PUNE: TVS Motor Company (TVSM), a global leader in the two and three-wheeler segments, announced the launch of its new electric offering, TVS Orbiter, in Maharashtra. Designed to redefine the everyday commute, the TVS Orbiter combines several segment-first features such as a 158 km IDC range, cruise control, 34-litre boot space, hill hold assist, and advanced connected features. With an industry-first 14” front wheel, the scooter delivers unmatched comfort, convenience, and performance, at an attractive price of ₹94,900 (ex-showroom Mumbai, inclusive of PM e-Drive scheme).

The TVS Orbiter is packed with advanced features like the connected mobile app, front LED headlamp with visor, and a coloured LCD cluster with incoming call display, elevating customer delight and convenience. Its 3.1 kWh battery and enhanced aerodynamic efficiency deliver extended range with stable, efficient performance.

Commenting on the launch, Aniruddha Haldar, Senior Vice President — Head Commuter & EV Business and Head Corporate Brand & Media, TVS Motor Company, said,

“We are committed to consolidating our leadership in the EV space, driving India’s electric mobility journey with a strong foundation of trust and innovation. Guided by the evolving needs of our customers, the TVS Orbiter represents our next step in redefining urban commuting in Maharashtra. It combines everyday practicality with advanced technology, enhanced aerodynamic efficiency, spacious comfort, and segment-first features. We are confident that TVS Orbiter will set new benchmarks in this segment, making sustainable mobility both accessible and aspirational.”

ENGINEERED FOR EFFICIENCY AND CONTROL

Equipped with a 3.1 kWh battery, the TVS Orbiter delivers an impressive IDC range of 158 km. Its enhanced aerodynamic efficiency improves both stability and energy performance, while the 14” front wheel paired with a dynamic rear configuration ensures exceptional grip, precise handling, and confident manoeuvrability in urban environments. The upright ergonomic handlebar further enhances ride dynamics, offering superior comfort and effortless control.

DESIGN PHILOSOPHY

At its core, the TVS Orbiter follows a modern, endearing and purposeful design philosophy that strikes the perfect balance between aesthetics and function. The 845 mm long flatform seat ensures comfort for both rider and pillion, while the 290 mm straight-line footboard provides ample legroom. The wide and upright handlebar offers an ergonomic posture, making rides effortless. It also includes 34 litres of under-seat storage, large enough to fit two helmets.

TECHNOLOGY & CONNECTIVITY

The TVS Orbiter offers an intelligent connected riding experience, including:

• Proactive safety: Crash, fall, anti-theft, geo-fencing, and time-fencing alerts.
• Always in control: Check battery charge and odometer remotely on the mobile app.
• Smart navigation: Turn-by-turn guidance with customizable settings.
• Stay connected: Calls, SMS, and personalized alerts on the LCD digital cluster.
• Rider confidence: Hill Hold Assist, Cruise Control, and Parking Assist.
• Up-to-date, always: Effortless OTA updates.
• Dual modes: Eco and Power with regenerative braking for range and safety.

SAFETY & ASSURANCE

The TVS Orbiter redefines safety with an advanced suite of connected features, including time fence, live location tracking, navigate-to-vehicle, crash and fall alerts, emergency notifications, geofencing, anti-theft, and towing alerts – ensuring a truly intuitive riding experience. With 169 mm ground clearance, LED headlamp with integrated indicators, edge-to-edge combination lamps, a USB charging port, and robust body balance, the TVS Orbiter inspires unmatched confidence and assurance on every ride.

VIBRANT PALETTE:

TVS Orbiter is curated with a palette of exciting colours – Neon Sunburst, Stratos Blue, Lunar Grey, Stellar Silver, Cosmic Titanium, and Martian Copper.

The post Discover the TVS Orbiter: An Innovative Solution for Sustainable Urban Mobility in Maharashtra appeared first on NRI News.

The MoU was formally signed in Mumbai in the presence of Shri Prabhat Chaturvedi, CEO, NUCFDC, and Shri K. V. Mukundan, CEO, IIA India. The collaboration aims to introduce globally benchmarked audit and risk management frameworks to UCBs, aligning with broader regulatory objectives of strengthening institutional resilience and restoring depositor trust.

