PUNE: Bajaj Life Insurance, one of India’s leading private life insurers, announced the launch of its New Fund Offer (NFO) – Bajaj Life India Consumption Fund, designed to help investors participate in India’s fast-expanding consumption economy. The fund will invest in companies that stand to benefit from rising household incomes, increasing urbanisation, rapid digital adoption, and the growing aspirations of Indian consumers across sectors. The fund will be available under Bajaj Life’s unit-linked insurance plans (ULIPs). Bajaj Life ULIP products with underlying Bajaj Life India Consumption Fund enable policyholders to achieve their life goals, powered by the security of a life cover and the opportunity for wealth creation.

India’s consumption landscape is undergoing a major shift driven by demographic strength, higher disposable income, and a strong move towards organised markets. With private consumption contributing a large share of India’s GDP, the long-term growth potential for consumer-oriented businesses remains compelling. The Bajaj Life India Consumption Fund aims to tap into this structural transformation by building a diversified, actively managed portfolio of companies linked to the country’s consumption engine.

The fund follows a multi-stage investment approach across large, mid, and emerging companies in sectors such as retail, consumer goods, automotive, healthcare, telecom, consumer services, hospitality, and lifestyle products. With an investment universe of more than 400 stocks, the fund will shortlist high-conviction ideas using a disciplined Growth at a Reasonable Price framework. The fund will be benchmarked against the Nifty India Consumption Index for performance comparison. It is suitable for investors with a high-risk appetite and a long-term investment horizon.

Speaking on the launch, Srinivas Rao Ravuri, Chief Investment Officer, Bajaj Life Insurance, said, “India has entered a phase where consumption growth is becoming both broad-based and sustainable. Rising incomes, formalisation, digital convenience, and evolving lifestyle choices are reshaping how India spends. The Bajaj Life India Consumption Fund is positioned to capture this powerful shift by investing in high-quality businesses with large opportunity sizes and strong earnings visibility. We aim to create a portfolio that participates in the next decade of India’s consumer growth and delivers meaningful long-term value for investors.”

The launch of the Bajaj Life India Consumption Fund reinforces the Company’s commitment to building thoughtfully designed, long-term investment solutions. By offering exposure to sectors benefiting from rising consumption and consumer aspirations, the company aims to help investors in their wealth creation journey.

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MUMBAI: In a move aimed at bringing its innovative range of products closer to consumers, the Appliances business of Godrej & Boyce, part of Godrej Enterprises Group, has launched its ‘Appliances on Wheels’ initiative. This unique campaign, which began on October 4th in Maharashtra, is designed to take the brand’s Exclusive Brand Outlet – ‘Inspire Hub’ experience directly to consumers, covering approximately 2500+ kms and engaging 4,000 households across 21 destinations in Maharashtra.

Godrej Appliances’ Exclusive Brand Outlets, known as Inspire Hub, offer an immersive shopping experience for customers, showcasing the brand’s diverse product portfolio under one roof. Through the Appliances on Wheels, the brand is taking this experience to consumers directly, aiming to increase brand visibility and consumer engagement. The vehicle, equipped with Godrej Appliances’ advanced product portfolio, provides consumers with hands-on interaction with its complete range of home appliances – refrigerators, washing machines, air conditioners, dishwashers, microwave ovens, air coolers and deep freezers.

A key highlight of this initiative is the Virtual Reality (VR) experience, offering consumers an immersive way to explore Godrej Appliances’ advancements in technology. The VR activation showcases the brand’s AI powered appliances, allowing consumers to engage with the product range in an interactive and experiential manner.

Complete with a range of interactive engagement activities, assured gifts, vouchers, and exciting prizes, the brand aims to create a fun and memorable experience for visitors, encouraging them to explore the brand’s offerings further at their nearest stores.

Consumers have also shared their enthusiasm for the unique initiative. One customer remarked, “After hearing about this initiative from a friend, I was very intrigued, especially since I had been considering purchasing a Washing Machine. The idea of having a store brought directly to my doorstep was very interesting and made the purchase a memorable one for both me and my family.”

