&w=3840&q=100)
Maruti Suzuki partners with ESAF Small Finance Bank for vehicle finance
Maruti Suzuki India Ltd on Monday said it has partnered with ESAF Small Finance Bank to offer retail financing solutions for new cars, used cars, and commercial vehicles.
The two partners have signed a Memorandum of Understanding for the purpose, which will focus on offering easy and flexible finance options tailored especially for first-time buyers, the company said in a statement.
The partnership will leverage the combined network of Maruti Suzuki and ESAF Small Finance Bank across Tier II and Tier III cities to make vehicle ownership more accessible and convenient for a wider segment of customers, it added.
"Through this (partnership), we aim to further enhance financing options and flexible repayment solutions...," Maruti Suzuki India Senior Executive Officer, Marketing & Sales, Partho Banerjee said.
ESAF Small Finance Bank MD & CEO K Paul Thomas said, "This collaboration will help extend affordable and convenient mobility solutions to a wider customer base, particularly in under-penetrated regions. It is a step forward in our mission to promote inclusive development and sustainable progress for all.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Indian Express
36 minutes ago
- Indian Express
Sebi may discuss separate PSU delisting norms, ESOPs for startup founders in board meet
The Securities and Exchange Board of India's (Sebi) board which is scheduled to meet on June 18, is likely to discuss a host of reforms, including allowing voluntary delisting of public sector undertakings (PSUs) where government holds 90 per cent or above stake and permitting founders of startups to retain employee stock options (ESOPs) post listing of their companies. The Sebi board is likely to create a separate carve out mechanism for voluntary delisting for PSU, where the government's shareholding equals to exceed 90 per cent of the total issued shares, according to market participants. Delisting of securities means the removal of securities of a listed company from a stock exchange. Delisting of a company is considered to be successful, if the post offer shareholding of the promoter or promoter group along with the shares tendered by public shareholders reaches 90 per cent of the total issued shares. In a draft paper issued in the last month, Sebi had said a few PSUs have thin public float and poor financials. Although some of these PSUs may be profitable, they might not have a future due to outdated product lines or government's decisions to sell-off their assets such as individual units. The consultation paper said that since the shares of these PSUs are held by the government, it reduces risks and offers more security for investors. This, in turn, results in a heightened market price, which in certain cases may not be commensurate with the book value of these companies. According to the draft paper, if such PSUs are to undertake delisting, being frequently traded, the 60 days' volume weighted average market price will be required to be taken into consideration, which will lead to higher floor price and consequently result in higher budgetary outlay for the government. In the meeting, the board may also consider the proposal to allow founders of new-age tech companies, or startups, planning to launch initial public offering, and who are classified as promotor or promoter group in the draft offer document, to continue to hold, exercise or avail ESOPs granted one year before the company undertakes IPO. Currently, while employees of a company are eligible for ESOP, promoters are not entitled to receive it. The Sebi board may also take up issues such as treatment of Infrastructure Investment Trusts (InvIT) and Real Estate Investment Trusts (REIT) as equity, providing flexibility to alternative investment funds (AIF) to offer co-investment opportunities to investors and to facilitate regulations for foreign portfolio investors (FPIs) investing in government bonds, market experts said.
News18
39 minutes ago
- News18
McLaren Principal Deems Norris-Piastri Collision 'Unacceptable'; Yet Drivers Allowed To 'Race Freely'
Last Updated: McLaren principal Andrea Stella called the Norris-Piastri collision at the Canadian Grand Prix "not acceptable" but will still allow both drivers to race freely. McLaren principal Andrea Stella has acknowledged that the collision between Lando Norris and Oscar Piastri during the Canadian Grand Prix was 'not acceptable", but the team will continue to allow both drivers to race freely for the Formula One title. Norris took responsibility for the incident after he hit the rear of Piastri's car while trying to overtake in a battle for fourth place with three laps remaining. This clash between the championship contenders, which saw Piastri extend his lead by 22 points while Norris failed to score, was a major topic of discussion at Montreal's Circuit Gilles Villeneuve and had been anticipated for some time. #CanadianGP #FormulaOne #McLaren — Mako (@Yuno_Mako) June 15, 2025 Stella said the team would hold discussions once the situation had calmed down to prevent a recurrence. 'There will definitely be good conversations, but they will happen once we are all rested and calm," he told reporters. Stella emphasised that the team aims to 'preserve our parity and equality in terms of how we go racing at McLaren between our two drivers." He added that allowing drivers to race freely and maintaining clarity on racing principles is a core value. 