RBI guidance on risk-based internal audit encourages banks to adopt international standards of internal audit, like those issued by IIA and BCBS. Under the agreement, IIA India will support NUCFDC’s long-term mandate of improving governance frameworks within UCBs. The scope of cooperation includes the adoption of international audit standards, strengthening internal control systems, and enhancing the professional capabilities of internal auditors and senior management personnel.

NUCFDC will assist UCBs to adopt robust governance models, and IIA India will offer participating UCBs access to its extensive global knowledge base, including resources on internal audit standards, ESG, and AI-related practices in audit and risk frameworks. UCB officials will also gain access to Internal Auditor magazine, “Tone at the Top briefings”, global webinars, structured training modules, and functional workshops, as well as awareness programmes designed to improve audit quality and institutional resilience across the Urban Cooperative Banking spectrum.

Shri Prabhat Chaturvedi, CEO, NUCFDC, said,

Echoing the sentiment, Shri K V Mukundan, CEO, IIA India, said,

Key leaders from both organizations also participated, including Sumit Hans (Chief Business Officer, NUCFDC) and Manish Solanki (President, IIA Bombay Chapter), and Rajiv Divadkar (Chief Growth Officer, IIA India). The strategic alliance comes at a critical juncture, as policymakers and regulators intensify efforts to professionalise and strengthen the resilience of the Urban Cooperative Banking sector. As 2025 marks the UN-designated “International Year of Cooperatives”, the move underscores the crucial role of UCBs in promoting grassroots financial inclusion and governance-led development.

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Speaking about the initiative, Shri Prabhat Chaturvedi, CEO, NUCFDC, said, “This is a defining step towards building a future-ready UCB sector. In alignment with the Government of India’s vision of ‘Sahakar Se Samriddhi’ to strengthen the cooperative sector, Sahakar PaathShaala aims to strengthen compliance frameworks for UCBs and empower them to become dynamic, digitally enabled, and future-ready institutions. This is not merely capacity building; it is a capacity transformation program. The program aims to boost sectoral excellence and chart sustainable growth for UCBs to thrive in an evolving financial landscape”.

This structured, multi-dimensional learning platform offers practical insights into key areas such as KYC compliance, fraud risk mitigation, and treasury management. Designed specifically for UCBs, the program goes beyond knowledge-sharing to support institutions in meeting member goals and keeping pace with evolving regulatory demands. It emphasizes strengthening governance and compliance, cultivating agile leadership to manage risk and drive growth, building a digitally skilled workforce, and accelerating digital transformation through enhanced adoption of technology and IT tools.

NUCFDC also unveiled the ‘Sahakar PaathShaala Digital Learning Platform’. This gamified, multilingual portal allows UCB professionals to learn flexibly, anytime, anywhere. Inaugurated by Shri Sharad Gangal, Chairman, TJSB Bank, the platform supports continuous learning in English and major regional languages.

Concurrently, NUCFDC rolled out the ‘Sahakar PaathShaala Interactive Webinar Series’, scheduled for the second and fourth Fridays of each month. These webinars will serve as an ongoing dialogue and learning forum for Chairmen, CEOs, and senior management of UCBs.

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AHMEDABAD: Adani Cement and CREDAI (Confederation of Real Estate Developers’ Associations of India) have entered an exclusive preferred partnership to advance sustainable and high-quality construction in India. The signing took place in the presence of Hon’ble Chief Minister of Goa, Shri Pramod Sawant, during the CREDAI Governing Council Meeting held in Panjim, attended by industry body office bearers and leading developers from across the country.

This strategic alliance brings together Adani Cement and the country’s apex body of private real estate developers, aiming to benefit both organisations and the broader construction industry. Under this collaboration, Adani Cement will leverage CREDAI’s nationwide network of 13,000+ developers to strengthen its B2B outreach, while CREDAI members benefit from Adani Cement’s industry-leading solutions.

Vinod Bahety, CEO – Cement Business, Adani Group, stated: “Our exclusive partnership with CREDAI is a testament to Adani Cement’s commitment to nation-building through sustainable and innovative construction. By joining hands with CREDAI, we aim to accelerate the adoption of world-class cement products and green concrete solutions in India’s real estate sector. This collaboration aligns perfectly with our vision of building a greener, smarter urban future – one where Adani Cement’s technical expertise and CREDAI’s on-ground experience come together to create stronger, safer, and more sustainable structures. We are excited to work closely with CREDAI members and support them with the best of our materials and R&D capabilities, ultimately delivering superior value to homeowners and contributing to India’s growth story.”

