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This tracker has been compiled from external sources and does not necessarily reflect the views of the company. Links provided will take you to the full articles appended at the end of the file.

© 2008 Zenith Optimedia.

 

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16. Reliance Money Ties Up With Sify Technologies

12 May, 2008

 

Reliance Money, the brokerage and financial services arm of Reliance-ADAG, has tied up with broadband service provider Sify Technologies to sell its financial products and services like mutual funds, credit cards, money transfer and insurance products through the internet cafe chain.

 

The move, Reliance Money said, will help it target day traders and the younger generation. Sify has over 3,300 cyber cafes across 150 cities. The tie-up, which is on a revenue-share basis, also covers Sify’s 3,000 franchisees providing broadband services to homes.

 

The broadband franchisees would act as marketing agents for Reliance Money products and services. “About 50-60% of broadband revenues come from day-traders. With this tie-up, we can target them better,” said Reliance Money CEO and director Sudip Bandyopadhyay.

 

Reliance Money officials are training Sify’s 600-people sales team to market its products and services, who in turn will train its franchisees to do the same. The roll-out will begin in a fortnight. While its entire range of products and services will be made available at Sify internet cafes, Reliance Money is hoping the move will further boost usage of its online trading account and portfolio management services.

 

For Sify, it would mean an additional revenue stream. “The initiative would allow us to tap unconventional channels of distribution. With an addition of over 6,000 franchisees through the tie-up, we will add significantly to our existing distribution strength,” Mr Bandyopadhyay added.

 

Reliance Money has been distributing its offerings through its existing sales network, Reliance Webworlds and Reliance Communications outlets. Last year, it also tied up with Tata group’s IT solutions and service provider arm, CMC Ltd, for installing its web-enabled financial retail kiosks at CMC franchisee outlets.

 

Reliance Money provides a single window, enabling customers to access, amongst others, equity & commodity derivatives, mutual funds, IPOs, life and general insurance products, offshore investments, money transfer, money changing, gold coins and credit cards.

 

 

 

17. Tata Capital Forays Into Merchant Banking

13 May, 2008

 

Tata Capital on Tuesday announced its foray into merchant banking services through a wholly-owned subsidiary, Tata Capital Markets.

 

"This decisive stance to enter into merchant services exemplifies our firm commitment to emerge as a holistic provider of financial services," Tata Capital's Managing Director Praveen Kadle said in a statement.

 

Having Category-I merchant banking licence from SEBI, Tata Capital Markets Ltd (TCML) would operate as a full merchant bank, encompassing issue management services, qualified institutional placements, corporate advisory services and loan syndication.

 

TCML, he said, would leverage the distribution network of Tata Securities, another wholly-owned subsidiary of Tata Capital, for retail and institutional placement activities, Kadle said.

 

"With 98 operating companies across seven major business sectors, the Tata Group renders us a unique advantage of being able to benefit from the knowledge and the network of the group as we embark on establishing our merchant banking business," he said.

 

 

 

18. Delhi Metro And Citibank Launch Co-Branded Transit Credit Card  

7 May, 2008

 

Citibank India and the Delhi Metro Rail Corporation (DMRC) today announced the launch of India’s first co-branded, ‘2-in-1’ transit credit card, the Delhi Metro Citibank Credit Card. The first of its kind in India, the card combines the benefits of a Metro Smart Card with the advantages of a Citibank Credit Card, and will be available to customers from today.

 

This new product is a pioneering initiative introduced by DMRC and Citibank India, to offer enhanced value and convenience to Delhi’s residents. In addition to the exciting features of a Citibank credit card and the existing Metro Smart card, the Delhi Metro Citibank Credit Card is also unique in several other ways. The reward points accumulated on this card can be redeemed for free Metro rides, at the Citibank point-of-sale terminals, presently installed at Rajeev Chowk, Kashmere Gate, Barakhamba, Pitampura, Rajouri Garden and Dwarka Mor Metro Stations and soon to spread across other stations as well. Additionally, it offers double reward points for Metro spending and will not require the mandatory security deposit of Rs 50.

 

It is India’s first credit card that doubles as a contact-less access card for the Delhi Metro stations, allowing customers “tap and go” entry into DMRC stations. In addition to convenience, the Delhi Metro Citibank Credit card will offer several benefits, including exclusive shopping deals and discounts in Delhi and the NCR, fuel surcharge waivers at Indian Oil outlets and other privileges associated with a Citibank Credit Card. The special “Delhi Delights” feature of this card offers unique deals from some of the biggest brands in Delhi, including Dominos, Fun Cinemas, Nirula’s, Bercos, India Today and VLCC.

 

Launching the Delhi Metro Citibank Credit Card, Mr. Surath Chatterjee, Regional Head of Card Products, Citi Asia Pacific said; “As a global leader in the credit cards business, Citi has come to be known for its innovative card and banking products, internationally and across the Asia Pacific region. Citi has successfully launched similar products in New York and Singapore, both of which have been extremely well received. We expect to launch similar products in more countries in the next few months. This is a great product for our customers and it really helps them in their daily lives. We have worked closely with the DMRC to develop a customised offering for the Indian market and are sure that this product will be a success in India. With the launch of this unique transit credit card, Citi continues its tradition of pioneering innovations in Asia”.

