugram also witnessed an increase across all three parametres – average daily rate (ADR), occupancy percentage and revenue per available room (REVPAR) , proving that there is an increasing demand for quality accommodation here. With the signing of Citadines Paras Square Gurugram, we will have two of our distinct serviced residence brands within 2 KM of each other, catering to both luxury and upscale segments.”
Mr Aman Nagar, Director, Paras Buildtech, said: “We are proud to be partnering with The Ascott Limited for the management of our second hospitality project. Ascott’s knowledge of the lodging market and its global reputation is consistent with our endeavor to develop quality, upscale projects that cater to global citizens.”
IIFL Home Finance Ltd. (IIFL HFL), India’s leading housing finance company on Wednesday signed a Memorandum of Understanding (MoU) with the State Government of Maharashtra. This MoUfocuses on extending the benefits of Credit Linked Subsidy Schemes (CLSS) under PMAY across state of Maharashtra to home buyers belonging to affordable housing segment.
The MoU was signed in the presence of Sanjay Kumar (Addn. Chief Secretary, Housing Deptt, Govt. of Maharashtra), Hemkumar Gopalakrishnan (Regional Manager, NHB), Monu Ratra(CEO,IIFL HFL), Ajay Jaiswal (IIFL HFL) and Sundeep Bhatia (IIFL HFL).Through this MoU, Housing Department of Government of Maharashtra will make provisions and facilitate permissions for IIFL HFL to educate customers and enlighten them about the benefits of PMAY. Under the agreed terms and conditions, IIFL HFL will be able to conduct on the spot counseling for home buyers visiting its branches, give presentations to defined audiences and proactively call potential customers tofacilitate home loans helping them avail CLSS subsidy benefits.
Monu Ratra, CEO, IIFL Home Finance Ltd. said “We are committed to support Hon’ble Prime Minister’s vision of ‘Housing for All by 2022’. We thank the Government of Maharashtra for giving us this opportunity to educate and enable customers in availing CLSS subsidy under PMAY. Witha network of over 10 HFC and over 150 NBFC branches located across the state, this MoU with the Government would allow us to facilitate benefits of Pradhan Mantri Awas Yojana among the affordable housing segment of home buyers”
IIFL HFL has been one of the leaders in CLSS scheme working towards financial inclusion with customized product such as ‘Swaraj Home Loan’. For its continued support in helping beneficiary families avail benefits of CLSS Subsidy under PMAY, IIFL HFL has twice received the award for ‘Best Performing PLI under Credit Linked Subsidy Scheme for EWS/LIG under Pradhan Mantri Awas Yojana’ from Ministry of Housing and Urban Affairs.
The company was recently in news for touching 23,500+ beneficiary family mark in CLSS subsidy distribution under PMAY. In the state of Maharashtra alone, IIFL HFL has approved home loans of Rs. 1000+ crore under PMAY (Urban) CLSS scheme. Till date the company has supported more than 6800 beneficiary families in the State to avail CLSS subsidy amounting more than Rs. 160 crores under PMAY.
Across India, till the month ended January 31, 2019, IIFL HFL has approved home loans of up to Rs. 3300+ crores under PMAY (Urban) CLSS scheme to beneficiary families belonging to EWS/LIG/MIG category. More than 23500+ beneficiaries have been benefited by the subsidy scheme providing Rs. 535+ crores as subsidy under PMAY.
The average ticket size for loan amount disbursed to customers under this scheme is Rs. 14 lacs in case of EWS/LIG. IIFL HFL has made exceptional growth in terms of beneficiary numbers and CLSS subsidy disbursement under PMAY-Urban. Since the launch of the scheme in 2015, CLSS beneficiary numbers of IIFL HFL have grown from 65 in FY 2015-16 to 23,500+ till Jan ’31, 2019.
Worldwide Insurance Brokers Ltd, one of the leading insurance brokers in India, has launched ‘Cover360.in’, a unique online insurance portal that offers a plethora of insurance services ranging from Health Insurance, Travel Insurance to Term Insurance, among others.With its firm commitment of ‘insuring every moment of life’ the online insurance platform ‘Cover 360.in’ has emerged as an umbrella solution for availing a complete bouquet of insurance services.
As an integrated insurance solution provider, ‘Cover 360.in’ also renders advice to the customers and helps them in choosing the right product that exactly matches their requirements. In a nutshell, ‘Cover 360.in’ provides customised plans and premium in just a few seconds with hi-tech IT tools and keeps its customers updated on insurance matter via mails, blogs and other social media platforms, besides actively supporting them in emergencies by taking them through a smooth, hassle-free claim handling process.