In practice, the industry body members will have the advantage of enhancing their project quality in various parameters, including:

• Availability of Adani Cement’s Innovative Concrete Solutions: Availability of Adani’s diverse Ready-Mix Concrete (RMX) and advanced concrete solutions customised to varied requirements, from standard grades to specialised mixes. Notably, this includes Adani Cement’s green RMX range like ECOMaxX ultra high-performance concrete (UHPC), which offers the industry’s broadest range of green concrete with 30–100% lower embodied carbon content compared to conventional concrete. Self-compacting concrete (SCC), Jetsetcrete – high-strength concrete (HSC), and Coolcrete – thermally controlled concrete (TCC) are also included in the range. Such eco-friendly concrete options allow developers to significantly reduce the carbon footprint of their projects without compromising on strength or performance. Adani RMX will soon announce the Environmental Product Declaration (EPD) for all their concrete grades via lifecycle assessment (LCA) carried out recently. Support and ease of availability for Adani’s RMX is rapidly growing with its increasing footprint through 101+ plants across the nation.
• Specialist & Premium Cement Products: Benefit from Adani Cement’s wide range of specialist and premium cement brands, such as the flagship Ambuja Plus and ACC Concrete Plus, known for superior strength and durability. These high-performance products will help developers achieve greater structural quality and durability in their projects. It is noteworthy that around 30% of Adani Cement’s total trade sales come from its premium products.
• GRIHA-certified Green Products: Ambuja’s range of innovative and blended cement products, such as Ambuja Cement, Ambuja Plus, Ambuja Compocem, and Ambuja Kawach, and ACC’s Suraksha, Concrete Plus, Gold, F2R, and HPC, are listed in GRIHA’s (Green Rating for Integrated Habitat Assessment) green product catalogue. GRIHA is a national green rating system developed by the Ministry of New and Renewable Energy, Government of India.
• Advanced Additives & R&D Support: A broad array of advanced additives and admixtures developed through Adani Cement’s deep technical R&D capabilities will now be available for all CREDAI members. This includes proprietary innovations such as Alccofine – a micro fine mineral additive that enhances concrete strength and durability, among other cutting-edge products. Backed by Adani Cement’s state-of-the-art cement and concrete research facilities, these additives enable customised high-performance concrete solutions for complex construction challenges.
• Technical Services: Adani Cement’s technical services team – part of its Adani Certified Technology (ACT) initiative – will closely engage with CREDAI developers to provide material consultancy, quality assurance, and on-site support. Knowledge-sharing initiatives, including Concrete Talks on innovative materials and techniques, will help further build the capabilities of CREDAI’s member engineers and construction professionals. By combining Adani Cement’s material expertise with CREDAI’s execution capabilities, the partnership is expected to raise the bar for construction quality, safety, and sustainability in upcoming projects.

This announcement comes at a pivotal time when India’s cement consumption patterns are undergoing a significant shift. Traditionally, individual home builders (IHBs) in the retail segment constituted the largest share of cement usage, accounting for roughly 60% of demand. However, rapid urbanisation and infrastructural growth have fuelled a surge in B2B demand – large real estate developments and public infrastructure projects are now driving cement consumption at an unprecedented pace. Government-led construction of highways, metro systems, and smart cities, alongside private sector high-rise developments, is contributing to the ‘non-trade’ segment’s momentum, gradually balancing the once IHB-dominated market.

In particular, the rise of high-rise and skyscraper construction is reshaping urban skylines and construction requirements. With India’s urban population projected to exceed 600 million by 2030, vertical development through tall buildings is becoming essential to meet the demand for urban space. These projects require specialised cement formulations and technical know-how to ensure safety and longevity at greater heights. Adani Cement’s deep knowledge and technical expertise in high-strength concrete and new-age building materials positions it as an ideal partner to support such ambitious vertical developments. From supplying concrete optimised for pumping to great heights, to advising on mix designs for faster setting and higher load-bearing capacity, Adani Cement’s experience will help CREDAI developers confidently undertake taller and more complex projects.

CREDAI’s leadership echoed similar optimism, noting that the partnership will empower its member developers with assured supply and advanced know-how from one of India’s top cement producers. With Adani Cement now contributing nearly 30% of the cement used in India’s housing and infrastructure projects, the tie-up ensures that CREDAI builders can directly tap into this robust supply chain and expertise. Both Adani Cement and the industry body expressed confidence that this synergy will propel quality standards, encourage sustainable practices, and expedite project completion times across the real estate industry.