'It is a value of racing that we want to try and exercise and respect as much as we can, rather than having control from the pit wall every time our cars are close to each other," Stella said. He stressed the importance of giving Norris and Piastri the opportunity to race and achieve positions reflective of their performance by the season's end. Stella remarked that points should mirror the drivers' performance rather than any team orders. 'This is not necessarily a simple and straightforward exercise, but we want to try and do it as best as we can. So I don't foresee that today's incident will change our approach from this point of view. If anything, it will reinforce and strengthen that the principles we have require more caution from our drivers," he said. Piastri has won five out of the 10 races so far, compared to Norris' two, with 14 races remaining. The next race is in Austria on June 29. (with agency inputs) First Published: June 16, 2025, 20:28 IST
Indian Express
41 minutes ago
- Indian Express
Unemployment rate rises 50 bps to 5.6% in May due to seasonal factors
Seasonal factors drove up India's unemployment rate to 5.6 per cent in May from 5.1 per cent in April for persons aged 15 years and above, according to the statistics ministry's second-ever monthly Periodic Labour Force Survey (PLFS) report, released on Monday. The increase in the unemployment rate was larger for females, for whom the ratio rose by 80 basis points (bps) from April to 5.8 per cent in May. For males, the unemployment rate increased to 5.6 per cent from 5.2 per cent. May saw a larger increase in the unemployment rate in rural areas to 5.1 per cent, up from 4.5 per cent in April, while the corresponding increase for urban India was 40 bps. However, the unemployment rate was higher in urban areas at 6.9 per cent. The monthly jobs data is based on the Current Weekly Status (CWS) approach. Under this approach, the activity status of a person is measured for the seven days preceding the date of survey. The Ministry of Statistics and Programme Implementation (MoSPI) cautioned that a rise in the unemployment rate in May did not necessarily reflect 'secular trends' as changes were to be expected in the monthly data on account of increased frequency of the survey and seasonal, academic, and labour market factors. While the Unemployment Rate (UR) rose in May, the Labour Force Participation Rate (LFPR) fell to 54.8 per cent from 55.6 per cent the previous month at the all-India level for those aged 15 years and above. The LFPR for males declined by 40 bps to 77.2 per cent, while that for females fell by 100 bps to 33.2 per cent. The Worker Population Ratio (WPR), meanwhile, fell to 51.7 per cent from 52.8 per cent in April for persons aged 15 years and above. While the LFPR is the fraction of the population that is seeking or available for work, the WPR is the percentage of employed persons in the population. 'The decline in LFPR and WPR and the rise in UR were driven largely by seasonal agricultural patterns, higher summer temperature experienced in May in some parts of the country due to which physical outdoor work gets limited and movement of some unpaid helpers to domestic chores, especially in the higher income (top 3 decile) rural households,' MoSPI said in a statement. In rural areas, the LFPR fell by 110 bps to 56.9 per cent, with the decline in urban areas being smaller at 30 bps to 50.4 per cent, the data showed. The rural WPR declined similarly by 130 bps to 54.1 per cent in May for persons aged 15 years and above, while the urban WPR was down 50 bps at 46.9 per cent. The statistics ministry said the reduction in agricultural activities with the end of the rabi harvest season in the rural areas 'may have brought about the downward shift in number of workers', adding that employment in rural areas shifted away from agriculture (from 45.9 per cent in April to 43.5 per cent in May) to secondary and services sectors. Within the overall data, the segment to see the biggest increase in unemployment in May were young women in rural areas. In May, the unemployment rate for rural females in the 15-29 age bracket rose to 13 per cent from 10.7 per cent in April, with the corresponding increase for their urban counterparts being 70 bps to 24.4 per cent. For young males, the rise in unemployment was significantly smaller: from 13 per cent in April to 14 per cent in May in rural areas and from 15 per cent in April to 15.8 per cent in May in urban areas. On the whole, the unemployment rate for all persons aged 15-29 years rose 120 bps in May to 15.0 per cent at the all-India level. A total of 3.8 lakh persons were surveyed in May, roughly the same as in April. As part of the revamped survey design for the PLFS adopted in January, a rotational panel sampling design is being used. As part of this design, each selected household is visited four times in four consecutive months. This ensures that three-fourths of first-stage sampling units, or FSUs, are matched between two consecutive months. Siddharth Upasani is a Deputy Associate Editor with The Indian Express. He reports primarily on data and the economy, looking for trends and changes in the former which paint a picture of the latter. Before The Indian Express, he worked at Moneycontrol and financial newswire Informist (previously called Cogencis). Outside of work, sports, fantasy football, and graphic novels keep him busy. ... Read More