 

Commenting on the partnership with Citi, DMRC Director, Operations, Mr. Raj Kumar added: “DMRC is always looking to improve the transit customer’s experience and we are delighted to partner with Citibank, to launch this unique offering. We believe this product is the next step in providing our travellers unmatched convenience and reduced waiting times by combining an efficient payment mechanism with the Metro experience.”

 

Also speaking on the occasion, Mr. P. S. Jayakumar, Country Business Manager, Global Consumer Group, Citi India, said: “By pioneering co-branding in India, Citibank has brought unmatched value to customers by partnering with the best organisations in their industries. We are delighted to partner with DMRC, which has made Metro the preferred mode of travelling in Delhi. With its innovative practices and strong customer focus, DMRC continues to drive change in the field of mass rapid transportation. As the Metro extends its operations further into Delhi and NCR, and with the forthcoming Commonwealth Games in 2010, the Delhi Metro Citibank Credit Card will fulfil the need of a world-class product for hassle free travel and shopping. Citibank is happy to leverage its global expertise in the transit segment, to bring world-class products to the customers of Delhi.”

 

Special Privileges on the Delhi Metro Citibank Credit Card:

 

Privileges on the ‘2-in-1’ Delhi Metro Citibank Credit Card

 

-- 10 per cent discount on travel fare paid with the ‘2-in-1’ card

 

-- 2 Reward Points for every Rs.100 spent on the Metro, 1 Reward Point for every Rs 100 spent elsewhere

 

-- Facility for converting all Reward Points into Metro Points for Free Metro Rides (at the POS terminal itself)

 

-- An International Credit Card: accepted at over 14 million merchant outlets, in association with Visa international, across the world

 

-- 2.5 per cent surcharge waiver on IOC petrol pumps

 

-- Access to 24 hr CitiPhone Banking services

 

-- Five free lifetime add-on cards

 

-- Delhi Delights – offers from the best brands of Delhi

 

 

 

19. HDFC Bank Launches Fund Transfer On Mobile Network NGPAY

6 May, 2008

 

HDFC Bank on Tuesday launched fund transfer on mobile commerce network, ngpay.

 

With this launch, HDFC Bank said it has become the first bank in India to offer, on one single platform, a full suite of banking and commerce services over the mobile including accessing bank accounts, shopping, ticketing, and payments.

 

HDFC Bank customers who are registered for fund transfer facility under the Bank's NetBanking services can download the ngpay application on their mobile handsets and begin transferring funds immediately.

 

"Fund transfer will happen in real-time between two HDFC Bank accounts and within 48 hours when transferring to a non-HDFC Bank account", Rahul Bhagat, Country Head - Retail Liabilities, Marketing & Direct Banking Channels, HDFC Bank, told a press conference.

 

ngpay CEO Sourabh Jain, said starting next month, HDFC Bank customers will also be able to buy and sell units of different HDFC Mutual Fund schemes through NGPAY.

 

 

HDFC Bank inks Pact With ngpay; Launches "Complete banking solution" On Mobile Phones

7 May, 2008

 

HDFC Bank has announced the launch of its fund transfer service on ngpay, a mobile solution brand from JiGrahak Mobility Solution, to provide a full suit of banking and commerce services through mobile phones.

 

With the launch, the bank's customers can now get account statements, enquire about cheque status, send cheque book requests, get fixed deposit enquiry and transfer fund to any HDFC or any other non-HDFC bank account holder using the ngpay platform.

 

In an official release, HDFC bank stated that the fund transfer between 2 HDFC Bank accounts will happen in real-time while, in case of non-HDFC Bank account, it will happen within 48 hours.

 

The customers of HDFC bank, apart from using the application for e-banking activities, can also avail other services including booking of movie, air, rail and bus tickets, shopping and making payments.

 

The bank claims that this service will be the first in India to offer full suite of services on a single platform.

 

ngpay application can be downloaded on any GPRS-enabled mobile phone by sending a SMS "ngpay" to 56767 or by simply visiting www. ngpay. com.  

 

 

 

20. Cholamandalam DBS Launches Online Share trading - CholaDBS Direct.com

15 May, 2008

 

Cholamandalam DBS Finance Limited, a joint venture between the Rs. 9582 crore Murugappa Group and DBS Bank of Singapore, today announced the launch of CholaDBS Direct, an online investment portal aimed at retail investors and traders. The portal, www.choladbsdirect.com, is a financial gateway for first time as well as regular investors, helping them invest safely and securely across a wide variety of financial instruments online. The portal will initially also host most of the in house research that has been hitherto available to High Net worth Individuals (HNI) clients of the firm.

