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Business Standard
a day ago
- Business
- Business Standard
Inka Partners with Growfitter to Unveil AI-Powered Insurance Wellness Score
VMPL New Delhi [India], June 9: Inka, one of India's fastest-growing insurtech platforms, has entered into a strategic partnership with Growfitter, the country's leading health engagement platform, to co-develop the Inka Growfitter Insurance Wellness Score, a first-of-its-kind solution designed to link real-time wellness behaviour with personalised insurance insights. The collaboration aims to integrate Growfitter's smartwatch-driven health and lifestyle data with Inka's proprietary insurance and financial intelligence, offering users a unified view of their "insurance wellness." Once launched, the score will help users identify coverage gaps, assess risk based on their physical habits, and make smarter, preventive financial protection choices. "This partnership bridges two essential pillars of well-being, physical health and financial security," said Vaibhav Kathju, Founder & CEO of Inka. "We're making insurance intuitive, personalised, and proactive just like your health tracker." Echoing the sentiment, Sanmati Pande, Co-founder, CEO at Growfitter, added, "We've always believed that healthy habits should deliver real-world value. With Inka, we're transforming daily wellness activity into actionable insurance intelligence so users can protect what matters most." At the heart of Inka's innovation is its AI-powered insurance advisory platform, which delivers personalised, jargon-free coverage advice in under 60 seconds. Designed to simplify what is often a complex and overwhelming process, the conversational AI engine helps users discover the right insurance products tailored to their unique health and financial profiles, without delays, paperwork, or guesswork. Currently assisting over 300 Indians every day, the platform has already helped 25,000+ customers explore coverage close to Rs275 Crores, bringing a data-driven, user-first approach to insurance discovery and planning. "We see a future where AI isn't just a recommendation engine, but a lifelong insurance guide, proactively nudging users toward better protection as their lives evolve," said Vaibhav Kathju, Founder & CEO of Inka. The Inka-Growfitter partnership marks a key milestone in reshaping how Indians engage with insurance, making it more aligned with real-world behaviour, real-time health, and individual lifestyles. Furthering its mission to deepen insurance intelligence, through pioneering solutions and analytics, Inka is also in early discussions with Experian, one of India's leading credit information companies, to explore the development of predictive attributes that combine credit and insurance data for enhanced risk management. About Inka Inka is a next-generation insurance advisory platform that utilises AI, behavioural insights, and financial data to simplify how Indians discover and purchase insurance. With over 70,000+ registered users, Inka delivers personalised insurance advice in under 60 seconds, trusted by a growing community nationwide. About Growfitter Growfitter is India's largest incentivised wellness platform, encouraging active living through gamification, real-time tracking, and rewards. With over 2.5 million users, it connects health engagement with real-world benefits, now including smarter insurance decisions.
Time of India
02-05-2025
- Business
- Time of India
18% drop in property tax collection in April despite higher rebate offered by Nashik Municipal Corporation
Nashik: The civic body's property tax collection in the first month of the new financial year has declined by 18% to around Rs45 crore. This is compared to Rs55 crore property tax collected during April last year. The decline occurred despite a higher rebate of 8% offered by Nashik Municipal Corporation (NMC) to those who pay their annual property tax in one stroke in the first month of FY 2025-26 . Moreover, those paying off the entire annual property tax in May and June are also to be given 6% and 3% rebates, respectively. Further, NMC has introduced an additional 2% concession for those paying property tax online during the April-June period of the current fiscal. Civic officials said that last year, they sent messages to taxpayers to avail of the tax rebates. Employees of the property tax department also visited houses of taxpayers to inform them about the rebates. This yielded positive results, as NMC collected Rs55 crore in property tax in April 2024. This year, private agencies have been deployed for the distribution of property tax bills to the taxpayers from the beginning of the ongoing fiscal. Hence, department employees did not send messages to property taxpayers , which they claim led to a drop in the collection. "However, we are making efforts to appeal to all taxpayers to pay their annual tax in May and avail of the concessions. We are also planning to maintain the 8% rebate in May. The decision will be taken in a day or two," said an NMC official. In FY 2024-25, NMC collected Rs256 crore in property tax in total, even though the property tax collection target was Rs250 crore. NMC has set the property tax collection target of Rs275 crore for the ongoing FY 2025-26.
