SBI reduces MCLR by

SBI reduces MCLR by 5-10 bps in the shorter tenors

·         MCLR upto 3 months tenor comes down to 6.65% p.a w.e.f July 10

·         14^th consecutive reduction in bank’s MCLR

·         SBI’s MCLR continues to be the lowest in the market

Country’s largest lender State Bank of India (SBI) has announced the reduction in its MCLR by 5-10 bps in the shorter tenors i.e. upto 3 months, with effect from 10th July 2020, to boost credit off take and revive demand.

This is 14th consecutive reduction in the Bank’s MCLR. With this revision, SBI’s MCLR upto 3 Months tenor comes down to 6.65% p.a., which is on par with the EBLR of SBI.

SBI’s MCLR continues to be the lowest in the market.

Details are being made available on the Bank’s web site.

Flipkart’s 2GUD forays into social commerce brings

Flipkart’s 2GUD forays into social commerce; brings content-to-commerce play for consumers across the country 

• 2GUD social commerce brings unique browse-led, video-based shopping experience
• The platform will host endless feed of videos made by influencers;
  enabling content to commerce for consumers

Flipkart, India’s homegrown e-commerce marketplace, today announced the launch of social commerce on its independent value platform - 2GUD. With the aim to widen the customer proposition, the social commerce feature will be available to all app users. 2GUD’s social commerce platform will allow users to have an uninterrupted video shopping experience with their favourite influencers showcasing the latest fashion trends, reviewing gadgets, sharing beauty tips and so much more.

Consumers on 2GUD’s social commerce platform will be exposed to a feed of videos made by a hand-picked influencer network across various topics and categories. These influencers will curate their favorite products as part of their collection in the virtual store, allowing consumers to witness their styling journeys across categories. It will also allow consumers to shop the products which are part of the video, without moving away from the video interface, leading to a seamless, natural and content-to-commerce experience.

 

 

 Commenting on the launch, Chanakya Gupta, Head of 2GUD at Flipkart, said, “We want the next 200 million customers to be able to experience social commerce comfortably and build their trust on 2GUD as they come on to the platform for an engaging shopping experience. These consumers quite often face trust and style deficits. In a situation like this, recommendations from a person like yourself or an influencer play a critical role. Influencers are changing the landscape of online retail and bringing greater opportunities for social commerce platforms in India. With millions of followers across the country, they have the potential to impact consumer’s buying decisions. With this focus, we have specially curated a set of influencers who are best positioned to understand our target audience and help them through their buying decisions on the platform.”

The manner in which consumers today are consuming content has dramatically changed over the past few years with the advent of social media. The rise of influencers, beyond the metro cities, has given a pathway to a new generation of content creators who are able to drive deeper personal connections and are relatable to a mass of audience, beyond metros. As an extension, social commerce has already made inroads and accounts for 15-20% of the online retail market today, which is expected to hit the $70 billion mark in the coming decade, according to industry reports. With low data costs and an increasing market of first-time internet users in Bharat, especially from Tier 2 and 3 cities, the opportunity for the social commerce industry is growing by leaps and bounds.

Starting with the launch of social commerce on its app, 2GUD will further expand this feature to its m-site and website. 2GUD currently caters to more than 600+ verticals across new value-driven offerings and existing refurbished product segments. The platform has more than a million customers spanning across 15,000+ pincodes in India.

IndusInd Bank launches redesigned website to

IndusInd Bank launches redesigned website to
enhance customer experience

IndusInd Bank announced the launch of its redesigned website www.indusind.com to offer customers with an enhanced experience across devices such as desktops, laptops, mobile phones and tablets.

The website is equipped with best-in-class design principles and is powered by the latest version of one of the leading quadrant Content Management Platforms – Adobe Experience Manager.

The all new website enables users to seamlessly navigate through the various products and services of the Bank, thereby enabling the Bank to curate its offerings based on their preferences. The new website also comprises several features that aim to offer users, who are visually impaired with a smooth browsing experience.

Elaborating on the new website, Mr. Anil Ramachandran, EVP and Head – Marketing & Retail Unsecured Assets, IndusInd Bank said“ This is another key  step forward from a brand perspective as the customer experience in this critical touchpoint, has been significantly enhanced . The layout and navigation delivers a simple and visually pleasing platform for the customer. At IndusInd we are committed to simplifying banking for our customers towards making every interaction with the bank more convenient. The launch of the new website is a testament to this commitment, and we are sure our customers will truly appreciate the fresh new look and simplified navigation.