 

Speaking about the initiative, Mr. Atul Pande, Managing Director, Cholamandalam DBS said, “With the launch of CholaDBS Direct, we expect to gain a sizable market share in the online trading space. Our partner, DBS Vickers Securities, the securities arm of the DBS Group, is a strong online player, and we have integrated our domestic and international knowledge to ensure we present a very strong platform to Indian investors. With our strong focus on customer choice and transparency, we believe we can play a pivotal role in this industry over the next three to five years. The product would now be available across all our 90 existing wealth management branches across 46 cities.”

 

“CholaDBS Direct’s trading platform offers a very user friendly interface for both active traders as well as investors. More over, we are continually going to build around technologies that allow clients to experience online trading in a very different way. We have also priced it vey aggressively and are offering a 3-in-1 account in partnership with banks” said Mr. Sandip Raichura, Head Broking, Cholamandalam DBS. “The portal was being test marketed in some key locations over the past few months and the initial response suggested that the online community would continue to not only grow substantially but also force key players to bring strength and variety in their offering. Our client service standards would continually be ramped up to ensure we retain a large part of our investor base over the years”, he added.

 

Cholamandalam DBS will also be looking at partnering with banks and other financial institutions to offer their customer base a range of white labeled retail products including personal loans and online broking through www.choladbsdirect.com.

 

 

 

21. Max New York Life: Desperately Seeking Sanju

14 May, 2008

 

Remember the life insurance ads of yesteryears (call it the last century/ millennium, if you must)? Dread and fear were the two primary psychological hooks for the category, and it wasn’t uncommon to hear ambulance sirens wail in the ads, as horror struck family members worried about the future on losing a loved one. With increased privatisation, the category became chirpier with emotional ‘We’re there for you’ kind of appeals being made by various brands.

 

Now, in a life insurance ad by Max New York Life (MNYL), it seems fear – and its relevance to the basic need for insurance – is back. Anisha Motwani, senior vice-president, marketing, Max New York Life, says, “The category is getting crowded with the sappy, emotional kind of appeals. I’ll say it is gutsy on our part to bring fear back as it is one emotion that is avoided by most Indians – they love a happy ending.”

 

However, she adds, people in India are still in denial with reference to this category. They largely tend to believe ‘it can’t happen to me’, which is an area that MNYL wishes to address. “We worked around the famous insight that problems never announce their arrival, so one has to be prepared,” Motwani explains.

 

The ad, created by Euro RSCG, opens on the shot of a woman hurriedly climbing up the stairs to her flat. On passing the security guard, she enquires if her husband has arrived home. He says he has. She quickly opens her door and rushes in, calling out to her husband, Sanju. She prepares tea, and calls out again to her husband, expecting a reply. But there’s only silence. Next, she calls him on his mobile phone, only to find it ringing in the house itself, under some couch pillows. Now, she is a little worried, and calls out frantically for him, exploring every inch of the house. Her worry escalates into panic on finding her husband very still in a rocking chair on the terrace, coffee spilling from an overturned cup beside him and newspaper sheets scattered all around. Assuming the worst, she creeps up behind him and nudges him. Sanju, who had been listening to music on his earphones, is quite startled. The couple hug each other in relief. The ad ends with the thought, ‘Museebatein bataake nahin aati’, and therefore, Max New York Life helps a person prepare for such unprecedented events.

 

Motwani admits that this is a “health insurance brief given for a life insurance ad”. To her, the idea here is not only about health problems, but about any threat to a peaceful life. “The insight fit the brief perfectly,” she says.

 

Says Mani Jayaram, vice-president, creative, Euro RSCG, “We wanted this film to be a relatable, slice of life one, as the insight itself is very real.” The ad idea was thought of by Euro’s associate creative director, Nikhil Pandey, who cracked the idea “one fine afternoon”. The name Sanju was chosen as it is a generic one (the name is rather prominent, being the only words uttered in the ad for a long time).

 

“The film had to build on the paranoia aspect, and we had to let the viewer believe that something was very wrong, to play on fears,” says Pandey. The essential brief was as basic as the category itself: to address the question why one should opt for insurance. Exaggeration had to be used to make the ad a little scary, but not so much that the relief in the end is lost on the audience.

 

The ad has been directed by Subir Chatterjee of White Light Films, along with Namita Roy Ghosh. A young couple was chosen as with an old couple, the viewer would have jumped to the obvious conclusion easily. The ad was shot over two days in two separate flats in Mumbai (for different scenes). The flats were not prettied up – they were shot just as they are in reality to give a slice of life feel. The security guard was thrown in to heighten the pressure, as then the woman is expecting her husband to be in the house.

 

The shot of the woman calling her husband on his mobile, only to find it ringing within the house, was used to make the ad more chilling.

 

“We used a jumpy kind of narrative,” says Chatterjee. Some shots were taken from a 16mm handheld camera. Further, multiple dissolves were given to the woman’s face, to make it look like she has searched in every direction (it also gave the passage of time effect).

 

“Sounds were of extreme importance to add to the sinister feeling in the film,” Chatterjee adds. A faint ambulance sound on the woman reaching the terrace, the shrill ring of the mobile, or even the terrace door banging, are all intended to make the film edgier.

 

The ad is currently playing with the IPL matches.

 

 

 

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