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GURUGRAM: Nissan Motor India (NMIPL) today announced the re-launch of its CBU Business with the All-New Nissan X-TRAIL in India, setting a new benchmark for premium urban SUVs in the country. The 4th generation of the Nissan X-TRAIL is a ‘Made in Japan’ exclusive for Nissan aficionados. It is designed and delivered for customers seeking a refined driving experience, appreciating Japanese craftsmanship in design and engineering along with high versatility in space utilization. Building upon Nissan’s two-decade-strong SUV DNA and legacy, the 4th-generation X-TRAIL is marking the re-start of Nissan’s CBU (Completely Built Unit) business in India which is led by a customer-first approach product strategy.

The Nissan X-TRAIL, currently available in over 150 markets, has achieved a remarkable milestone with over 7.8 million X-TRAILs sold worldwide since its inception.

Frank Torres, Divisional Vice President AMIEO Region Business Transformation & President of Nissan India Operations said, “India is one of the most promising markets for Nissan and thus, it holds a special place in Nissan’s global strategy. The official introduction of the All-New 4th Generation Nissan X-TRAIL marks the relaunch of the CBU business for the brand in India. This launch is a significant milestone in line with our new brand strategy for India and gives India access to the best of Nissan’s global SUV portfolio for the discerning Indian customer.”

Frank added,” We are also working towards introducing new models designed, developed, and manufactured in the country as a part of our commitment to India. In line with our global business plan named the ARC, we are set to introduce three new models into the Indian market during the ARC period 2024 to 2026 to optimize the potential in the country, on top of the X-TRAIL and the successful Magnite delivered for India and the world. This is part of our transformation to position Nissan in India as a significant player that has the pulse of our dynamic customers and stays ahead in catering to their ever-evolving needs.” 

Saurabh Vatsa, Managing Director, Nissan Motor India, commented, ” Our transformational journey in India for the brand has truly begun & the strategy is based on three key pillars – expanding CBU operations, strengthening our domestic market presence and expanding our reach in the export markets, making India operations future ready. The launch of the All-New 4th Generation Nissan X-TRAIL marks the beginning of our product offensive in India. The relaunch of our CBU business will provide flagship & aspirational Nissan SUVs like the X-TRAIL that embody sophistication, versatility, and a penchant for premium driving experience while adding to the resurgence of the Nissan brand in India.”

Saurabh added, “The X-TRAIL highlights our focus on bringing the best of Nissan’s global technologies and offerings to India, including the world’s first VC Turbo engine and XTRONIC CVT technology. This model sets a new benchmark for premium SUVs in India, symbolizing the best of Nissan technologies. I believe this capable, exciting, and All-New product offering will give a lot of confidence to our prospective customers who have been looking forward to aspirational global products and technologies from Nissan in India.”

World’s First Production Engine with Variable Compression technology launched in India

The All-New X-TRAIL is equipped with a 1.5L Petrol Variable Compression-Turbo mated to Nissan’s ALiS Mild Hybrid 2WD engine mated with 3^rd Gen XTRONIC CVT powertrain that produces 163ps and 300Nm of torque. This engine, the first of its kind globally, is a patented technology that offers power & fuel efficiency on demand.

This patented VC-Turbo engine varies compression ratio from 8:1 to 14:1 on demand to deliver the right balance of performance and fuel economy. In driving scenarios with relaxed driving and light acceleration, the engine switches to a high compression ratio for optimized fuel efficiency, while in situations where more performance is needed, the compression ratio is adjusted to a low level seamlessly. This adaptability ensures that this engine delivers the finest level of NVH than conventional ICE engines.

XTRONIC stepped Continuously Variable Transmission (CVT)

The new 3^rd generation XTRONIC CVT transmission offers better fuel economy and acceleration thanks to improvements including a twin oil pump system with the new electrical oil pump. The latest development in continuously variable transmissions (CVT), D-Step Logic Control is computer software that uses dynamic inputs like vehicle speed, accelerator pedal position, and application speed to determine the ideal gear ratio needed to provide smooth, constant acceleration.

For drivers, it feels very much like the automatic transmissions they are familiar with. D-step shift logic can hold a constant gear ratio like a conventional step-gear automatic transmission but adds the flexibility and smoothness of a CVT.

