Press Release
SBI Life signs MOU with Shri Kshetra Dharmasthala Rural Development Project BC Trust® to make insurance solutions accessible to rural people of Karnataka & Kerala
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The collaboration aims to jointly fortify the financial stability of households in rural Karnataka & Kerala through insurance solutions under SBI Life Group Micro Shield plan
BANGALORE, India, Dec. 14, 2023 /PRNewswire/ — SBI Life Insurance, one of the most trusted life insurers in India, signed MOU with Shri Kshetra Dharmasthala Rural Development Project BC Trust® in Dharmasthala, Karnataka. With a focus to support financial inclusion, empower rural women and social development amongst the stakeholders, life insurance solutions are being made easily accessible to the socio-economically weaker sections of the society in Karnataka & Kerala. This collaboration between SBI Life and SKDRDP BC Trust® is poised to be a significant step forward in ensuring inclusive development in the region. SBI Life aims to leverage SKDRDP BC Trust’s® invaluable on-ground network to fortify the financial stability of households in rural Karnataka & Kerala through meaningful insurance solutions.
The MOU was signed by Shri. Ashwani Kumar Shukla, Regional Director, Bangalore Region, SBI Life and Dr. L H Manjunath, Chief Executive Officer, SKDRDP BC Trust® in the presence of Shri. Amit Jhingran, MD & CEO, SBI Life; Shri. Dr. D. Veerendra Heggade, President, SKDRDP BC Trust® along with Smt. Mathrushree Hemavathi V Heggade, President Jnanavikasa Program; Shri. D Shreyes Kumar, Director Projects, SDME Society; Shri. Anil Kumar S S, Chief Operating Officer, SKDRDP BC Trust®; Shri. Shantharam R Pai, Chief Finance Officer, SKDRDP BC Trust®; Shri. AVS Siva Rama Krishna, President Zone II, SBI Life; Ms. Sweetie Shetty, EVP & Chief, Institutional Alliances (Acquisitions) & Corporate Solutions Group, SBI Life, and other senior dignitaries.
Commenting on the collaboration, Shri. Amit Jhingran, MD & CEO of SBI Life, shared his thoughts, stating, “We are delighted to partner with Shri Kshetra Dharmasthala Rural Development Project BC Trust® in our shared mission to uplift rural communities. SBI Life strives to make insurance accessible to all and this collaboration is a testament to SBI Life’s commitment to extending financial protection and security to the grassroots. In forging this strategic partnership, we are not merely entering into an agreement; we are embarking on a joint mission to elevate the well-being and prosperity of rural communities.” He further added, “Through our innovative Group Micro Insurance Product, we aspire to extend a robust financial safety net, catalyze positive transformations and foster enduring resilience in the tapestry of rural Karnataka & Kerala. This collaboration exemplifies SBI Life’s unwavering commitment to driving inclusive growth, and we are confident that our collective efforts will usher in a brighter and more secure future for those who stand to benefit from this impactful initiative. We sincerely hope, this collaboration will have a positive impact in rural households across the State and look forward to forge more of such grassroots associations that will allow us to extend our reach and make a meaningful impact on individual lives across diverse communities.”
Commenting on the collaboration, Dr. D Veerendra Heggade, President, SKDRDP BC Trust®, said, “Today, SKDRDP®️ is recognized as having implemented one of the largest coordinated programmes in India, supporting financial inclusion and social development of more than 5 million vulnerable stakeholders in the states of Karnataka and Kerala. We have been unwavering in our commitment to our vision of transforming the society by implementing programmes that enhance the wellbeing and harmony of the poor and underserved and we are delighted to partner with SBI Life Insurance while enabling this vision. Both the organizations have had a long-standing legacy with an objective to build thriving and sustainable communities.”
The MOU signing ceremony marks a pivotal moment in the collaboration between SBI Life and SKDRDP BC Trust® reinforcing their shared commitment to social welfare and community development. The partnership aims to bring financial security and insurance coverage to those who need it the most, aligning with SBI Life’s mission of providing accessible and affordable insurance solutions across diverse segments of the population.
SBI Life Group Micro Shield plan is designed specially to empower people especially women who require ‘Insurance Coverage’ to cover the micro credit, providing reassurance to the insured families with the required financial security in case of any unfortunate event. It is a group, non-linked, non-participating pure risk premium, micro life insurance product especially designed to take care of the needs of socially and economically weaker sections of the society.. Additionally, there is an option to cover co-borrowers, which can be availed at the master policyholder level.
As SKDRDP BC Trust® continues to expand its reach and impact, the collaboration with SBI Life signifies a strategic alliance between two entities dedicated to make a positive and meaningful difference in the lives of individuals in rural India.