While unveiling the exclusive online insurance portal ‘Cover 360.in’, Mr. Kishan Lal Agrawal, Director, Worldwide Insurance Brokers Ltd. said, “We are excited to launch ‘Cover 360.in’ which aims to offer unmatched insurance buying experience to the vast Indian population. Our mission is to act as a bridge between clients and insurance companies and help the customers in making informed decisions about their exact insurance requirements. Simultaneously we strive to ensure protection of the utmost interests of our valued customers and we protect them from being sold an inappropriate insurance policy.”
‘Cover360.in’ addresses all customer pain points from buying a policy to the claim handling process. While insurance is a critical requirement for every individual, the experience of buying a right insurance policy still remains a cumbersome journey. As a ‘house of complete insurance solutions’, ‘Cover 360.in’ not only simplifies the entire process of insurance buying but it also acts as an effective tool of consumer awareness so that they can enforce their rights more effectively.
The online platform ‘Cover 360.in’ boasts a wide range of facilities that include suggesting the best suitable health, travel, and term insurance policies for the customers as per their exact requirements. ‘Cover 360.in’ has various designated sections to enlighten the customers with the complete knowledge of different policies. For example, it provides comprehensive information on a wide range of Health Insurance policies with the complete list of the network hospitals associated with them. It also facilitates the customers to store their medical records online. In a similar manner ‘Cover 360.in’ helps the customers in choosing the best term and travel insurance policies for their family. Beside these products they also provide all corporate insurance products as per their needs.
Halonix Technologies Pvt. Ltd., one of the country’s most progressive and environment friendly lighting companies is all set to rock the world of innovation through a new series of futuristic fans including Inverter Fans with ten hours of back-up. Just after introducing its revolutionary inverter LED light, Halonix has now insured that Indian consumers are well equipped to handle powercuts.
Mr. Rakesh Zutshi, Managing Director, Halonix Technologies Private Limited said, “We are bringing a unique range of inverter fans across the pedestal fans, table fans, wall fans and personal fans categories which provide a back-up of 10 hours. These fans are an integrated solution for power cuts as they also have an in-built LED light. Some of these also have a usb port to charge your mobiles as well as solar charging. ”
Major USPs of Halonix Inverter Fans:
Equipped with futuristic technology
Back up Time -10 hours
Integrated LED Light
High air delivery
All Function remote
USB Port (in some models)
Solar Charging (In some models)
Halonix has also launched a comprehensive range of fans across all categories – Ceiling, Pedestal, Wall, Table, Personal and Exhaust fans. Some of its revolutionary products include Morpheous -India’s first retractable blade chandelier fan, Cuboid – India’s first low ceiling fan without a pole, Two-in-one Autoshield exhaust fans, Plasma – Zero friction fans amongst others.
Carrying forward its glorious tradition of honouring the service of permanent value rendered to society, Maharana of Mewar Charitable Foundation (MMCF) successfully concluded the Maharana Mewar Foundation 37th Annual Awards (MMFAA) at The City Palace, Udaipur. Starting with the presentation of certificates to students, the ceremony was followed by the ritual when the awardees received awards from Dr. K. Kasturirangan, Chief Guest of the Ceremony and Shriji Arvind Singh Mewar of Udaipur, Chairman and Managing Trustee of Maharana of Mewar Charitable Foundation, Udaipur.
Instituted in the year 1980-81 by Maharana Bhagwat Singh Mewar, the Maharana Mewar Foundation Annual Awards are one of the oldest award schemes in the country to be instituted by a non-profit organisation. It was conceptualised to honour college and school students of Udaipur who had excelled in their studies and gradually broadened the spectrum to felicitate international scholars, scientists, academicians, musicians/performers, social activists, environmentalists and people who have broken the mould and provided inspiration to the world around them.
“The Awardees are selected because they are role models in our society, and credible icons for youngsters,” said Shriji Arvind Singh Mewar, Chairman and Managing Trustee of the Maharana of Mewar Charitable Foundation. “Recognition from society adds more vigour and direction in the life of an achiever, however modest or celebrated he/she may be. The task of nation-building is incomplete without such achievers being acknowledged for their contribution to society. This contribution, please note, is of permanent nature. It lasts for generations. It provides a distinct identity to the Awardee and gives Foundations like ours a sense of immense accomplishment.”
