June, 2024 - Business News Week

business

Grand Shopsy Mela Sparks Nationwide Joy and Growth as Mid-Year Unfolds

Jun 28, 2024 by Gayathri Pariti 0 Comments #Bengaluru, #Grand Shopsy Mela, #Grand Shopsy Mela Sparks Nationwide Joy, #India’s fastest-growing hyper-value e-commerce platform, #Mid-Year Unfolds, #Prathyusha Agarwal, #Shopsy, #Shopsy by Flipkart

Bengaluru – June 28, 2024: Shopsy by Flipkart, India’s fastest-growing hyper-value e-commerce platform, recently concluded the fifth edition of its much-awaited shopping carnival—the Grand Shopsy Mela. The six-day event, over June 11-16, witnessed a 50% growth in customers on Shopsy, out of which 43% were first-time e-commerce shoppers. During the sale, Shopsy observed record-breaking participation from Bharat, with sellers from across the country coming together to serve millions of customers.

Addressing the Diverse Needs of Tier 2 and Tier 3 Customers

To address the needs of an ever-evolving market of value-conscious consumers, the Grand Shopsy Mela brought in an array of offerings for all needs in an Indian household, offering over 16 crore products with free delivery. Customers in tier 2 and tier 3 markets shopped enthusiastically for fashion, household items, kid’s collections, and budget mobiles driving maximum growth. Shorts, sports shoes, and flip-flops were top-selling products for men, and ethnic sets, sarees, and earrings for women. Lucknow, Patna, Nagpur, Kanpur, and Visakhapatnam contributed the most towards the sale. Increased customer demand was observed in tier 2 and tier 3 markets such as Cuttack, Guwahati, Bhagalpur, and Bankura, with 43% of new users being first-time shoppers and over 60% originating from Tier 3+ cities.

Exciting Deals and Ease of shopping Delight Customers

To add to customers’ delight, exciting deals were offered at every hour. These included Jhatpat deals, Price Crash deals, and Grand Loot hours which were live with attractive prices across categories – allowing customers to avail top offers like trendy t-shirts starting Rs. 79/-, attractive kurtis from Rs. 80/-, and men’s shoes from Rs. 129/-. The shopping carnival also presented great deals for new users including a first-time purchase offer coupon. This helped in bringing in new users to the platform. Beyond the exciting offers, Shopsy also enhanced the shopping experience on its platform and app through innovation in technology including voice search, image search, and AI chatbot. The platform offered cash on delivery and free delivery to attract customers and bring ease of ordering.

Sellers Thrive by Meeting Surging Demand

This season, many sellers experienced a 2x-3x surge in growth during the sale, with sellers from cities like Rajkot, Ghaziabad, Panipat, and Jaipur being top contributors. Household category sellers emerged as the top sellers, with the demand for household products being consistently high and driving significant revenue.

Prathyusha Agarwal, Business Head, Shopsy, said, “We are elated with the continuous success of the Grand Shopsy Mela, our biggest sale event. Every year it has gone bigger and we have seen customers looking forward to it. This also reflects the trust customers place in us as the ultimate hyper value shopping destination. As we progress in our mission to deliver exceptional value, we remain committed to end-to-end innovation—wide selection to seamless browsing experience. Through thorough market analysis, we will continue to innovate and adapt to changing consumer preferences, ensuring our growth trajectory remains strong.”

business

Taiwan Excellence to Showcase Groundbreaking Technologies at Taiwan Expo India 2024

Jun 28, 2024 by Gayathri Pariti 0 Comments #Groundbreaking Technologies, #Mr. James C.F. Huang, #Mumbai, #TAITRA, #Taiwan Excellence, #Taiwan Expo, #Taiwan Expo India 2024

Mumbai 28th June 2024 – Taiwan Excellence, renowned for its pioneering innovations and advanced technology across various sectors, will set up a pavilion at Taiwan Expo India 2024 for the 7th consecutive year. The expo, set to take place from July 8th to 10th at Bharat Mandapam (Pragati Maidan) in Delhi, is expected to be a major event.