About SKDRDP:
Shri Kshethra Dharmasthala Rural Development Project B.C. Trust ® (SKDRDP BC Trust ®) was founded as a tax paying trust in the year 2017 after the mother trust Shri Kshethra Dharmasthala Rural Development Project ® (SKDRDP) hived off its BC/BF (Business Correspondent/Business Facilitator) activities which was hitherto managed by SKDRDP trust to the newly formed SKDRDP BC Trust. Touted as the largest BC of the country, SKDRDP BC Trust works in partnership with six scheduled commercial banks in the state of Karnataka and Kerala. It reaches out to approximately 5.6 million clients mostly women in providing the much-needed banking services including account opening, account transaction, credit linkage and recovery. SKDRDP BC Trust adopts the popular SHG module to organizing the people coming from the poorest strata of the society who are generally excluded from the banking activities more specially credit. As partner of the banks the trust has taken up the responsibility of identifying the customers, forming SHGs, collecting KYCs, opening bank accounts and disbursing credit. The trust also manages the banking transactions including loan disbursement and cash collection. The trust has several social welfare activities including health insurance, life insurance and asset insurance. The trust employs 8,500 full time employees and 40,000 on contractual basis to connect with the customers. The credit facilities provided by SKDRDP BC Trust (Regd) are insured by SBI Life. Dr. D. Veerendra Heggade, a Padmavibhushana awardee by the Govt. of India in the year 2016, who is currently a nominated member of Rajyasabha has been deftly managing the affairs of SKDRDP BC Trust.
About SBI Life Insurance
SBI Life Insurance (‘SBI Life’ / ‘The Company’), one of the most trusted life insurance companies in India, was incorporated in October 2000 and is registered with the Insurance Regulatory and Development Authority of India (IRDAI) in March 2001.
Serving millions of families across India, SBI Life’s diverse range of products caters to individuals as well as group customers through Protection, Pension, Savings and Health solutions.
Driven by ‘Customer-First’ approach, SBI Life places great emphasis on maintaining world class operating efficiency and providing hassle-free claim settlement experience to its customers by following high ethical standards of service. Additionally, SBI Life is committed to enhance digital experiences for its customers, distributors and employees alike.
SBI Life strives to make insurance accessible to all, with its extensive presence across the country through its 1,011 offices, 23,998 employees, a large and productive individual agent network of about 236,978 agents, 73 corporate agents and 14 bancassurance partners with more than 41,000 partner branches, 148 brokers and other insurance marketing firms.
In addition to doing what’s right for the customers, the company is also committed to provide a healthy and flexible work environment for its employees to excel personally and professionally.
SBI Life strongly encourages a culture of giving back to the society and has made substantial contribution in the areas of child education, healthcare, disaster relief and environmental upgrade. In 2022-23, the Company touched over 1.1 lakh direct beneficiaries through various CSR interventions.
Listed on the Bombay Stock Exchange (‘BSE’) and the National Stock Exchange (‘NSE’), the company has an authorized capital of Rs. 20.0 billion and a paid up capital of Rs.10.0 billion. The AuM is Rs. 3,451.5 billion.
For more information, please visit our website- www.sbilife.co.in and connect with us on Facebook, Twitter, YouTube, Instagram, and Linkedin.
(Numbers & data mentioned above are for the period ended September 30, 2023)
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Press Release
New Study Reveals Majority of Indians Prioritize Nutrition Over Taste, Surpassing Global Average
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Based on a recent survey of urban Indian consumers:
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Nine out of 10 consumers are searching for protein-rich food compared to seven out of 10 global shoppers. -
The top four qualities consumers look for when buying snacks are (1) natural, (2) heart-healthy, (3) protein-rich and (4) energy-source, all of which come before satisfying cravings. -
Nuts have emerged as one of the most popular snacking choices, with 86% of Indian shoppers report having purchased them in a span of 6 months. -
Urban Indians read nutrition labels more than the global average, reflecting a growing trend towards informed purchasing. -
69% of urban dwellers surveyed have the opinion that plant-based protein is just as good as meat-based protein, exceeding the global average of 55%.
Wonderful Pistachios, the world’s largest grower and processor of pistachios and distributor of California Pistachios in India, released today, World Nutrition Day, the findings of a new global study that sheds light on the snacking habits of urban Indians. The study, commissioned with Material, a leading global research consultancy, included 10 countries and over 12,400 respondents, revealed a new behavioural trend that urban Indian consumers prioritize nutrition over taste when it comes to snacking. This growing preference for healthy snacking emphasizes the importance of good nutrition for overall well-being.
For the India market specifically, the study delved into the snacking habits of 2,415 shoppers across six Indian cities, which represented a population of approximately 35.9 million consumers. Remarkably, a majority of urban Indians (58%) reported basing their food purchasing decisions on nutritional benefits more than taste, exceeding the global average of 52%. Delhi and Ahmedabad lead with over 60% of urban shoppers preferring nutrition in their food. Bengaluru and Chennai follow closely, indicating a nationwide shift towards smarter snacking preferences. In India, Millennials and Gen Z are leading the charge in health-conscious purchasing decisions, with more than 83% of consumers in these age groups reading nutritional labels before buying.