ALiS Mild Hybrid Technology debuts in India

The 12V ALiS (Advanced Lithium-ion battery System) mild hybrid system available on the new X-TRAIL provides torque assist, extended idle stop, quick restart and coasting stop, with improvements to both fuel economy and CO2 output. When decelerating, energy is recovered through regeneration and stored in the Lithium-ion battery. This charged energy is then supplied during Idling Stop, Coasting Stop, and Torque Assist.

When accelerating (between 20kph and 110kph), the energy in the Lithium-ion battery allows the motor to assist with an additional +6Nm torque for up to 20 seconds. This helps reduce the torque effort on the engine and improves fuel economy.

Modern, Muscular Styling

Both the exterior and interior of the new X-TRAIL reflect the spirit of the vehicle – versatile and adventurous. The exterior is refined and highlighted by signature Nissan design elements such as the floating roof and V-motion grille. The frontal aspect is framed by striking headlights that appear molded within the bodywork of the front bumper, with combined daytime running lights and indicators nestled along the shut-line of the hood.

From the side, the muscular wheel arches at the front and rear give the X-TRAIL presence on the road. The new X-TRAIL comes with the largest in-segment R20 diamond-cut alloy wheels. These larger diameter wheels fill the arches and further contribute to the robustness of the car on the road.

The shape of the C-pillar is reminiscent of a dolphin fin, bringing tension to the rear where the wrap-around lights complete the rear three-quarter aspect including a raindrop effect design. From behind, a taught horizontal line sits just above and below where the number plate is mounted, while split rear lights ensure a wide aperture for the trunk.

Key aerodynamic features include “3D” tyre deflectors in the lower front fascia, an active grille shutter to control air flow into the engine compartment, special A-pillar shaping, underbody covers to manage air flow under the vehicle and a unique ‘air curtain’ that precisely directs air flow from the front to the sides of the X-TRAIL.

Dynamic, Secure, and Enjoyable Driving Experience

The new X-TRAIL offers a rewarding driving experience – building on its reputation as a refined and comfortable drive, but enjoyable when the road turns twisty. Thanks to the CMF-C platform, the new X-TRAIL has an updated Macpherson strut set-up at the front. The rear suspension is an advanced multi-link set-up.

Premium Interior Ambience

The cabin of the new Nissan X-TRAIL sets a new segment standard for elevated ambiance, distinctive design, and enhanced usability.

Extensive attention has been paid to the ergonomic and tactile quality of the switch gear and buttons to give them a high-quality feel. Customer research has clearly shown customers’ preference for easy-to-use core functions, so the X-TRAIL has simple, intuitive heating/air-conditioning controls, as well as buttons that govern the central screen functions.

The top level of the floating center console layout features the e-shifter, the drive mode selector, and twin cup holders, as well as the 15w wireless charge pad for smartphones. There is a combined elbow rest for front-seat occupants, which has a ‘butterfly’ opening, to reveal a cavernous storage space for valuables. The side opening elements allow easy access to the storage area for rear-seat passengers, unlike a rear-hinged lid.

Underneath, the upper tier of the floating console is space utilized to the optimum for storage making it easier to store smaller items and creating optimal space usage because, in a family car, you can never have enough storage.

Flexibility & Versatility

Cabin design includes a 7-seat layout, 40/20/40 2^nd row seat split option with sliding & recline function, and 50:50 seat fold for 3^rd row & Floating Centre Console with butterfly opening.

Thanks to the packaging efficiency of the new X-Trial it is available with a third row of passenger accommodation. Individual seats in the third row effortlessly disappear into the floor and are designed to accommodate passengers up to 160cm in height.

The Panoramic Sunroof allows light to flood into the cabin, further enhancing the spacious and relaxing feel of the interior.

When the two rear seats are not in use, the resulting trunk space puts the X-TRAIL among the top-runners in its category for luggage space with a total capacity of 585 liters when 3^rd row is folded, thanks to a best-in-class floor length and also width between wheelhouses. The improvements in the utility of the luggage area make luggage loading easier and storing small items more convenient.

Safer & Efficient CMF-C platform

The new X-TRAIL is based on the Alliance CMF-C platform, which represents a state-of-the-art automotive structure and technology architecture.