Approved KV TAIWAN EXPO 2024

Taiwan Excellence aims to increase awareness of Taiwanese smart solutions, providing greater exposure and networking opportunities for the award-winning brands, and introducing them to both Indian and global media and buyers. This year, the pavilion will be inaugurated by Mr. James C.F. Huang, Chairman of TAITRA, and Shakti Mohan, an Indian dancer, choreographer, and television personality. The core focus for this year’s pavilion includes Smart Healthcare Technology for Smart Home and Living, Advanced Gadgets, ICT, and Industrial Products, offering an exciting and forward-looking showcase of innovations in these fields.

In this edition, 24 brands will showcase groundbreaking products, many debuting for the first time in India, across diverse industries. The brands are ADVANTECH, AVer, CHIMEI MOTOR, CyberPower, EverFocus, Everlight Chemical, CYBO, GIGABYTE, GW Instek, HCP, Plimates, Hua-Jie, KANFON, Lanner, mbranfiltra, Mean Well, MicroBase, MSI, MODERNSOLID, JUSTIME, Transcend, Waterson, Wellell, and ZYXEL.

Some of the HERO Products from these brands include CYBO Run, GIGABYTE’s Z790 AERO G Motherboard, KANFON’s Maglev Fiber Laser Cutting Machine, mbranfiltra’s Pocket Water Filter, and Plimates’ Energy Saving Paint, amongst others.

Taiwan Expo, an annual event organized by the International Trade Administration MOEA in collaboration with the Taiwan External Trade Development Council (TAITRA), aims to strengthen the enduring ties between India and Taiwan. In 2023, two-way trade between India and Taiwan was worth $8.2 billion, with Taiwan’s exports to India reaching $6 billion, marking a 13% growth and making India Taiwan’s 12th largest export market.

Apart from business objectives, Taiwan Excellence is also actively involved in ESG campaigns as part of its corporate social responsibility. It will organize a unique sustainable activity at the pavilion, “Pedal for Progress,” to promote sustainability. This event will allow visitors to pedal towards distance goals, culminating in a tree plantation drive to reduce the carbon footprint. Taiwan Excellence also supports the “Go Green with Taiwan” global campaign, inviting creative proposals that combine Taiwanese sustainable green products with innovative solutions. The top three proposals will each receive a USD 20,000 prize, and submissions are open until August 31, 2024, at Go Green with Taiwan.

As Taiwan Excellence celebrates its 7th year at Taiwan Expo India, it continues to forge new paths in innovation and technology, further solidifying the robust ties between India and Taiwan. This participation is set to foster greater collaboration and mutual growth, creating new opportunities for both nations in the years to come.

business

Perspective on Budget by Sandeep Ahuja, CEO, Atmosphere living

Jun 28, 2024 by Gayathri Pariti 0 Comments #Atmosphere living, #FSI, #GST rates, #Indian real estate sector, #Perspective on Budget by Sandeep Ahuja, #Pradhan Mantri Awas Yojana, #The real estate sector

The real estate sector plays a significant role in the nation’s economic growth. The real estate luxury sector is growing through leaps and bounds, however a certain change, and policies can help to ensure sustainable growth, streamline regulatory process and give it a robust boast. Government can ease foreign direct investment in the luxury real estate sector which ultimately would led an increase in interest from international investors to create a space for a funding ecosystem that fuels growth and innovation. The GST rates on building supplies and services should also be rationalized, as this will lower development costs overall and promote greater investment in new projects. Extending incentives for affordable housing is another important goal. Even if the Pradhan Mantri Awas Yojana (PMAY) has given momentum, more improvements and a later deadline could guarantee sustained progress. For, all metro cities government can look into possibility of relaxation in floor space index (FSI) norms. This anticipation stems from the industry’s call for regulatory measures that could pave the way for more expansive luxury apartment offerings in Mumbai.