Speaking about the initiative, Swati Rathi, Head of Marketing, Godrej Appliances, said, “With the ‘Appliances on Wheels’ initiative, we are bringing our exclusive store experience directly to the doorsteps of our consumers during the festive season. We want them to feel connected to our products, in an experiential manner and the VR experience will help to make the engagement more memorable. The initiative is aligned to the brand’s constant focus on consumer engagement and innovation. Maharashtra has 25+ Godrej Inspire Hub Appliance stores and hence we chose the state for this initiative.”

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INDIA: Saudi’s national tourism brand, ‘Saudi Welcome to Arabia’ will be hosting its first-ever immersive consumer event ‘Spectacular Saudi’, from September 25 to October 2,  from 2:00 p.m. – 10:30 p.m. at R2 Ground in BKC, Mumbai. Slated to transport visitors straight to the Heart of Arabia; the 8-day extravaganza promises a sneak peek into Saudi’s many wonders and iconic experiences, all while extending the warm Saudi welcome.

Visitors can expect unique immersive experiences–including exhibits, culinary delights, Ardah dancers, Saudi coffee, traditional scents, and fashion–all under one roof. Each experience will offer an interactive element, starting with conventional coffee, dates, and Bakhour. Next, visitors will be guided through the ‘mountains and mirrors’ display, evocative of the iconic Maraya Hall in Alula. With many Instagram-worthy moments, visitors can start at the ‘360 Selfie Corner’ and choose from a selection of backdrops showcasing the many seasons, and natural wonders Saudi has to offer, such as the wild lavender fields in Al Jouf.

A must for fashion enthusiasts–the Sadu Art Installation–is bound to impress. Surrounded by colossal pieces of Sadu weaves, the display dwells into the history of this ancient craft preserved by Bedouin women and recognized by UNESCO as an intangible cultural heritage practice. Gastronomy buffs can enjoy Saudi delicacies at the Al Balad-inspired culinary corner. 

Featuring exclusive giveaways and discounts tailored for Indian travelers, the Spectacular Saudi event makes it even easier for Indian travelers to apply for their Saudi visa! A true one-of-a-kind offering, all one has to do is present a valid Visa or Mastercard credit card at one of eight dedicated Tasheer kiosks, ensure the name on the credit card matches the passport, and have sufficient funds available on the card. After that, sit back and relax as your visa will be in hand within 48 hours.

On the travel front, SAUDIA Airlines is offering special deals, including a buy one get 50% off on the second ticket if traveling business class. Additionally, all economy class tickets will be 15% off. Attendees will also have the chance to participate in daily giveaways for free flight tickets for two to Saudi. 

With over 50+ travel trade offers, visitors can access incredible cashback and discounts on Saudi travel packages. Additionally, those booking Saudi packages will enjoy complimentary cultural city tours. Group tour packages to Riyadh, Jeddah, and Dammam will be available exclusively at the event, starting at INR 99,999 for 5 nights. 

These exciting offers, discounts, immersive experiences, and more, are designed to ensure that Indian travelers are ready to indulge in the very best Saudi has on offer. So don’t miss out and register here to experience a piece of Saudi, right in the heart of Mumbai. 

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NEW DELHI: Aditya Birla Group Chairman, Kumar Mangalam Birla, today announced the launch of the Group’s jewelry retail business, marking the Group’s foray into the rapidly expanding Rs.6.7 lakh crore Indian jewelry market. This strategic move marks another significant milestone as the Group strengthens its consumer portfolio, leveraging its strong brand equity and deep market insights. The jewelry business, launched under the brand Indriya, aims to secure a position among India’s top three jewelry retailers over the next 5 years. This ambitious venture is backed by an unprecedented investment of Rs 5,000 Cr, underscoring the Aditya Birla Group’s commitment to revolutionizing the jewelry retail landscape in India.