These awards are annually organised by Maharana of Mewar Charitable Foundation (MMCF) which is committed to nurturing centres of excellence in heritage management, fine arts, the performing arts, education, ecological management, philanthropy, spirituality and sports.Unique in having conceived and actualised the practices of ‘livingheritage’,the MMCF is sharing ancient legacies through broad-based and sustainable platforms of development within Rajasthan, in India and through global outreach programmes.
“Inspiration is the key word,”explained Shriji Arvind Singh Mewar,”when my respected father, His late Highness Maharana Bhagwat Singh Mewar was establishing the Maharana of Mewar Charitable Foundation in 1969, he wanted it to serve as a temple of inspiration for future generations. He firmly believed that a nation could not be built without real-life inspiring role models. Character-building goes hand in hand with nation-building.”
Each of the Awards commemorates an iconic personality or name associated with the rich and glorious history of Mewar stretching back to 1400 years. Some of the notable awardees in the past years included writers-poets, performers and visionaries like Prof. Sir Angus Deaton, Prof. A P J Abdul Kalam, Dr. E. Shreedharan, Mr. Sunil Dutt, Mr. R. K. Laxman, Dr. Rahi Massom Raza Ms. Lata Mangeshkar, Ms. P T Usha and Mr. Harivansh Rai Bachchan, etc.
To name a few among many others, this year, Colonel James Tod Award was presented to Dr. Paul T. Craddock while Ms. Swati Chaturvedi won Haldighati Award. Ms. Geeta Seshamani and Mr. Kartick Satyanarayan were bestowed upon Maharana Udai Singh Awards. Dagar Gharana Award for this year went to Ustad Mohi Bahauddin Dagar and Mr. Suresh Wadekar won Hakim Khan Sur Award.
In recognition of their exceptional contribution in providing an enriching learning experience to the early learners in their first step towards education, “SANFORT- The U.K. Concept Preschool Chain”, has won the most prestigious ‘Best Preschool Chain 2018 Award’ from ASSOCHAM at a glitzy Education Excellence Awards.
The esteemed award was bestowed upon Sanfort Schools by the honourable Governor of West Bengal, Shri Keshari Nath Tripathi amid the presence of a galaxy of celebrities from various fields.
On winning the award for helping the tiny tots into evolving as capable and responsible citizens, Mr. S.K. Rathor, Chairman & Managing Director Sanfort Group of Schools said, “This award is an apt recognition of our vision to nurture today’s little learners into tomorrow’s responsible and compassionate global citizens. Sanfort creates a tranquil, curious and challenging environment that foster’s the social, physical, emotional and cognitive development of the child.”
दिल्ली-एनसीआर के जान-माने रामाज्ञा स्कूल, नोएडा ने व्हाइट कैनवस के साथ मिलकर स्कूल प्रांगण में नोएडा में अब तक आयोजित बच्चों की सबसे बड़ी स्पोर्ट्स लीग- किड्स स्पोर्ट्स लीग सीजन-2 (केएसएल सीजन-2) का भव्य आयोजन किया। जहां एक तरफ इस आयोजन ने सभी को रोमांच और उत्साह से भर दिया वहीं इस अवसर पर सभी ने भारतीय वायु सेना के योगदान एवं वीरता को सलाम करते हुए बच्चों में देशभक्ति के जज्बे को जगाया। इस अवसर पर सैनिको के प्रति कृतज्ञता व्यक्ति करते हुए भारत माता के वीर सपूतों को सलाम किया गया जो देश की रक्षा के लिए अपना सर्वस्व न्योछावर करने के लिए हर वक्त तैयार रहते हैं और युद्ध के समय अदम्य साहस का प्रदर्शन करते हुए अनुकरणीय वीरता का प्रदर्शन करते हैं।