Therefore, the sector hopes that the upcoming budget show transformative measures that will invigorate the Indian real estate sector.

business

On the Quiet Road to Redefining Luxury: White Lotus Group Marks 10 Years in Bespoke Luxury Real Estate

Jun 28, 2024 by Gayathri Pariti 0 Comments #Bengaluru's bespoke luxury real estate space, #Bespoke Luxury Real Estate, #IIT Madras, #Pavan Kumar, #Redefining Luxury, #White Lotus Group

Bengaluru, June 28, 2024: White Lotus Group, a leading name in Bengaluru’s bespoke luxury real estate space, celebrates its 10th anniversary. Over the past decade, under the leadership of IIT alumnus Pavan Kumar, the company has quietly yet significantly transformed Bengaluru’s residential landscape with its unique concept of ‘personal sanctuaries’. From a single address, Aravindaksa in 2014, White Lotus has grown to a portfolio exceeding 6 developments. Its meticulously designed spaces transcend traditional living, providing residents with soulful, rare, timeless, and thoughtfully crafted bespoke homes. This milestone anniversary aligns with the company’s recent expansion into the luxury villa segment, securing 1 million square feet in projects and a funding of Rs. 150 crores from Dubai-based Luxe Port.

A space we call home

With an asset-light model, White Lotus successfully sold out its developments—Aravindaksa, Kalpavriksha, Amaranta, Ohana, Anora and Tamara—located in Bengaluru’s prime areas. Remarkably, these sales were achieved solely through word-of-mouth

Pavan Kumar, an alumnus of IIT Madras, is a first-generation entrepreneur with a passion for design. Under his adept leadership, White Lotus has become a zero-debt, profitable real estate venture. Rising from a middle-class family with no legacy wealth, Pavan successfully identified a niche in the market, addressing the unique needs of India’s high-net-worth individuals (HNIs). His primary triumph has been bridging a crucial gap in the market for authentic luxury homes. By recognising the rising demand for personalised, smart, sustainable, and design-centric living spaces among discerning HNIs, White Lotus Group has redefined luxury living, offering homes that seamlessly blend modern luxury with timeless tradition.

“10 years ago, White Lotus embarked on a mission to reshape luxury living. We envisioned homes that transcended mere bricks and mortar – personal sanctuaries rooted in the principles of conscious living and harmony. Today, I stand humbled by the dedication of our team, the trust of our homeowners, and the foresight of our investors. Together, we have built a legacy of bespoke living experiences that resonate deeply with discerning homeowners. As we celebrate this milestone, I am grateful and at the same time excited for the next chapter. Here’s to a future where White Lotus continues to push boundaries and ultimately make the brand synonymous with bespoke luxury living for decades to come.” – Pavan Kumar, Founder and CEO, White Lotus Group.

Looking ahead, White Lotus has set an ambitious revenue target for the next financial year and is actively hiring talent across all business verticals to support its plans to develop over 1 million square feet of bespoke luxury villa spaces in Bengaluru. These stunning homes, slated for launch in this year, will further solidify White Lotus Group’s position as a leader in the luxury real estate market. White Lotus also has its sights set on expanding beyond Bengaluru, aiming to enter the Hyderabad market. All while, the company remains steadfast in its core values of innovation, sustainability, and end-to-end customer-centricity, shaping the future of bespoke luxury real estate across India.