Commenting on the launch, Kumar Mangalam Birla, Chairman, of Aditya Birla Group, said, “ The Indian consumer is rapidly coming of age and India is perhaps the most promising consumer cohort globally. This year, we have redoubled our bet on the dynamism of the Indian consumer, by launching two major new consumer brands – in paints and jewelry. Entering the jewelry business is compelling due to the ongoing value migration from informal to formal sectors, the rising consumer preference for strong, trusted brands, and the ever-booming wedding market, all of which present substantial growth opportunities. This foray is a natural extension for the Group which has been in the fashion retail and lifestyle industry for over 20 years. The robust competencies that we have honed in retail, design, and brand management will serve as pillars for our success.”

Indriya will simultaneously open four stores in three cities – Delhi, Indore, and Jaipur. The plan is to expand to 10+ cities within six months. The large 7000 sq ft plus stores— 30%-35% larger than the average size of national brands’— will carry an extensive range that spans occasions.  The brand will offer a large initial assortment of 15000 curated jewelry pieces with over 5,000 exclusive designs. New collections will be introduced every 45 days – the fastest mind-to-market cycle in the Indian fine jewelry market.

Dilip Gaur, Director, of Novel Jewels said, “Through Indriya, we are poised to redefine standards in creativity, scale, technology, and customer experience in the jewelry sector. It is built on the understanding that each piece of jewelry tells a unique story of craftsmanship. The distinctive product, exceptional customer experience, and immersive buying journey are ultimately enablers to unlocking self-expression via jewelry. Our product fuses timeless craft but reimagines contemporary designs. Our regional selection celebrates unique backgrounds but opens them up for discovery across other cultures”

Sandeep Kohli, CEO of Novel Jewels, said, ” Jewellery as a category is transitioning from mere investment to a statement. Our proposition is built on perceptible differentiation, distinctive designs, personalized service, and authentic regional nuances. At the heart of Indriya’s offering is the innovative Signature Experience with exclusive lounges. Customization services with in-store stylists and expert jewelry consultants promise to elevate all five senses and create an unparalleled shopping journey. Our best-in-class digital front end will create a seamless experience across digital and physical touchpoints and herald the new age in jewelry retail.”

The brand name ‘Indriya’ has its origins in Sanskrit, deeply rooted in India’s rich cultural heritage. Indriya is an ode to the five senses. The name reflects the brand’s philosophy of creating jewelry that awakens and delights all five senses, defining one’s being and consciousness. Indriya’s brand insignia, a Female Gazelle, serves as a powerful metaphor for the senses and epitomizes the beauty and grace of a woman. This symbol represents the brand’s commitment to creating jewelry that not only adorns but also empowers and celebrates the wearer.

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INDIA: The Saudi Tourism Authority (STA) marked the start of this year’s Arabian Travel Market (ATM) by showcasing Saudi’s spectacular summer destinations to trade partners – as the country’s tourism sector continues to go from strength to strength.

Representatives from Saudi’s booming tourism ecosystem kicked-off the Middle East’s biggest travel and tourism trade show aiming to build awareness of Saudi’s unique and diverse summer destination offering, strengthen and establish new trade partnerships, and celebrate the remarkable year-on-year growth of the Saudi tourism sector.

Fahd Hamidaddin, CEO and Board Member of STA, is leading the Saudi delegation of 72 partners from across the tourism sector, including top destination management companies, hoteliers, and airlines, to the show that started in Dubai today.

The delegation is aiming to showcase Saudi’s distinctive summer destinations to trade partners and consumers in the GCC region and underline Saudi’s status as a world-leading year-round tourism destination, with a strategic focus on priority markets like India and China.

Over the summer season, Saudi offers a unique and diverse range of activities and destinations for visitors including young families ranging from the pristine beaches of the Red Sea, the rich culture of Jeddah, and an events program like no other, including the Esports World Cup starting in Riyadh this July.

Saudi’s mountainous regions including the tranquil and picturesque destinations of Aseer, Taif, and Al Baha also provide a refreshing escape during the summer season with temperatures in the low 20s. These serene retreats are ideal for adventure travelers who seek natural beauty, wildlife, hiking trails, and cool breezes.

Fahd Hamidaddin, CEO and Board Member of STA, said: “We’re delighted to be back at ATM this year to showcase Saudi as a unique summer destination, offering an action-packed events calendar, cool mountain regions for adventurer seekers, and pristine beaches for families and those looking to relax.