In terms of construction, the body in white makes use of more lightweight material, as well as advanced stamping and welding techniques to increase strength but to also reduce weight. For the first time, the rear boot door on the X-TRAIL is now made of a composite material. The front and rear doors, front fenders, and hood are all now made of aluminum.

This contributes to refinement, ride comfort, and driving response typically found in a higher segment, plus exceptional safety in the event of an accident – as well as adding benefits to the car’s overall efficiency.

Other Safety features include 7 Airbags, Around View Monitor (AVM) with Moving object detection (MOD), Brake Limited Slip Differential (BLSD), Electronic Stability controls (ESC), Traction Control System (TCS), Hill-start Assist (HSA), ABS with EBD, Front & Rear Parking Sensors, and all 4 Wheel Disc Brakes.

Practical & Advanced Tech

The X-TRAIL embodies the essence of Japanese Premium Design & Craftsmanship, showcasing strong front fascia with a slimmer, sharper front headlamp design thanks to the use of LED technology. On the rear lights, there are also graduated `raindrop’ grain optics which create a 3D lighting effect and give a futuristic impression.

At the heart of the X-TRAIL’s technology suite is a high-definition, fully electronic 31.2cm TFT multi-information screen that offers a choice of configurable layouts to display vehicle information, all controlled from a new tactile dial switch on the steering wheel. A traditional “Kiriko” cut glass texture is also added to the TFT’s digital background – a nod to Nissan’s Japanese DNA and Design Philosophy.

X-TRAIL also features a 20.3cm HD touch screen with Android Auto & Apple CarPlay connectivity options, Around View Monitor with Moving Object Detection, wireless charger.

The inclusion of an E-shifter, Electronic Parking Brake, Auto Hold, Drive Modes, Paddle Shifter, Dual Zone AC, Cruise Control, and Auto Fold ORVM (Outside Rear-View Mirrors), ensures a comfortable journey.

The X-TRAIL is available in three elegant color options: Champagne Silver, Pearl White, and Diamond Black. Bookings will start on 26 July across Nissan dealerships, nationwide, and on Nissan’s website https://book.Nissan.in/.

The booking amount for the X-TRAIL is INR 100,000 and deliveries of the vehicle are to commence in August 2024.

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Speaking on the findings of this edition of the MSME Pulse, Sivasubramanian Ramann, Chairman and Managing Director, of SIDBI, said: “Lending to the MSME sector continued in H1:FY2024, despite the conclusion of the Emergency Credit Line Guarantee Scheme (ECLGS) scheme, indicating underlying growth momentum of the sector. Technology is aiding in lending to the MSME sector. Facilitating wider adoption of online loan applications, financial management tools, and digital payment platforms along with the utilization of robust analytics, can enhance the lending to the MSMEs and help fortify India’s businesses for sustained growth. SIDBI is working on the above lines and is leveraging technology, utilizing the Digital Public Infrastructure of the Government of India, to augment credit flow to the sector with faster turnaround.”

In the July-September 2023 quarter, the total value of new MSME credit originations was INR 243K Crores, with Small segment enterprises accounting for the largest share at 42%. Sustained credit supply has enabled substantial portfolio growth of 11% amounting to INR 28.2 Lakh Crores across 80 Lakh MSME entities­ in the quarter under review.

During this period, overall balance-level delinquencies, measured as 90 days past due to 720 days past due and those reported as ‘sub-standard’, have improved and stood at 2.3%.

“MSME portfolio performance improved across all borrower segments as delinquency rates declined. In the quarter ending September 2023, we saw the lowest delinquency rate in the last two years. With promising economic growth prospects reflected through strong demand, stable portfolio growth, and improved credit performance, now is a good time for lenders to expand their MSME lending book. The sectoral study covered in this MSME Pulse report showcases the unique nuances of each sector within the MSME segment. The wide spectrum of occupations covered by MSMEs has the potential of catalyzing social development through economic empowerment,” added Rajesh Kumar, Managing Director and CEO, of TransUnion CIBIL.

The MSME portfolio excludes ~ ₹ 2.5 lakh crores of default cases beyond 720 days past due (DPD) /loss /doubtful category. The delinquency rate definition excludes legacy accounts with DPD beyond 720 days or reported as loss/doubtful

By building an online lending journey with analytical and objective credit risk assessment tools like FIT Rank, lenders can achieve improved operational efficiencies and reduce turnaround times significantly.