The largest student entrepreneurship summit in India hosted in Hyderabad concluded-08

news

The Largest Student Entrepreneurship Summit In Hyderabad: Paving the Way for Future Leaders

Jun 28, 2024 by Sujata 0 Comments #25th anniversary of TiE Hyderabad, #a Maker Faire, #Business leaders, #competition tracks, #Education, #Entrepreneurship, #global competition, #global non-profit organization, #IIIT Hyderabad, #industry tours, #keynotes from renowned entrepreneurs, #masterclasses, #mentoring, #Murali Bukkapatnam, #networking, #next generation of entrepreneurs., #non-profit organization, #Phanindra Sama, #redBus, #sign language, #Silicon Valley, #Sri Charan Lakkaraju, #startup showcases, #StudentTribe, #The Indus Entrepreneurs (TiE), #The Indus Entrepreneurs (TiE) from June 19 to 21st., #TiE Global Board of Trustees, #TiE Hyderabad, #TiE’s TYE Global Conference 2024:, #TYE Global Conference 2024., #V Sign, #Young Entrepreneurs, #Young Entrepreneurs (TYE) Global Conference 2024, #youth entrepreneurship

Hyderabad, June 28th, 2024…..The biggest student entrepreneurial conference of its kind in India, TiE’s TYE Global Conference 2024: Empowering Young Entrepreneurs, held at IIIT-Hyderabad, concluded in Hyderabad. The three-day Young Entrepreneurs (TYE) Global Conference 2024 was hosted by The Indus Entrepreneurs (TiE) from June 19 to 21st. Over 300 Students Across India Participated in the TYE Global Conference 2024.

Disclosing this in a press note issued in the city today, TiE Hyderabad said, the conference was especially notable as it coincided with the 25th anniversary of TiE Hyderabad. The conference also marked the first-ever dual semi-finals held in both Hyderabad and Silicon Valley, underscoring TYE’s global commitment to youth entrepreneurship.

The Conference was aimed to inspire and instill the spirit of entrepreneurship among students in an era where entrepreneurship is becoming increasingly prominent. With over 582 million entrepreneurs globally and rapid growth expected in the coming years, this initiative is more relevant than ever.

The conference provided students from classes 9 to 12 with unparalleled opportunities to network with accomplished business leaders and aspiring young entrepreneurs from across India.

The event featured a rich array of activities, including keynotes from renowned entrepreneurs, masterclasses, competition tracks, a Maker Faire, startup showcases, industry tours, and more. Over 25 teams from around the world competed in the global competition, who were winners earlier in the competitions held in their respective regions, demonstrating their innovative ideas and entrepreneurial spirit

Accomplished business leaders from across the globe, such as Phanindra Sama, Founder of redBus, Murali Bukkapatnam, Global Vice Chairman of TiE Global Board of Trustees, Sri Charan Lakkaraju, Founder/CEO of StudentTribe, attended the event to provide insightful keynotes relating to entrepreneurship.

A notable achievement was by a team from India called V Sign, which developed gloves that translate sign language into speech and won the runner-up position in the competition.

About TiE

The Indus Entrepreneurs (TiE) is a global non-profit organization dedicated to fostering entrepreneurship through mentoring, networking, and education. TiE Hyderabad, a chapter of TiE, has been instrumental in nurturing entrepreneurial talent and fostering innovation in the region for the past 25 years.

TiE Hyderabad’s dedication to fostering innovation and entrepreneurship has set a new standard for student conferences, providing invaluable experiences and inspiration for the next generation of entrepreneurs.

news

Turkish Airlines Named “Most Sustainable Flag Carrier Airline” in World Finance’s Sustainability Awards 2024

Jun 27, 2024 by Gayathri Pariti 0 Comments #Bengaluru, #Most Sustainable Flag Carrier Airline, #Prof. Ahmet Bolat, #the national flag carrier of Türkiye, #Turkish Airlines, #World Finance’s Sustainability Awards 2024

Bengaluru, 27 June, 2024: Turkish Airlines, the national flag carrier of Türkiye, continues to set an example in the aviation sector with its pioneering sustainability initiatives. Once again, Turkish Airlines has been honored with the “Most Sustainable Flag Carrier Airline” award by World Finance, marking the prestigious recognition for the third consecutive year.

Amid the significant challenges posed by the climate crisis to the aviation industry, Turkish Airlines stands out with its voluntary carbon offset platform CO2mission, use of Sustainable Aviation Fuel (SAF), sustainable in-flight products, waste management practices, and the sustainable travel experience it offers to its passengers.