The MEA and APAC markets are hugely important in our overarching tourism strategy with a combined 23 million visits last year, and we will be focusing on growing those numbers.

Having welcomed over 100m tourists in 2023, Saudi is the land of now – offering growth and opportunities like no other to trade partners across the globe. And over the coming days, we look forward to building new long-lasting partnerships, sharing knowledge, and showcasing the wealth of opportunities Saudi has to offer.”

Building on the success of last year’s presence at ATM, where over 50,000 visitors were welcomed at the Saudi stand, this year’s exhibit is set across three floors with partners showcasing hundreds of affordable and luxury bookable products for destinations such as Jeddah, AlUla, Aseer, Riyadh, and the Red Sea.

Visitors can race a bike through the mountains of Aseer on a virtual simulator, download specially curated Saudi Summer playlists in partnership with Anghami, see an array of football memorabilia at the Saudi Pro League Museum, and enjoy live performances of traditional Saudi dancers, digital art displays from local artists. The diversity of Saudi will also be showcased with an interactive Saudi map and activities calendar.

The stand also showcases the new “Saudi Rewards” scheme, a first-of-its-kind national rewards program, offering free nationwide rewards for citizens and visitors to unlock points on tourism, shopping, dining, entertainment, and more. Saudi Rewards currently has a network of 17 partners and will have a dedicated booth at ATM with interactive activations for visitors to enjoy.

On the first day of the event, Mr Hamidaddin participated in a flagship panel event alongside other tourism leaders from the GCC to discuss collaboration and Saudi’s role in the region’s growing tourism sector.

Popular UAE radio station Dubai Eye also broadcast their afternoon show live from the Saudi booth where they discussed Saudi’s summer offering, while trailblazing Indian influencer Masoom Minawala Mehta and world-famous travel influencer brothers, Wael and Nael Abualteen, were on the stand creating content for their social channels.

STA and its partners are aiming to build on the successes of last year’s ATM, where more than 1,600 deals and more than 50 MoUs and strategic agreements were signed – resulting in 35,000 extra visits.

Saudi presents trade partners with an unparalleled opportunity for sustained growth. Notably, the country achieved a significant milestone by welcoming 100 million tourists in 2023. Together with partners, STA is building knowledge of Saudi’s destination offerings to consumers, to address barriers to destination knowledge and welcome more visitors than ever to the Kingdom.

This boom has continued in 2024, with the first quarter of the year witnessing a double-digit growth increase in tourists compared to the same period last year – bolstering Saudi’s position as a leading global tourism destination and driving progress towards its revised target of 150 million visits by 2030.

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The Indian consumer is extremely conscious of decorating the walls of their homes. However, most of them ignore the essential need to waterproof their walls to protect their home from water leakage and dampness. The new iblok campaign showcases the way we easily block things and people in life in a quirky way and also highlights the comprehensive protection provided by the iBlok Waterstop range. It gives customers the freedom to creatively transform every corner of their homes. Conceptualized by TBWA/India, the film features brand ambassador Ayushmann Khurrana as he navigates tricky conversations and has a simple yet effective solution to block leakage from affecting the beautiful ceiling he has thoughtfully created in his new home.

According to A S Sundaresan, Joint MD & CEO of JSW Paints, “We urge our consumers to ‘Think Beautiful’ and when they do we are always there. The insight behind the campaign is that when a customer has a ‘Khoosurat Soch’ to have a beautiful ceiling – often affected by leakage, JSW Paints iBlok range is there to ensure it is surely protected. This lets them do more at home and keep it beautiful.”

Govind Pandey, CEO, of TBWA\India, said, “You think beautiful not just when you create something beautiful but also when you protect beautiful creations!“

Russell Barrett, CCExpO, TBWA\India said, “JSW Paints has stood for disrupting the category through thoughtful innovations for years now. With this film, the brand asked the provocative question – wouldn’t it be nice if more irritants in life could be blocked just as easily as iBlok waterproofing range blocks and protect our homes from the elements? The film dramatizes that perfect world with a humorous reminder that the iBlok waterproofing range of paints protects our homes from the irritants on the outside, unfortunately not for those found on the inside.”