Speaking about the launch, Mr. Ritesh Saxena, Head - Direct Banking, IndusInd Bank said, “For our bank, the adoption of digital has been a part of our DNA for a while now, and we have been focused on using digitisation and technology towards simplifying and making banking convenient for our customers. The launch of the revamped website is a step towards the same direction, which helps us to understand the needs of customers better and offer them with a unique, unparalleled channel of interacting with the Bank.”

Also added Mr. Biswabrata Chakravorty, Chief Information Officer, IndusInd Bank, “IndusInd Bank has implemented the Corporate Website on the enterprise class enterprise content management system from Adobe. The Bank wanted to provide the best-in-class experience to its customers and decided to revamp its website end to end. The new website has been optimized for SEO and therefore improves brand salience. The site has been implemented on the latest version of the Adobe Experience Manager which will offer users with a unique browsing experience.”

Mr. Krishna Chandaluri, Chief Digital Officer, Indigo Consulting said, “All of us here at Indigo Consulting are extremely proud of our long-term relationship with IndusInd Bank. We began this transformation journey with IndusInd Bank together and are really committed to always stay deeply invested in this partnership to bring state-of-the-art technology, best creative and strategy talent and world-class processes to continue deliver delight for all IndusInd Bank customers. I also specially thank all core-team members at IndusInd Bank IT, Technology and Marketing for their guidance and support during this strategic project delivery period”

Some of the key highlights of the website are:

·         Customised experience - The website understands the need of a user and tries to display content based on the user's behaviour. It also helps the Bank to curate offers based on the customer’s profile and preferences.

·         Better visual appeal - Bigger banner placements across the website including product pages, enhances the visual appeal and makes information consumption easier

·         Adjustment of Font size - This particular feature allows the user to increase the font size in order to make the page more readable. This is done in a way that the design does not get distorted while increasing the font size.

·         Alternate text for Images – All images on the website have alternate text embedded along with it. This helps users who are visually impaired to navigate the website using specific in-built reader tools in a seamless way.

·         Improved Navigation – The new website adopts an imagery driven look and provides a simpler navigation experience which is suitable for all kinds of devices.

Indigo Consulting, the leading digital business and marketing transformation company of the Publicis Group has been a digital partner of IndusInd Bank for more than 5 years and was given the mandate for this customer experience transformation by the Bank.

Ratings:

Domestic Ratings

●       CRISIL AA + for Infra Bonds program

●       CRISIL AA for Additional Tier I Bonds program

●       CRISIL A1+ for certificate of deposit program

●       IND AA+ for Senior bonds program by India Ratings and Research

●       IND AA for Additional Tier I Bonds program by India Ratings and Research

●       IND A1+ for Short Term Debt Instruments by India Ratings and Research

International Ratings

●       Baa3 as Issuer, Bank Deposits and Senior Unsecured MTN ratings by Moody’s Investors Service

●       P3 as Short Term Issuer Rating by Moody’s Investors Service

Flex it! IndiGo launches flex pay to

Flex it! IndiGo launches flex pay to put customers at ease

 

In its bid to support our customers, IndiGo, India’s leading airline, launched Flex pay for its passengers wherein they can avail the flexible payment option. With the help of Flex pay, the passengers can now secure their bookings by paying only 10% of the total fare amount and defer their payment on an IndiGo domestic flight for a period of up to 15 days either from the date of bookings or before the date of departure.

For example, the minimum Flex Pay Payment for a DEL-BOM round trip for 4 passengers will be, 2 segments X 4Pax X INR 400 = INR 3200. Whilst making the payment of the balance amount corresponding the Booking where a Customer has exercised the Flex Pay Option, the Flex Pay Payment paid by the customer upfront will be adjusted against the total booking amount. More information is provided in the T&C link given below.

 

Mr. Sanjay Kumar, Chief Strategy & Revenue Officer, IndiGo said, “We are pleased to announce the launch of our new flexible option for customer, Flex Pay. We intend to extend this offer for our customers to make their travel more comfortable. Our endeavour is to deliver a hassle-free experience, from the time the customer opens our website to book a ticket until the time they reach their destination. The convenience of customers always matters for us, even in these times, whilst safety remains the biggest priority for us.”

IndiGo flights are designed to cater to travellers who are constantly on the lookout for new and affordable flying options. Customers who wish to have more further details on flex pay can login on https://www.goindigo.in/flex-pay.html