Commenting on the award, Turkish Airlines Chairman of the Board and Executive Committee, Prof. Ahmet Bolat, said: “Receiving the Most Sustainable Flag Carrier Airline award for the third-year running is a testament to our dedication to sustainability and environmental stewardship. Turkish Airlines has set a strategic goal to become one of the world’s top 3 airlines in terms of digitalization. In line with our commitment to becoming a Carbon-Neutral Airline by 2050, we incorporated the use of Sustainable Aviation Fuel (SAF) into our climate change mitigation plans in 2022, and we further expanded our use of SAF to new routes in 2023. We will continue to add new routes to our SAF-powered network and pursue our commitment to sustainable practices throughout our operations.”

Since 2008, Turkish Airlines has conducted over 100 operational optimization projects to reduce its carbon footprint. In 2023, the airline achieved significant successes in fuel savings and reducing greenhouse gas emissions.

The World Finance Sustainability Awards are recognized as a significant reference by global finance and business circles and are awarded to organizations that showcase best practices in the environmental, economic, and social dimensions of sustainability. Since 2008, World Finance has aimed to identify the best institutions in various sectors based on evaluations by expert jury members.

news

Shivraj Singh Chouhan Attends Emergency Anniversary Conclave

Jun 27, 2024 by Gayathri Pariti 0 Comments #ABVP in 1975, #Emergency Anniversary Conclave, #India International Center, #Jatinder Kumar, #Jayaprakash Narayan, #Narendra Modi, #New Delhi, #Reflecting on India’s Dark Days, #Shivraj Singh Chouhan

New Delhi, June 27, 2024: “Those who claim to safeguard the Constitution and parade it around have no right to touch it after what they did with the Constitution in 1975,” said Shivraj Singh Chouhan, Union Minister of Agriculture and Rural Development, as he graced the conclave titled “Reflecting on India’s Dark Days,” organised by the Centre for Narendra Modi Studies (NaMo Kendra- CNMS) in collaboration with Mahamana Malaviya Mission and Pragya Sansthan at the India International Center, New Delhi, to commemorate the 49th anniversary of the Emergency.

Union Minister Shivraj Singh Chouhan graces Conclave on 49 Anniversary Emergency

In his address, Chouhan highlighted the resilience of Indian democracy and the valuable lessons learned from this dark chapter in history. “Dictatorship runs in Congress’ DNA. They wanted autocracy. Three judges were demoted and one judge was promoted to pass their (Congress’) rulings. The elections were cancelled and Indira Gandhi ji won through the misuse of government and the administration,” Chouhan said.

While Sharing his personal experiences, he added, “During the Emergency, I was also arrested and sent to jail and beaten with sticks. I was only 17 years old at that time. I was beaten ruthlessly while in custody, and I still feel the effects of that torture. The physical and emotional scars from that period remain with me to this day.” He also recounted a deeply personal loss, saying, “One of the most painful memories for me is that when my grandmother died, she couldn’t see me because I was imprisoned during the Emergency.”

The conclave began with a tribute to Jayaprakash Narayan, followed by inaugural remarks from Professor Jasim Mohammad, Chairman of the Centre for Narendra Modi Studies who emphasized the necessity of educating the youth about the Emergency and its long-term effects on the nation. Professor Jasim Mohammad informed that the Centre for Narendra Modi Studies will continue to organize conferences, workshops, seminars, and symposiums on the theme “Dark Emergency” throughout 2024-2025 in schools, colleges, and universities.

Guest of Honour Jatinder Kumar from the USA, who played a significant role abroad in conveying the plight of the Indian people to world leaders during the Emergency, delivered an impactful address. “During the Emergency, RSS members worked tirelessly to highlight the trauma and suffering faced by the people of India, informed other country leaders about the atrocities being committed by the Indira Gandhi Government,” he said. Jatinder Kumar emphasized, “RSS is the organization that saved democracy in India. They fought relentlessly for democratic values and stood firmly against the Emergency,”.