JSW Paints’ iBlok Waterstop Range offers consumers an effective solution for waterproofing their homes with confidence. As leakage and moisture concerns are prevalent, the iBlok Waterstop Range provides superior protection and longevity for your walls. The iBlok Waterstop 3K product is a revolutionary three-component Crystalline Waterproofing solution for superior waterproof coating. The range’s prowess extends across interiors, exteriors, cracks, and roofs, addressing all concerns from capillary action to crack bridging to anti-efflorescence ensuring that your walls remain pristine and protected.

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PUNE: Godrej & Boyce, the flagship company of the Godrej Group, announces its business Godrej Interio, India’s leading furniture and interior solutions brand is set to offer a more enhanced experience for its customers in Pune by delivering value and aesthetics for the modern Indian home. Godrej Interio currently commands a market share of 15% and has strategic plans to inaugurate 60 new stores in the western market during the fiscal year 2024-25.

As the consumer demand has increased in Pune, Godrej Interio is determined to strengthen its omnichannel presence, in a bid to ensure a more accessible and seamless buying experience for its customers. The brand has over 15 showrooms, 70 channel partners, and 110 retail stores across Maharashtra and they aim to expand their presence to 25 showrooms, 100 channel partners, and an extensive network of over 200 retail stores across the state.   Pune has 108 showrooms (18 company-owned / others distributor-owned).

Speaking on the importance of this market, Dev Sarkar, Senior Vice President (B2C), Godrej Interio, said, “Godrej Interio boasts strong brand recall and a significant customer base nationwide. With Pune’s home furniture market experiencing steady annual growth of over 18%, there’s a noticeable surge in demand for various furniture categories, including home storage, bedroom sets, living room furniture, modular wardrobes, and kitchens for standalone residences. We’re strategically positioned to capitalize on these trends and enhance our market presence. Our goal is to achieve a 20% compound annual growth rate (CAGR) over the next three years, targeting revenue of approximately INR 400 crores from Western India by FY27. Moreover, Pune’s thriving real estate sector, driven by robust demand for homeownership and a supportive business environment, presents additional opportunities. The increasing preference for large-sized, mid-sized, and affordable homes underscores the dynamic nature of Pune’s real estate market, further benefiting organized furniture players like us.

Located in the state-of-the-art facility, our Shirwal manufacturing unit near Pune, we are contributing to employment opportunities for the nation’s youth.

Due to the strong brand recognition, we are certain that the brand will further expand the customer base bringing more patrons into the rapidly expanding Godrej Interio family.”

The recent ‘HomeScapes’ study by Godrej Interio reveals the unique expression of consumers’ personalities and values in their home and home décor choices. According to the study, more than half of Indian consumers (58%) express a profound emotional attachment to their first independently purchased piece of furniture. Additionally, a significant 74% of respondents believe that the furniture, furnishings, and decor chosen for their homes not only reflect personal growth but also symbolize professional and financial progress. The survey, conducted with 2822 Indians across the nation, provides valuable insights into the emotional and aspirational connections people have with their living spaces.

Godrej Interio has launched its new outlet The Home Makers, at Wagholi, Pune. Spread across a sprawling 3200 sq ft, this store will provide an impetus to Godrej Interio’s retail presence in the Pune region and in the Western markets in India. The inauguration of this Godrej Interio store at Karma Enterprises in Chougule Complex marks a pivotal moment offering a wide range from stylish home

furniture to cozy mattresses, the store is designed to elevate every corner of your home. To celebrate the launch of the new store, the brand is offering up to 35% off on Home Furniture.

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NEW YORK: The FTC charged Simple Health with misleading people into thinking they were buying comprehensive health insurance that would cover preexisting medical conditions, prescription drugs, primary and specialty care treatment, inpatient and emergency hospital care, surgical procedures, and medical and laboratory testing. However, most enrolled consumers reported paying as much as $500 per month for a medical discount program or minimal benefit program that did not deliver the promised benefits and often left consumers with thousands of dollars in uncovered medical bills.

