Tenth edition of the Murugappa Madras

Tenth edition of the Murugappa Madras Quotient Quiz 2020 goes online

The tenth edition of the Murugappa Madras Quotient Quiz was conducted online this year and over 1250 participants tested their quizzing skills. Unlike the previous editions that were meant exclusively for school children, this year the quiz was open to all above the age of 7 years. Hundred top scorers from the first round competed in a live round for a keenly contested final. R Jayakanthan emerged as the winner of the Murugappa Madras Quotient Quiz 2020, while RV Prasad was the first runner-up and Ramkumar, the second runner-up. The top ten winners were awarded Amazon gift vouchers by Murugappa Group.

The quiz also witnessed participation from across the world, thus breaking geographical boundaries and bringing Madras closer to all. This year, a few interesting categories of winners were also introduced, like the Youngest Top Scorer, the Oldest Top Scorer, the Whackiest Nick Name and Farthest from Madras Top Scorer  to whom prizes will be given away.

Hosted by quizmaster Dr Navin Jayakumar, the theme for this year's edition was "Curiosity and Love for Namma Madras city" and as always, the quiz encapsulated ‘Madras Past, Madras Present and Madras Forever’ in the most fun and friendly way!  The participants were quizzed on the history and culture of Madras along with a few questions about the Murugappa Group.

Those who could not participate in today’s quiz can still have the experience of testing their Madras Quotient - the questions from the event will soon be put up on the Murugappa Group’s Facebook page as a mock challenge for those who want to play and learn more about the city.

The Murugappa Madras Quotient Quiz is organised by the Murugappa Group as part of the Madras Week celebrations, every year. The first edition was organised in 2011, and since then, the quiz has gained popularity among the quizzing community of schools and is a much-awaited event every year.

Chola issues unlisted NCDs in tenors

Chola issues unlisted NCDs in tenors 

3-5 years for INR 1056.90 crore to ADB

Cholamandalam Investment and Finance Company Limited (Chola), a leading financial services provider in India, today announced that it has issued unlisted Non-Convertible Debentures (NCDs) in tenors of 3 to 5 years for INR 1056.90 crore (USD 150 Million) to Asian Development Bank (ADB) .

ADB provides medium and longer term financing to banks, NBFCs and FIs, with focus on promoting financial inclusion in lesser developed regions, especially for undeserved and lower income customer segments towards support for creation of physical income-generating assets apart from encouraging greater gender equality and participation.

Chola – with its core strengths and solid track record, is focused on lending to the Small Road Transport Operators (SRTO) and SME borrowers, and has a pan India presence.  The inroads made by Chola in Tier IV and Tier V towns in lesser penetrated regions augurs well to meet the objectives of financial inclusion of ADB to the undeserved and lower income customer segments.  Chola’s focus on funding productive assets rather than for consumptive purposes also fulfills the criteria of ADB in extending support for creation of physical income-generating assets.  Also the strong risk management framework, corporate governance and quality of management of Chola, supported by the guidance from the Murugappa Group, has resulted in ADB choosing to work with Chola in furthering their goals of financial inclusion in India.

ADB’s assistance to Chola is composed of senior secured nonconvertible debentures of tenors from 3 to 5 years, to help finance its lending operations to SRTOs and SMEs. Half of this target under ADB’s financing will be from lagging states in India, resulting in improved economic growth prospects and employment opportunities in these areas. SRTOs engaged in logistics, distribution, and transport-related industries will be given priority and SMEs seeking loans for investment and working capital will also benefit from access to this term financing.

“Chola with its focus on funding commercial vehicles for the SRTO segment and to the SMEs is ideally suited to meet ADB’s objectives.  We look forward for a lasting relationship with ADB in furthering our goals mutually” said Mr Arun Alagappan, Executive Director of Cholamandalam Investment and Finance Company Limited.

“ADB’s financing to Chola will help ensure that SRTOs and SMEs, which are crucial to the Indian economy, have access to the necessary long-term capital that they need to continue contributing to the country’s growth and development,” said ADB Principal Investment Specialist for Private Sector Operations Mr. Anshukant Taneja. “ADB’s financing, which has been provided in the backdrop of a slowdown in credit growth in the Indian banking system, has a countercyclical effect and is expected to boost investments and employment.”