गौरतलब है कि रामाज्ञा स्कूल भारत की सबसे बड़ी किड्स स्पोर्ट्स लीग के आयोजन के लिए पहले ही नेशनल रिकॉर्ड धारक है।केएसएल सीजन-2 में 2 वर्ष से 8 वर्ष तक आयु वर्ग के 300 से भी अधिक छात्रों ने भाग लिया एवं इस आयोजन में नोएडा के विभिन्न प्ले स्कूल के बच्चे भी सम्मिलित हुए। इस भव्य आयोजन की शुरूआत रामाज्ञा स्कूल नोएडा की प्रिंसपल सुश्री अपर्णा मैगी ने सर्वशक्तिमान पर्मात्मा को प्रणाम करते हुए की और उसके बाद गुरू वंदना की गई और उसके बाद इस अवसर पर मुख्य अतिथि एयर वाइस मार्शल श्री एन.एम. सैमुअल ने हवा में गुब्बारों को उनमुक्त करते हुए केएसएल सीजन-2 का उद्घाटन किया। श्री एन.एम. सैमुअल वर्तमान में रक्षा मंत्रालय में असिस्टेंट चीफ ऑफ इंटीग्रेटेड डिफेंस स्टाफ के रूप में कार्यरत हैं। एयर वाइस मार्शल सैमुअल को दो राष्ट्रपति पदक मिले हुए हैं- 1989 में वीरता के लिए वीर चक्र और 2012 में विशिष्ट सेवा के लिए विशिष्ट सेवा पदक।
उद्घाटन समारोह के साथ ही सभी प्रतिक्षित एथेलेटिक इंवेट्स शुरू हो गए और बच्चों के बीच विभिन्न खेल-कूद प्रतियोगिताओं में उच्च स्तर पर प्रतिस्पर्धा एवं रोमांच देखने को मिला। पूरे दिन एक से बढ़कर एक खेल-कूद प्रतियोगिता उत्साह के प्रदर्शन के साथ चलते रहे और इस आयोजन में उपस्थित दर्शक कई यादगार क्षणों के गवाह बने। इस अवसर पर दर्शक दीर्घा में विभिन्न प्ले स्कूलों के प्रधानाचार्य, शिक्षकगण एवं शाखा प्रमुख भी मौजूद रहे।
इस बेहतरीन किड्स स्पोर्ट्स लीग में बच्चों के बहुआयामी व्यक्तित्व को प्रदर्शित करने वाले विभिन्न खेलों का समन्वय देखने को मिला और बच्चों के साथ आए हुए अभिभावकों एवं विभिन्न प्ले स्कूलों के ब्रांच हेड्स जो अपनी टीमों के साथ आए थे ने भी कई खेलों में भाग लिया। इस आयोजन का उद्देश्य बच्चों में खेलकूद की भावना को बढ़ावा देना था।
प्रिंसिपल, सुश्री अपर्णा मैगी ने सभी शिक्षकों और अभिभावकों को उनके सहयोग और समर्थन के लिए धन्यवाद दिया और बच्चों को उनकी खेल भावना को बनाए रखने की सलाह दी। सुश्री अपर्णा मैगी ने प्रबंधन, चेयरमैन – डॉ. संजय गुप्ता, डायरेक्टर- सुश्री रजनी गुप्ता एवं मैनेजिंग डायरेक्टर- श्री उत्कर्ष गुप्ता की तरफ से सभा को संबोधित किया। उन्होंने उभरती प्रतिभाओं के लिए इस तरह के शानदार मंच प्रदान करने के लिए प्रबंधन को धन्यवाद दिया। उन्होंने पुरस्कार विजेताओं के गर्वित माता-पिता को बधाई दी और उन्हें भविष्य के विभिन्न क्षेत्रों के नेतृत्व के रूप में संबोधित किया, ऐसे बेहतरीन नेतृत्व जिन्हें आगे बढ़ने वाली चुनौतियों का सामना करने के लिए खुद को कौशल से लैस करने की आवश्यकता है। इस सफल आयोजन के समापन के बाद घर जाते हुए सभी बच्चों के चेहरे पर खिलती मुस्कान और दिलों में उच्च भावना स्पष्ट रूप से दृष्टिगोचर हो रही थी।
The world may have made a lot of progress, but the financial matters of most households are still managed only by men. Women have always been considered weak in matters concerning the numbers, but if reports are to be believed, women as compared to men perform better in the financial sector.
Women have always been versatile in making and following household budgets. Many researchers have concluded that there is no physiological or psychological evidence supporting the myth that women’s brains are structured in a particular manner making them weaker in dealing with numbers. But the myth is widely believed and has created the metaphorical glass ceiling, the greatest barrier to advancement for women in any profession. This is evident from the fact that globally not many women have managed the reigns of large organizations in the financial sector. However, women are gradually breaking the stereotypes and contributing significantly in the financial sector, especially the banking sector.