Indian consumers prioritize four key factors when shopping for nutritional snacks: natural (free of artificial colours and preservatives), heart-healthy, protein-rich, and provides energy. Nine out of 10 urban shoppers consciously seek protein-rich food options, compared to the global average of seven out of 10. The focus on nutrition has fueled the rise of nuts as a preferred snack choice, becoming essential to daily eating habits. The study found a staggering consumption of nuts, with 86% of Indian shoppers report purchasing them in a span of 6 months, compared to just 75% globally. With 6g of protein in per 28g serving, California Pistachios are a smart snack choice that provides benefits without sacrificing taste.
Shail Pancholi, Country Director, India, Wonderful Pistachios, commented on the study, saying, “Nuts were traditionally used as garnishes and consumed during festivals, but have now become a popular snack in India, indicating a notable shift in dietary habits. Pistachio consumption in India has doubled in the last six years, as consumer awareness of the nutritional benefits that pistachios offer has grown. Consumers are discovering that pistachios are naturally cholesterol-free, rich in plant-based protein and dietary fiber, and provide over 30 different vitamins and minerals.”
Interestingly, the study found that nuts are the second most preferred snack among urban Indian consumers, with 64% of Baby Boomers and 59% of Gen Z prioritizing nutrition over taste when selecting food. This indicates a growing focus on health across generations, with Baby Boomers focusing on senior wellness and Gen Z reflecting the rise of mindful purchasing. Though on opposite ends of the age spectrum, these two generations take the lead in seeking protein-rich options, as well as preferring natural snacks.
Mumbai tops most of the consideration sets when choosing a snack. Residents opt for natural ingredients (35% vs. the national average of 30%), heart-healthy options (33% vs. 30%), and protein (33% vs. 29%). Chennai residents look for energy-boosting snacks (31% vs. the national average of 29%).
The fact that 69% of urban Indians surveyed have the opinion that that plant-based protein is just as good as meat-based protein reflects a positive shift towards varied dietary preferences. Pistachios are a good source of high-quality complete protein, containing all nine essential amino acids. A 28g serving of pistachios provides 6g of protein, which is 11% of the recommended daily allowance (RDA) according to FSSAI.
The Wonderful Pistachios study unveils a compelling shift in Indian snacking habits. Nuts are evolving from festive treats to a daily snacking staple, fueled by a nationwide preference for more nutritious options. The trend transcends generations, resonating with Gen Z and Baby Boomers alike, underscoring the growing importance of mindful eating in urban India. As consumers increasingly seek natural, heart-healthy, protein-rich, and energy-boosting snacks, the future of Indian snacking appears to be firmly rooted in nutrition and well-being.
Wonderful Pistachios
Wonderful® Pistachios is the world’s largest grower and processor of pistachios, with a global presence in over 70 countries. As a vertically integrated operation, they are experts in every step of the process from tree to shelf, ensuring the highest-quality product every time. In tandem with its Grower Partners, Wonderful Pistachios harvests 125,000 sunny acres (50,000 hectares) of land in California that receive warm days and cool nights, which work in harmony with the rich, natural soils to create the perfect growing climate for high-quality pistachios. They ship 600 million pounds (204 million kg) of nuts worldwide from their advanced processing facilities to ensure the highest standards are met. When it comes to pistachios, Wonderful® Pistachios expertise is unmatched in scale and capacity, paired with warehouses and sales teams worldwide that are well-equipped to provide support at every step of the way.
California Pistachios
California Pistachios are grown and distributed by The Wonderful Company, the world’s largest vertically integrated pistachio processor and marketer located in California’s Central Valley. California Pistachios are Non-GMO, providing a smart, healthy choice for consumers around the world. Sun-ripened in the moderate Mediterranean climate of California, these distinctively green nuts pack taste and contain antioxidants and over 30 different nutrients. California Pistachios in India are available under leading brands and private labels at retail outlets, grocery stores, and online platforms.
For more information about California Pistachios India, please visit www.b2b.wonderfulpistachios.com
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SINGAPORE, May 31, 2024 /PRNewswire/ — Senior Minister of State for Communications and Information Tan Kiat How launched the Digital Enterprise Blueprint (DEB) at Asia Tech x Singapore (ATxSG) 2024 today. The Blueprint will enable SMEs to harness technology, optimise the way they work, and strengthen digital resilience and cybersecurity across the ecosystem. 50,000 SMEs are expected to benefit over the next five years through four key focus areas:
- Empower enterprises to be smarter by adopting AI-enabled solutions
- Enable enterprises to scale faster through cloud-based and integrated solutions
- Equip enterprises to be safer through improved cyber resilience
- Support enterprises to upskill workers to make full use of digital capabilities
Seven partners have come onboard to pledge their commitment, including Singapore Business Federation, Singapore Computer Society, SGTech, Amazon Web Services, Google, Microsoft and Salesforce.