Express Tribune
27-03-2025
- Business
- Express Tribune
Gold prices hit record high in global, local markets
Listen to article Gold prices surged to record highs in both international and domestic markets on Thursday, driven by continued investor interest and global economic uncertainty. According to market reports, the international bullion rate rose by $31 per ounce, taking the price to $3,052, its highest level to date. In response, gold prices in Pakistan also witnessed a sharp rise. The price of 24-karat gold per tola increased by Rs3,200, reaching an all-time high of Rs321,000. Meanwhile, the rate for 10 grams of gold rose by Rs2,743, hitting Rs275,205. Bullion traders attributed the surge to strong demand, inflation concerns, and currency fluctuations. The local market continues to mirror global trends, with buyers seeking gold as a safe-haven asset.
Express Tribune
20-03-2025
- Business
- Express Tribune
SBP reserves rise $49m
Listen to article The State Bank of Pakistan's (SBP) foreign exchange reserves increased $49 million to $11.15 billion during the week ended March 14, 2025. With this, the country's total liquid foreign currency reserves reached $16.02 billion, of which $4.87 billion was held by commercial banks. In its statement released on Thursday, the central bank cited no reason for the increase in reserves. Financial industry players hope that Pakistan's reserves will increase further following the potential release of a second loan tranche of over $1 billion by the International Monetary Fund (IMF). The approval of IMF's first review under the $7 billion Extended Fund Facility will also unlock additional external financing from other multilateral creditors. Meanwhile, gold prices in Pakistan surged further, mirroring the upward trend in international markets. In the local market, the price of gold per tola rose Rs1,800, reaching a new high of Rs320,800. Similarly, 10-gram gold was priced at Rs275,034, higher by Rs1,543, according to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA). Thursday's rise follows an increase of Rs1,650 to Rs319,000 per tola a day ago. The international bullion rate also registered an uptick on Thursday, with prices climbing $12 to $3,050 per ounce (including a $20 premium), as reported by the APSGJA. Globally, gold prices eased after hitting a record high earlier in the session, but it had a bullish outlook driven by potential rate cuts signalled by the US Federal Reserve and ongoing geopolitical and economic uncertainties. Spot gold was down 0.4% at $3,036.13 an ounce due to profit-taking, after hitting a record high of $3,057.21. Trump, meanwhile, criticised the Fed's decision to hold rates, despite projections of two quarter-percentage-point cuts by year-end due to a weakening economic growth. Moreover, the Pakistani rupee remained mostly stable against the US dollar, recording a slight depreciation of 0.01% in the inter-bank market. By the end of trading, the rupee stood at 280.23, down just two paisa compared to the previous day's close at 280.21. The SBP conducted an open market operation through a reverse repo (injection) on Thursday. A total of around Rs888 billion was offered, which was fully accepted at a rate of 12.06% per annum for an eight-day tenor. The central bank received nine bids, all of which were accepted. This liquidity injection is aimed at stabilising market conditions and ensuring adequate cash flow within the financial system. Furthermore, the Central Directorate of National Savings (CDNS) revised upwards profit rates for various National Savings Schemes. The Short-Term Saving Certificate saw a 15-basis-point (bps) hike, with the return reaching 10.96% from 10.81%. For the Defence Saving Certificate, a marginal 1bps increase was made as it offered a return of 12.15%, up from 12.14%. Similarly, returns on the Pensioner Benefit Account, Behbood Savings Certificate and Shuhada Family Welfare Account were increased by 10 bps to 13.68% each. The Sarwa Islamic Term Account and the Sarwa Islamic Saving Account saw a more significant rise of 70 bps, with returns climbing from 9.74% to 10.44%. However, the Saving Account rate was reduced by 100 bps, from 11.5% to 10.5%.
Express Tribune
20-03-2025
- Business
- Express Tribune
Gold prices skyrocket as global, local markets hit new peaks
Listen to article Gold prices surged to historic highs in both international and local markets on Thursday, driven by sustained global demand, inflation concerns, and large-scale purchases by various governments. According to market reports, the persistent rise in gold prices is setting new records daily, with investors turning to the precious metal as a safe-haven asset. In the international bullion market, the price of gold per ounce increased by $12, reaching an all-time high of $3,050. The impact was immediately reflected in Pakistan's local markets, where the price of 24-carat gold per tola jumped by Rs1,800, reaching a record Rs320,800. Similarly, the price of 10 grams of 24-carat gold rose by Rs1,543, setting a new high at Rs275,034. Meanwhile, silver prices experienced a decline. The price of one tola of silver dropped by Rs31, settling at Rs3,524, while the rate for 10 grams fell by Rs26 to Rs3,021. Market analysts attribute the rising gold prices to ongoing economic instability and increasing global interest in gold as a hedge against inflation.