Money definitely plays a vital role in human life. It has limited human life in the vicious circle of earning, spending, saving and investing. If money is so important, it is surprising that very few women are actively earning and even fewer are involved in the money matters, both at a professional level and familial level.Women contribute to more than half of the world population, but only 37% women across the globe were earning in 2017 according to the International Monetary Fund (IMF). Further appalling is the fact that only 27% Indian women are involved in the workforce. These figures make it obvious that the number of women availing financial services and holding bank accounts too would be significantly low. Global Findex Survey once highlighted that only 43% Indian women held bank accounts in 2014. However, the number sharply soared to 77% in 2017 post demonetization and Jan Dhan Yojana, government’s steps to boost financial inclusion in India. However, this has not changed the scenario much.
Why change is needed?
A recent report by the IMF highlighted that women are better at risk management. From the observed samples, the report claims that banks with women leaders were more stable, had higher capital buffers, a lower proportion of nonperforming assets and greater resistance to stress. On the other hand, small and medium-sized enterprises run by women were 54% less likely to default on payments as compared to enterprises run by men, an interesting observation made by United Nations Development Programme. It also observed that generally men invest double the usual investments made by women, but women make 20% more profit. These observations prove that women have great potential. Regardless, women are still given the back seat in fiscal matters.
What reports highlight?
Research conducted by International Monetary Fund (IMF) highlights that the inclusion of women in the financial services as users, providers or regulators will facilitate in narrowing the gender gap, fostering greater stability in the system and boosting economic growth. It also highlighted that on an average in 2015, less than 2% of financial institutions across the globe had women chief executive officers and less than 20% of the executive board panelists were women, whereas, nearly 75% of global businesses have at least one woman in senior management, a considerable rise from 66% recorded in 2017. Concurrently, the senior roles held by women are proportionally low, claimed another report, bringing to light that businesses tick off the gender diversity box by just including women in management, instead of creating an inclusive culture.
The changing trends:
Despite this, we have several examples of strong women who have fought all odds. Some women in the industry have made a noteworthy impact and come as a whiff of fresh air, challenging the myths.
Christine Lagarde broke all stereotypes and became the first woman Finance Minister of France and is the first woman to head International Monetary Fund (IMF). She was appointed as the Managing Director and Chairperson of IMF in July 2011 and was re-elected for the second consecutive term in July 2016.
Gita Gopinath was recently appointed as the Economic Counselor and Director of the IMF’s Research Department. She is the first female Chief Economist of IMF. She is also a noted Harvard Professor of Economics and was the Economic Advisor to Kerala Chief Minister Pinarayi Vijayan. Born in a middle-class family in India, Gita worked her way to the top and registered her name in history. Her journey is a perfect example showing how determined women hailing from a humble background can shine in any sector. She is also a source of inspiration for aspiring women in India.
A change for the better!
Like Gita, there are quite a few remarkable women who have achieved greatly and put Indian women on the map, which well reflects the changing situation in India. For over five decades post-independence, none of the leading banks in India were managed by women. However, we now have dozens of banks which are headed by women. Arundhati Bhattacharya was appointed as the first woman chairman of India’s largest public sector bank, State Bank of India (SBI) in 2013. Arundhati has expanded the organization’s horizon and explored new avenues of success. However, this was not the first case. Vijayalakshmi Iyer was appointed as the Chairperson & Managing Director (CMD) of Bank of India (BOI) in 2012. In 2012, Shubhalakshmi Panse too was appointed as the Chairperson & Managing Director (CMD) of Allahabad Bank and contributed a lot in improving the fiscal position of the bank. Other prominent names in this category are Anjali Bansal, Chief Managing Director (CMD) of Dena Bank and Padmaja Chunduru, Managing Director and CEO of Indian Bank. The count of such achievements and remarkable personalities would remain incomplete without mentioning Shikha Sharma considering her contribution in setting up ICICI Securities and the ICICI and JP Morgan joint venture and her other achievements at Axis Bank.
Indian women now are also leading international banks. Naina Lal Kidwai joined the HSBC group as Vice-Chairman and Managing Director at HSBC Securities and Capital Markets in 2002 and continued to grow with the bank and retired as the Executive Director on the Board of HSBC Asia-Pacific and Chairman of HSBC India in 2018. Kaku Nakhate is also a vital contributor in this sector. She is the President and Country of Head India at Bank of America-Merrill Lynch India, one of the leading wealth management, capital markets and advisory companies in India. Her efforts made India one of the most profitable markets in the Asia-Pacific region for Bank of America Merrill Lynch in 2017.