In a complaint filed in 2018, the FTC said that Florida-based Simple Health misled people into thinking they were buying comprehensive health insurance that would cover preexisting medical conditions, prescription drugs, primary and specialty care treatment, inpatient and emergency hospital care, surgical procedures, and medical and laboratory testing. In reality, most consumers who enrolled reported paying as much as $500 per month for what was actually a medical discount program or minimal benefit program that did not deliver the promised benefits and often left consumers with thousands of dollars in uncovered medical bills, or worse yet, unable to get necessary healthcare.

The court found that Dorfman and Simple Health, along with Health Benefits One LLC, Health Center Management LLC, Innovative Customer Care LLC, Simple Insurance Leads LLC, and Senior Benefits One LLC violated the FTC Act and the agency’s Telemarketing Sales Rule. 

In granting the FTC’s motion for summary judgment, the Federal District Court in the Southern District of Florida found that Simple Health, along with Health Benefits One LLC, Health Center Management LLC, Innovative Customer Care LLC, Simple Insurance Leads LLC, and Senior Benefits One LLC violated the FTC Act and the agency’s Telemarketing Sales Rule. The court ordered that all of their assets, which have been frozen since November 2018, be liquidated and all the proceeds be turned over to the FTC, which is expected to use the money to refund consumers.

The court also prohibited any misrepresentations in the sale of any good or service and required the defendants to destroy any personal information they collected about their customers. Simple Health’s Chief Compliance Officer Candida Girouard agreed in February 2021 to settle the FTC’s charges and is banned from marketing, promoting, or selling any healthcare-related products, from making misrepresentations in connection with the sale of any good or service, and from violating the FTC’s Telemarketing Sales Rule.

Samuel Levine, Director of the FTC’s Bureau of Consumer Protection, said, “Simple Health preyed on consumers by selling them bogus health care insurance that cost them thousands of dollars for ‘benefits’ that left consumers unprotected. We are pleased the court recognized this blatant bait and switch and ordered the company and its CEO to turn over the money they bilked from consumers.“

The litigation was handled by Elizabeth Scott, Joannie Wei, Purba Mukerjee, and Jim Davis from the FTC’s Midwest Regional office.

The Federal Trade Commission works to promote competition and protect and educate consumers. Learn more about consumer topics at consumer.ftc.gov, or report fraud, scams, and bad business practices at ReportFraud.ftc.gov.

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NEW DELHI: CRIF High Mark, a leading Indian credit bureau, in collaboration with Digital Lenders Association of India (DLAI) – the national-level industry association of digital lenders with 100 members, has launched the first edition of the ‘CRIF – DLAI FinTech Barometer Vol I Personal Loans – Deep dive,’ today.

In alignment with the policy objective of ushering the Universal financial inclusion, digital lenders have used technology to enable non-face-to-face, faster, paperless disbursals to increase access to credit to previously underserved and unserved segments. Through customized, innovative products and utilization of data analytics, such lenders can differentiate themselves from the legacy players. Such a shift from traditional to customized lending, will strengthen the objective of universal financial inclusion and enable the enhancement of asset quality, selection of customer profiles, and boost profitability.

CRIF High Mark and DLAI have analyzed the role of digital lenders in overall Personal loans and Short-term Personal Loans from March’20 to Sept’23. These categories drive credit coverage and financial inclusion. This report is based on data reported to the Bureau as of Sept’23 and data from 52 DLAI members has been considered.

Key Insights into trends and patterns shaping the Retail, Personal, and Short-term Personal Loan categories:

