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IIFL Home Finance Ltd. presents the 15th chapter of 'Kutumb' in collaboration with Asian Development Bank (ADB)

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1 year ago

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The focus will be on providing support under technical assistance programme to promote the green affordable housing ecosystem in India

  • ADB signed a USD 68 million loan with IIFL HFL to boost green, affordable housing in India
  • ‘Kutumb’ has played a significant role in helping IIFL Home Finance Ltd. serve more than 250,000 customers
  • IIFL HFL has facilitated a credit-linked subsidy of more than Rs 1,746 crore to over 72,000 households under PMAY (U) as on 31st August 2023
  • Engaging in a partnership with a Technical Assistance (TA) programme aimed at bolstering the eco-friendly construction ecosystem within India’s affordable housing sector

NEW DELHI, Dec. 4, 2023 /PRNewswire/ — IIFL Home Finance Ltd., India’s fastest-growing digital first home finance company, and Asian Development Bank (ADB) jointly hosted the 15th Chapter of ‘Kutumb’ event and 10th in series with ADB in Delhi, with a primary focus on fostering discussions centred on bolstering the green building ecosystem within India’s affordable housing sector. Moreover, their partnership through the Technical Assistance (TA) program is geared towards enhancing the sustainability of green construction practices within the affordable housing segment in India. 

IIFL Home Finance Ltd. and the Asian Development Bank (ADB) joined forces for a Technical Assistance (TA) initiative named ‘Enabling the ecosystem to improve access to green affordable housing for women’. This program seamlessly integrates promotion, capacity building, and research and innovation, addressing key areas such as green building, affordable housing, and women’s housing access in India.

The Kutumb event focused on insights based on promoting and advancing Green Affordable Housing in India, aiming to create opportunities for accessible green housing for everyone. Previously, under the ADB initiative, the Kutumb event successfully took place in numerous metropolises like Kolkata, Bangalore, Ahmedabad, Hyderabad, and Pune. This marks the 10th collaboration between IIFL Home Finance Ltd. and the ADB for the Kutumb initiative, following nine successful editions. The earlier nine Kutumb events garnered an excellent response with over 1,500 participants, featuring a community of 900+ developers, and conducted 36+ expert sessions. The Kutumb event made a substantial impact, contributing significantly to the transformation from the mission of ‘Housing for All’ to ‘Green Housing for All’. Developers, policymakers, architects, academicians, green rating agencies, and financial institutions join forces in this collective vision. Through nurturing this collaborative ecosystem, IIFL Home Finance Ltd. actively contribute to ushering in transformative change and advancing the expansion of affordable green housing nationwide. This also played a pivotal role in raising awareness among the Economically Weaker Section (EWS) and Low-Income Group (LIG) categories in India through the “Resilient and Green Affordable Housing” project. Moreover, this event facilitated increased awareness within the developer community regarding affordable green housing, educating them about green design, rating systems, and available financing options.

At the event, Ajay Jaiswal, Chief Operating Officer, IIFL Home Finance Ltd. said, “The joint programme with ADB has made significant strides in understanding the landscape of cost-effective, environmentally friendly housing in India. We’re consolidating insights gleaned from different aspects of the program. The outcomes stemming from our efforts hold immense relevance, given the urgent requirement for affordable, eco-friendly housing in the country. Collaborating with the ADB and CEPT on this initiative has been instrumental in its success, and we’re grateful for their partnership.”

The event saw a stimulating discussion among various participants on related subjects ranging from sustainable design for mitigating climate emergencies to the landscape of green housing in India and how to drive green and affordable housing for women in India. The event was graced by many dignitaries, including Mr. Monu Ratra, ED and CEO IIFL Home Finance Ltd.; Mr. Takeo Konishi, Country Director, Asian Development Bank (ADB); Pradeep Ramakrishnan, General Manager, Department of Debt and Hybrid Securities (DDHS), Securities and Exchange board of India (SEBI); Neha Kumar, Head of South Asia Programme, Climate Bonds Initiative; Shounak Ray, Business Development Lead, International Finance Corporation; Ashok B Lall, Founder and Principal Architect, Ashok B Lall Architects; Shailesh Kumar Agrawal, ED, Building Materials & Technology Promotion Council (BMTPC), Ekta Mehra, Senior Sector Specialist, KFW; Gagan Sidhu, Director, CEEW Centre of Energy Finance; Mohua Mukherjee, Independent Director, IIFL Home Finance Ltd. and Mischa Lentz, Senior Urban Development Specialist (Finance & Investments), ADB

Kutumb is dedicated to advancing affordable, sustainable, and forward-looking housing by actively engaging with developers, architects, and rating agencies. The programme aims to integrate eco-friendly and cost-effective housing into the mainstream in India.

There’s a critical need for policies that emphasize the affordability of eco-friendly housing and the construction of green buildings. Kutumb is committed to convening key influencers to address existing gaps and foster convergence among different aspects and stakeholders within the eco-friendly housing movement.

The event was also live streamed on YouTube and later available as recording on the same platform. Click here for the event link: https://youtube.com/live/sbFYTd9hvMU?feature=share 

To know more about Kutumb, https://www.iiflhomeloans.com/Kutumb

For news and updates, visit https://www.iiflhomeloans.com and follow us on twitter at https://twitter.com/IIFLHomeLoan

For media queries, write to [email protected]

About IIFL Home Finance Ltd.

IIFL Home Finance Limited, the largest affordable housing finance company which is a subsidiary of IIFL Finance Limited, with 79.59% shareholding, while Abu Dhabi Investment Authority acquired 20.41% stake in the company in 2022.  As of 30th September 2023, the AUM stood at Rs 31,094 crore of which home loan is 77%. The Return on Assets (ROA) for the period is at 4.33%. Through affordable home loans, IIFL HFL makes people’s aspirations of owning a home a reality, while emphasizing on supporting green buildings and projects that help society achieve inclusive sustainable development. The objective is to fulfil economic upliftment for EWS/LIG segments of the country. The company has adopted an asset light model by getting into co-lending arrangements that further helps to penetrate and expand in deeper markets of India. To facilitate a seamless customer experience, the entire life cycle of housing loans is technology driven i.e., from origination to closure. The state-of-the-art IT infrastructure helps in reducing costs, real-time analysis of customer data, improving control and underwriting functions, while increasing customer reach and distribution capability.

Photo: https://mma.prnewswire.com/media/2291712/IIFL_Affordable_Housing.jpg

 

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Press Release

New Study Reveals Majority of Indians Prioritize Nutrition Over Taste, Surpassing Global Average

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10 months ago

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May 31, 2024

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Based on a recent survey of urban Indian consumers: 


  • 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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Press Release

Singapore Prepares Ahead to Leverage Artificial Intelligence for a Better Future

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10 months ago

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May 31, 2024

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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:

  1. Empower enterprises to be smarter by adopting AI-enabled solutions
  2. Enable enterprises to scale faster through cloud-based and integrated solutions
  3. Equip enterprises to be safer through improved cyber resilience
  4. 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.

Contact:

[email protected]

 

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One in Six Globally Concerned About Colorectal Cancer Screening Costs

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10 months ago

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May 31, 2024

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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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