Where globally women face the glass ceiling as a growth obstacle, these women have broken the double glass ceiling of the organization and society to scale greater heights. The involvement of these women in the banking sector has brought a stir in society and has boosted women’s morale in several organizations. However, we need to realize that these are just a few streaks of change, which can be further catapulted by supporting women education, employment and empowerment.If explored deeply, the superficial challenges boil down to the actual challenges such as lack of awareness and societal discrimination.
(Author, Mr Rajiv Singh is CEO-Stock Broking at Karvy)
IIFL Home Finance Ltd. (IIFL HFL), India’s leading housing finance company was recently in the news for closing in on touching the 20,000 beneficiaries mark in terms of CLSS subsidy disbursed under Pradhan Mantri Awas Yojana. To celebrate this achievement, the company decided to felicitate the beneficiary families at an event held at GLM Meridian, T. Nagar, Chennai.
In line with Hon’ble Prime Minister Narendra Modi’s vision of ‘Housing for All by 2022’, IIFL HFL is supporting the scheme in various parts of the country. IIFL HFL has earned the notable distinction in raising awareness and taking the benefits of this scheme to the first-time home buyers belonging to EWS (Economically Weaker Section), LIG (Low Income Group) and Middle Income Group (MIG) categories. In its efforts towards educating and supporting customers to avail the benefits of CLSS subsidy under Pradhan Mantri Awas Yojana, IIFL HFL has received immense support from the Ministry of Housing & Urban Affairs and National Housing Bank (NHB).
Present at the occasion were about 20 beneficiary families who have availed Credit Linked Subsidy (CLSS) under Pradhan Mantri Awas Yojana with the support from IIFL HFL. The event was an emotional moment for many as the beneficiary families shared their stories of realizing their dream of owning a home. The chief guest at the occasion was Mr. R. N. Karthikeyan, Regional Manager, National Housing Bank (NHB) along with senior officials from IIFL HFL. Also present at the occasion were prominent developers who have supported PMAY Urban with affordable housing units in the region. These included, Mr. Hemnath M from Arun Excello Homes Private Limited, Mr. Manieprasaath from Mahindra Life Space Developers Ltd., Ms. Priyanka Prabakar P from Vjay Raja Homes Pvt Ltd and Mr. Sivakumar from Urban Tree Infrastructures Pvt Ltd.
Mr. Kranth Namala, Zonal Sales Head-South, IIFL Home Finance Ltd. said, “We feel honored and proud to support the government’s vision of ‘Housing for All’ by 2022. We have been supporting CLSS scheme in the region of AP, Telangana, Tamil Nadu, and Karnataka, enabling and educating customers avail benefits of this scheme. We are about to touch 20,000 beneficiary mark and our presence in expansion locations of Southern India has played a significant role in achieving this number. It was an emotional and proud moment for us to watch beneficiary families share their stories with us and how we have helped them realize their dream of owning a home. Requested all the beneficiaries to spread the “Good News of PMAY – Housing for All.”
IIFL HFL has been recognized as one of the ‘Best Performing PLI under PMAY CLSS for EWS/LIG’ by the Ministry of Housing and Urban Affairs for the second year in a row — for its outstanding contribution towards the Pradhan Mantri Awas Yojana’s Credit Linked Subsidy Scheme. In order to educate the customers and enlighten them about the benefits of PMAY, IIFL HFL regularly conducts on the spot counseling for customers visiting its branches, felicitates CLSS beneficiaries at events, gives presentations to defined audiences and proactively calls potential customers to educate them about the benefits of CLSS.
Till the month ended December 31, 2018, IIFL HFL has approved home loans of up to Rs. 2800+ crores under PMAY (Urban) CLSS scheme to beneficiary families belonging to EWS/LIG/MIG category. A total of 19800+ beneficiaries have been benefited by the subsidy scheme providing Rs. 450+ crores as subsidy under PMAY.
The average ticket size for loan amount disbursed to customers under this scheme is Rs. 14 lacs in case of EWS/LIG. IIFL HFL has made exceptional growth in terms of beneficiary numbers and CLSS subsidy disbursement under PMAY-Urban. Since the launch of the scheme in 2015, CLSS beneficiary numbers of IIFL HFL have grown from 65 in FY 2015-16 to 19,800+ till Dec’31, 2018.