In collaboration with IMDA and the TechSkills Accelerator for ITE and Polytechnics Alliance, SGTech is launching the Tech Apprenticeship Programme to expand the career pathways of graduates by providing access to industry apprenticeships that offer on-the-job training and development opportunities. Over the next two and a half years, SGTech aims to facilitate the placement of at least 300 apprentices who are fresh or mid-career professionals from polytechnic or ITE backgrounds, and drive the adoption of similar practices that promote more inclusive hiring and career agility.
IMDA and the Singapore Academy of Law (SAL) signed an MoU aimed at uplifting the legal sector’s productivity through the use of GenAI. As part of this partnership, GPT-Legal, a new large language model which is contextualised for Singapore’s legal sector, will be co-developed. The model will be integrated into SAL’s research platform LawNet, which is accessible by 75% of Singapore’s lawyers. SAL will also be penning an MoU with the National University of Singapore and AI Singapore to develop its AI capabilities and create a certification to recognise AI specialists in the legal profession.
Additionally, Tribe and Digital Industry Singapore announced a collaboration with NVIDIA to launch the Ignition AI Accelerator for AI startups to create and bring to market the next wave of advancement in AI solutions. This programme will nurture 15 high-potential startups, equipping them with well-rounded support covering business and technical needs. NVIDIA and Tribe will also collaborate with EnterpriseSG to offer qualified AI startups funding support through the Startup SG Tech scheme, and assist them through the IMDA Accreditation process.
Singapore hosted the final meeting of the UN Secretary-General’s Artificial Intelligence Advisory Body (AIAB) from 28-29 May. As part of the agenda, Singapore facilitated an engagement session between AIAB and the Digital Forum of Small States (Digital FOSS). Digital FOSS Fellows exchanged views with AIAB members on the topic of AI governance, particularly on the implications and challenges faced by small states. Through such efforts, Singapore aims to promote a more inclusive approach towards shaping global AI and digital governance.
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SHENZHEN, China, May 31, 2024 /PRNewswire/ — By 2040, the burden of colorectal cancer (CRC) is projected to increase to 3.2 million new cases and 1.6 million deaths per year representing a 66% and 71% rise in new cases and deaths respectively relative to 2020.
To better address the global burden of CRC and reduce its impact, BGI Genomics has launched the second edition of its global CRC awareness report, covering 1,938 respondents from Brazil (306), China (367), Poland (300), Saudi Arabia (300), Thailand (362), and Uruguay (303):
CRC Screening Gaps Vary Globally: Nearly half (49.3%) of global respondents have never undergone CRC screening, with the highest proportions in Saudi Arabia (62.0%) and Poland (61.0%).
Preference for Fecal Testing Over Colonoscopy: Although colonoscopies are more recognized (33.4%), fecal tests at healthcare facilities are preferred (31.8%), reflecting a trend towards non-invasive methods.
Cost and Fear are Determinants of Screening Choice: Fear of colonoscopy (18.2%) and screening costs (17.7%) are major barriers to CRC screening. Poland (24.7%) and Uruguay (21.0%) show the highest fear of colonoscopy, while Thailand (24.5%) and Brazil (20%) indicate the most concern about costs.
Medical Advice and Family History Drive CRC Screening: Doctor’s recommendations are a major driver for CRC screening (30.5% globally), with Uruguay showing the highest adherence (44.1%). Additionally, those with a family history of CRC are more proactive in screening (64.5%), compared to the general population (35.0%).
Prof. Varut Lohsiriwat from Mahidol University offers his insights to this report. He suggested: “The essence of effective cancer screening lies in the acceptance and adherence of the patient to the screening method. The best screening method is the one that the patient accepts and adheres to because that’s the method that will actually benefit them.”
Dr. Zhu Shida, BGI Genomics Deputy GM, notes: “At BGI Genomics, we focused our efforts on developing advanced molecular biology testing techniques to close the gap [between acceptance and accessibility]. The ultimate goal is to transform colorectal cancer from a life-threatening disease into a manageable condition through widespread, early screening and intervention.”
For more region-level comparisons, access the full BGI Genomics 2024 State of CRC Awareness Report.
All data involved in this report come from the results of an online survey project conducted by BGI Genomics. It only surveys awareness related to colorectal cancer and does not involve personally identifiable data.
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New Study Reveals Majority of Indians Prioritize Nutrition Over Taste, Surpassing Global Average
Singapore Prepares Ahead to Leverage Artificial Intelligence for a Better Future
One in Six Globally Concerned About Colorectal Cancer Screening Costs
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