Shri Ram Bahadur Rai, in his presidential address, stated, “Imposing the Emergency was a murder of democracy and it was completely unnecessary. The actions taken during that period were unjustifiable.” He urged people to pursue legal action against the Indira Gandhi family for their actions during that dark period, stating, “In today’s times, people should file cases against the Indira Gandhi family in the Supreme Court for what they did during the Emergency period.”

Rambahadur Rai also recalled his personal experience, noting that when he was arrested, newspapers were restricted in prisons. He stated, “We informed our families about this, and when a dedicated worker Narendra Modi heard about the restriction of newspapers, he personally ensured that all newspapers were sent to us in prison, which kept us informed about the outside world during that challenging period.”

The conclave also featured a presentation of books and mementos to the esteemed guests, acknowledging their valuable contributions to the discourse on the Emergency.

Other distinguished guests of honour at the conclave including Prof. Raj Kumar Bhatia, former President of ABVP in 1975, who shared his experiences of student activism during the Emergency, emphasizing the role of youth in defending democracy, and Rajendra Agrawal, former Member of Parliament, who spoke about the need for collective memory and education on historical events like the Emergency to prevent the repetition of such dark times and to strengthen democratic institutions.

Education

How are some of India’s leading legacy boarding schools, raising global citizens of tomorrow?

Jun 27, 2024 by Sujata 0 Comments #AI, #Ajay Singh, #Chat GPT

By Ajay Singh – School Principal – The Scindia School

Education has rapidly evolved over the years to keep pace with the changing landscape for career opportunities and technological advancements. With AI and Chat GPT taking over, there is a need to raise creative thinkers who can pivot on short notice and adapt to change while staying true to their core. Legacy boarding schools in India such as The Scindia School, Gwalior, Mayo College, Ajmer and Doon School, Dehradun offer the best in global pedagogy to raise children who are modern in their approach and yet grounded and rooted in their values.

Offering the best in traditional and modern education – These legacy schools such as Mayo College and The Scindia School offer over a century of education experience and a truly remarkable history that lays the foundation for the school’s ethos and value system. While being rooted in tradition, they have also rapidly evolved to introduce the most advanced teaching methodologies, cutting edge technology and the latest amenities to create a curriculum that offers the best in global and traditional education.

Value based education – These beacons of education are steeped in a glorious legacy built on value-based education. Education is rarely limited to the classrooms and students. It is about equipping children with life skills and a moral compass that will hold them steady no matter how rapidly the world around them changes. It is no longer enough to simply learn concepts but the ability to adapt them to changing scenarios is the key to success. There is a certain tenacity and fearlessness that defines the students studying at these leading boarding schools. They view change as an opportunity and not a hurdle. They view technology simply as an aide and hence aren’t afraid to be out-run in a world that is rapidly changing. They can adapt to change while being guided by the moral compass of the value system that is deeply imbedded in their hearts and minds. Independent decision making is part of their daily routine as they navigate from their dorm rooms to classrooms without the over-protective gaze of their parents. They learn to think on their feet while staying true to their inner core. These are essential traits to emerge as effective leaders and change makers of tomorrow.

Raising resilient kids who can brave the storms the future might hold – Each day is a new learning experience for these students. They learn to navigate through dorms and classrooms on their own and embrace every victory and loss with the same grace and strength without the need of a constant assurance from their parents. From negotiating with one’s roommates for that extra pack of biscuits, to learning conflict resolution at the soccer field or simply coping with failure, these children learn to navigate through some of the most character defining moments with a certain poise and grace that defines the strong value system imparted at these legacy boarding school.