1. Resurgence in Consumer Lending Post Covid
   • For Consumer Lending Universe, the Portfolio size has grown by 64% from Mar’20 to Sept’23 and PAR 31-180 Improved from 4.7% to 3.5% over the same period (An improvement of 25%)
   • Consumer Lending witnessed a resurgence in lending Post covid led by Products viz STPL (204% growth) followed by Gold Loans (121%), Personal Loans (115%), and Credit cards (76%) respectively from Mar’20 to Sept’23
   • Increase in PAR 31-180% for HL and Credit Cards from Mar’23 to Sept’23
   • Top States for Consumer Loans are Urbanized and Industrialized states Ex: Maharashtra Tamil Nādu and Karnataka. Uttar Pradesh and Rajasthan are exceptions to this trend
2. Personal Loans in India – A Deep Dive
   • Resurgence in Overall Personal Loans post Covid with 116% growth in Portfolio outstanding from Mar’20 to Sept’23
   • Resurgence is heterogenous among States: Good growth in states Maharashtra (99%), Tamil Nadu (95%) and Karnataka (111%) despite higher base
   • Good growth in Overall PL Originations. 2X growth in Origination Value and 2.6X growth in Origination Volume from FY20 to FY23
   • In the Personal Loan (PL) universe, Digital Lenders (DLAI members) contributed 7.9% to Originations value and 19.8% to Originations volume in FY23
   • While the Originations volume (Sanctioned loans) of loans with ticket sizes under Rs 1 Lakh are still significant for Digital lenders (DLAI members), the Originations value (Sanctioned amount) of these loans – esp STPL (under 50k) has decreased from FY20 to FY23. There is a significant increase in Originations value (Sanctioned amount) share for Digital lenders (DLAI members) of loans with ticket size above Rs 1 Lakh from FY20 to FY23
   • The growing dominance of NBFCs in Originations: Increasing Share of Digital Lenders (DLAI Members) and Other NBFCs by Originations value from FY20 to FY23. Increasing Share of Other NBFCs in Originations volume during the same period
3. The Short-Term Personal Loans in India –A Deep Dive
   • Growth coming from Beyond Top 100 Cities. 3.5X growth seen for Beyond Top 100 cities vs 2.3X growth for Top 8 cities & Top 9-100 cities in Originations volume for ticket size <Rs 10K from FY20 to FY23
   • Growth coming from Beyond Top 100 Cities. 5X growth seen for Beyond Top 100 cities vs 3X growth for Top 8 cities & Top 9-100 cities in Originations volume for ticket size <Rs 10K-50K from FY20 to FY23
   • Beyond the Top 100 Cities with less saturation operating at similar risk levels compared to the Top 8 and Top 9-100 cities

Commenting on the report Mr. Sanjeet Dawar, Managing Director, CRIF High Mark, said “New-age digital lenders have revolutionized lending through wider reach and innovative products, and now they are also focusing on asset quality and customer selection. We, at CRIF High Mark, are pleased to partner with DLAI for the launch of the CRIF – DLAI FinTech Barometer Vol I. CRIF High Mark is committed to engaging and curating reports that are beneficial for the industry and the ecosystem at large.

Commenting on the report Mr. Jatinder Handoo, CEO of DLAI said, “In a strategic collaboration, DLAI and CRIF-High Mark have produced a comprehensive report on India’s retail lending landscape and movement of Digital lenders’ portfolio in terms of quantum, quality, and the outreach. This joint synthesis of insights marks a pivotal moment in understanding and interpreting the industry’s pulse, paving the way for transformative strategies that align with the nation’s aspirations for financial accessibility and technological advancement.”

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NEW YORK, NY: The Federal Trade Commission’s Office of Technology is hosting a virtual tech summit on January 25, 2024, that will bring together a diverse group of stakeholders to discuss key developments in the rapidly evolving field of artificial intelligence (AI), looking across the layers of technology related to AI.

The summit will bring together representatives from academia, industry, civil society organizations, and government to discuss the state of technology, emerging market trends, and real-world impacts of AI. The discussions will also explore how to cultivate a marketplace that allows both consumers and businesses, including startups and small businesses, to thrive.

FTC Chair Lina M. Khan and Commissioners Rebecca Kelly Slaughter and Alvaro Bedoya will provide remarks at the summit. The event will also feature three-panel discussions. These include discussions on the hardware and other key infrastructure that will be needed for AI development; issues related to the data and models used in AI; and AI-powered consumer applications.

The summit will begin at noon and take place online. The tentative agenda is available on the event website. Information on how to participate will also be posted to the event page soon.

The Federal Trade Commission works to promote competition and protect and educate consumers. You can learn more about consumer topics and report scams, fraud, and bad business practices online at ReportFraud.ftc.gov.

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