Rapid credit expansion across semi-urban and rural geographies

In the July-September 2023 quarter, 46% of MSME originations were in semi-urban and rural regions. Almost half (49%) of the Micro2 segment’s originations came from the semi-urban and rural areas, whereas 39% of originations in the Small segment came from these regions.

• Micro Exposure up to INR 1 Cr; Small: Exposure between INR 1 Cr and INR 10 crs; Medium Exposure between INR 10 crs and INR 50 crs
• Medium Risk: CMR 4-6 (Share of Borrowers)
• The risk percentage is based on the origination data where the risk score is available.

One of the key factors contributing to this expansion is the improvement in credit profiles of MSMEs – the share of high-risk MSMEs (CMR 7-10) has reduced to 13% in the July-September 2023 quarter from 15% during the same period the previous year. Medium risk (CMR 4-6) continues to have a high share with 55% of MSMEs in this risk segment. 

Analysis across the states shows that originations from the large states with Maharashtra, Gujarat, Delhi, Tamil Nadu, and Uttar Pradesh continue to be high, accounting for 47.2% of the origination value. There is also a higher growth rate especially in Uttar Pradesh and Tamil Nadu in the quarter ending Sep 2023.

These states also account for approximately 42% of New-to-Credit (NTC) originations in the Micro MSME segment, further driving the credit inclusion initiative. Within the Micro MSME segment, Maharashtra has a high share in the low-ticket-sized Very Small segment and Micro1 segment, while Gujarat has a high share in the Micro 2 segment.

The manufacturing sector accounts for the highest credit originations

As per the latest information released by the Ministry of Statistics and Programme Implementation in December 2023, output in MSME manufacturing accounted for 40.83% of output in all India manufacturing during the year 2021-22. This is also reflected in TransUnion CIBIL Commercial Bureau data where the Manufacturing sector accounts for 37% of value originated and has the largest share, followed by the ‘Trades’ sector with a 28% share. Professional Services and Other Sectors together account for the remaining 35% share (of the data considered for this report).

Textiles is the highest contributing sub-sector within Manufacturing sector originations. The majority of originations within sub-sectors are led by the Medium segment (10 Crores to 50 Crores) and catered for by private banks. The geographical distribution of originations across sub-sectors is concentrated in three top-contributing states: Gujarat, Tamil Nadu, and Maharashtra. While the manufacturing sector accounts for 37% of origination value it has only 25% share of the volumes originated. However, the manufacturing sector experienced an increased share in originations by value within the Micro segment compared to the previous year. The ‘Trade’ sector accounts for the highest share of origination volumes with 39% of loans originating; 36% of these disbursements are from NTC MSMEs.

As the borrower profile and credit behavior of each sector is different, these borrowers’ credit performance is also differently influenced by intrinsic sectoral impact. Leveraging data and analytics to understand borrower behavior is essential to continue sustainable growth across sectors.  The core advantage of sector-wide growth is the vast geographical expanse it covers, spreading through areas where urbanization and multiple employment opportunities and development are essential.

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With a development potential of over 1.7 million square feet, SPRE reaffirms its dedication to Pune’s real estate market with these two projects. Wilderness, the first low-density luxury residential project, sets a new standard for exquisite living. Joyville Celestia, on the other hand, prioritizes the holistic well-being of its residents, offering over 40 wellness-inspired amenities.

SP Kingstown is strategically situated along the Pune-Solapur Highway, enjoying seamless connectivity to prominent areas like Hadapsar, Magarpatta IT Park, Amanora Park, and SP Infocity. Educational institutes, hospitals, malls, and commercial hubs are near the project. Additionally, proposed infrastructural developments, including a four-tier double-decker flyover, a ring road, and a metro line, are set to elevate the region’s accessibility and desirability.

Speaking on the launch, Mr. Venkatesh Gopalakrishnan, Director, Group Promoter’s Office, MD & CEO of Shapoorji Pallonji Real Estate, said, “We are thrilled to unveil SP Kingstown, a monumental urban development project that epitomizes our commitment to redefining modern living. With the launch of Wildernest and Joyville Celestia, we aim to provide residents with a unique and enchanting living experience that provides them with various options, from aspirational to luxury. SP Kingstown represents our enduring dedication to Pune’s real estate landscape, and we anticipate a remarkable revenue potential close to Rs.1500 crore from these endeavors.“

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