Making mindfulness a way of life – As stress becomes an unavoidable part of the new age hustle culture, the ability to take a pause, will help these kids maintain their calm and composure through tough times. While mindfulness has suddenly become the buzzword across global education corridors these legacy schools have been following it as a way of life since their inception. A few quiet moments of reflection practiced every day at sunset, amidst the abundance of nature, while surrounded by one’s classmates plays an integral role in transforming young boys into calm, compassionate and kind young men.

Sustainability practices to raise kids who are aware of their responsibility towards creating a better and greener tomorrow – The environment where we study plays an important role in our overall wellness and is known to stimulate better knowledge retention, decision making, and inculcate compassion and love for nature. Sustainability becomes a way of life when we live amidst nature and learn to respect it in its true spirit. At The Scindia School we have undertaken a Fort Biosphere project which includes bringing back the indigenous plants for better ecological balance and building channels across our lakes for rain water harvesting. We aspire to be a water positive school that can provide water to the city of Gwalior if ever required. As a zero-waste school our students rejoice in every drop in the daily food wastage monitor, and proudly showcase the artwork created from waste paper and metal scraps! Besides the Fort Biosphere serves as a ‘living lab’ offering botany lessons that will remain etched in every child’s mind and heart long after they graduate.

These legacy boarding schools in India with years of glorious success stories, play an important role in shaping a child’s overall character, beyond the classroom. Thus, making them the preferred choice for parents who seek educational institutions that would help nurture their children into global citizens of tomorrow.

business

Truecaller Partners with HDFC ERGO to Launch Fraud Insurance

Jun 27, 2024 by Sujata 0 Comments #Fraud Insurance, #HDFC ERGO, #Truecaller

27th June 2024, Bangalore, India: Truecaller, the world’s leading global communications platform, in collaboration with HDFC ERGO, India’s leading general insurance Company, is proud to announce the launch of Fraud Insurance, an initiative aimed at providing enhanced protection to consumers against digital communication frauds in India.

A recent report by the Indian Cyber Crime Coordination Centre revealed that digital financial frauds accounted for a staggering INR 1.25 lakh crore over the last three years. With the rising cases of cyber fraud, this innovative insurance offering underscores Truecaller’s unwavering commitment to combating fraud and ensuring user protection through advanced app features – before, during and after mobile communication.

The Fraud Insurance product will provide coverage up to INR 10,000 to Android and iOS users across India. The product is available to yearly premium subscribers of Truecaller and all existing customers can avail this protection for free under their existing plan. To ensure a smooth and hassle-free experience for all users, the fraud coverage is seamlessly integrated into the Truecaller app, and is activated once the user opts in for the insurance option.

The insurance plan requires no additional paperwork and one can enable it instantly through the Truecaller app. The new offering will enhance user experience by providing all round protection from the time of receiving a call, during and after communication with the help of AI spam blocking, AI Assistant and call scanner and Fraud Insurance to complete the loop.

Speaking on the launch of Truecaller’s Fraud Insurance, Rishit Jhunjhunwala, Chief Product Officer and MD, India, Truecaller stated, “We’re thrilled to launch this innovative insurance offering as part of our ongoing commitment to providing comprehensive solutions that prioritize user security and trust. With the launch of Fraud Insurance, we’re not just introducing a feature; we’re reinforcing our dedication to safeguarding our community against the ever-evolving threats of digital fraud, and empowering them with the peace of mind they deserve in today’s complex digital landscape. As we continue to innovate and adapt to the changing landscape of digital communication, Truecaller remains steadfast in our promise to empower users with the tools they need to stay safe online.”

Vishal Sikand, Joint President, Commercial Lines, HDFC ERGO General Insurance, said, “The pandemic has accelerated the use of digital mobile payment in the country. While it brings convenience, it also leads to an increase in digital frauds in the country. We are delighted to partner with Truecaller as it underscores our commitment to leverage cutting-edge technology while offering customer-centric innovations. Our comprehensive insurance offering, coupled with Truecaller’s extensive user base will propel financial inclusion along with protection from digital communications fraud in the country.”

Archive: June 28, 2024