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All-round performance continues

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Quarterly net profit of ₹293 crore; RoA at 4.1%/ RoE at 29.7%**;

Deposits up 49% Y-o-Y/ 14% Q-o-Q; Retail Deposits up 72% Y-o-Y/ 15% Q-o-Q;

Gross loan book up 33% Y-o-Y/ 5% Q-o-Q; PAR at 4.9%; GNPA/NNPA at 3.4%/0.05%

Bengaluru, Thursday, February 02, 2023: Ujjivan Small Finance Bank ltd. [BSE: 542904; NSE: UJJIVANSFB], today announced its financial performance for the nine month and quarter ended December 31, 2022

Summary of Ujjivan Small Finance Bank Business Performance – Q3 FY 2022-23

  • Gross loan book at ₹21,895* crore up 33% Y-o-Y and 5% Q-o-Q
  • Disbursements sustaining ₹4,000+ crore mark – ₹4,838 crore in line with Q3FY22; Dec’22 witnessed highest ever disbursement
  • Deposits at ₹23,203 crore as of Dec’22 up by 49% Y-o-Y; Retail deposits at 62% of total deposits against 53% as of Dec’21; CASA ratio at 26.2% in Dec’22 vs 26.5% in Dec’21. Healthy retail liability customer acquisition
  • Continued traction on Collections with ~100% efficiency in Dec’22; NDA collection consistently at ~100% 
  • Portfolio at risk at 4.9% as of Dec’22* vs 6.1% as on Sep’22
  • GNPA/ NNPA declined to 3.4% / 0.05%#* as of Dec’22 against 4.4% / 0.04%#* respectively as of Sep’22; total of ₹ 179 crore written-off in Q3FY23; Provision coverage ratio as on Dec’22 is 99%#
  • Substantial reduction in restructured book; constitutes 1.4% of gross loan book* with provision cover of 64% and collection efficiency of 98% in Dec’22
  • Net Interest Income of ₹697 crore up 54% Y-o-Y; Net interest margin at 9.4%* in Q3FY23 against 9.1% in Q3FY22
  • Operating expenses to average assets at 6.2%; Cost to Income ratio at 53.5% in Q3FY23 vs 72% in Q3FY22
  • PPoP at ₹389 crore vs ₹ 154 crore in Q3FY22; PAT of ₹293 crore vs ₹(34) crore Y-o-Y
  • Capital adequacy ratio at 26.02% with Tier-1 capital at 22.84%; Provisional LCR at 198% as of Dec’22

Mr. Ittira Davis, MD & CEO, Ujjivan Small Finance Bank said, “Q3FY23 was another successful quarter in a row with our balance sheet size crossing the 30K mark this quarter. Overall disbursements for the quarter remained strong driving 5% Q-o-Q growth in gross loan book*. Deposit growth outpaced assets growth taking out CD ratio toward more comfortable levels. We continued to expand our physical presence; this quarter we added 8 branches and also entered into a new state – Telangana. We will look to add few more branches in Q4 and 50-70 in FY24. We would continue to leverage our digital capabilities in addition to brick and mortar. Our mobile application “Hello Ujjivan” will help us bring more of our customers into digital ecosystem. Also, we continue to expand our product suite to be more relevant to our target customers and have larger share of their wallet. Through our wider presence, product suite and services, we not only look to strengthen relationship with our existing base of 73 lakh customers, but also be acquiring new relationships. 

Update on Reverse Merger: On February 01, 2023, we have received the NOC from RBI; the process is on track and we believe to complete the reverse merger by Sep’23 

FY23, continue to be a good quarter in multiple ways as we pulled back from a rough patch; lower credit cost and higher bad-debt recoveries added to the tailwind. Going ahead while credit cost would normalise, our underlying business remains strong and poised to grow at a healthy rate. Overall, we remain confident of the business growth and our journey towards becoming a leading mass-market bank.”

City Today News – 9341997936

Protest Under the banner of AICCTU BY Illegally terminated workers of Yazaki India Pvt Ltd plant of Lakkenahalli of Ramnagara

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Illegally terminated workers of Yazaki India Pvt Ltd plant of Lakkenahalli of Ramnagara district of Karnataka have been staging a protest under the banner of AICCTU outside the factory gate since 26th December. Last month, about 153 workers were illegally and abruptly terminated by this unit. Yazaki is a Japan based company that manufactures automobile wiring equipment.

Besides the termination without notice, the workers are plagued with myriad other issues as Yazaki does not concern itself much with sticking to legal labour practices. It employs about 1500 workmen in this manner, terming them “trainee operator” who in fact perform core jobs which are the same as the permanent workers. These workers have all been working continuously for various periods extending to three years. These workers are also denied other benefits extended to the permanent workmen, including production incentive, leave facilities, bonus, shoes/uniforms etc. These workers do overtime work without double the pay and are forced to work for continuous double (16 hours) or sometimes even triple (24 hours) shifts. The list continues.

The factory was initially in Bangalore district in the outskirts, later shifted to Ramnagara in January, 2022. At this time, all the workers were also shifted to the new unit. They were given assurances that they would be continued in work, and their salary would be increased and that they would eventually be made permanent workmen. These workers are mostly intra-state migrants hailing from Gulbarga, Belgaum, Chikkamagaluru, and other districts of Karnataka.

53 workers were not able to punch-out after their shift in the biometric attendance machine on the night of 13.12.2022. Shockingly, on presenting themselves to the factory on 14.12.2022 at 6.00 am, these workers were told by the HR Assistant of the management that they have been terminated. About 100 other workers who saw what was happening to the 53 workers came in solidarity with them and were sacked.

Due to the pressure built by the movement, management was forced to assure in a conciliation meeting with the Deputy Labour commissioner (DLC) that all the workers will be taken back. As of now around 30 workers have been called back for work. However, inspite of recorded assurances, there is no more progress in taking the workers back since the last three weeks. It is becoming increasingly difficult for them to survive without a salary as they are mostly from different districts of Karnataka. Currently, the demand is to complete the process of reinstating all the workers immediately, as assured.

– Karanataka General Labour Union (Yazaki Unit) AICCTU

City Today News – 9341997936

Samsung Launches Galaxy S23 Series in India; Pre-book Now for Exciting Offers.  

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GURUGRAM, India – February 2, 2023 – Samsung, India’s largest consumer electronics brand, today opened pre-booking for its new Galaxy S23 Series across online and offline retail stores in the country. Galaxy S23 Ultra, Galaxy S23+ and Galaxy S23 devices are a generational leap, with best in class innovation that have significantly less environmental impact.

The Galaxy S23 smartphones have been designed to re-invent premium experiences like never before. Galaxy S23 series comes with groundbreaking camera capabilities, which allow consumers to capture photos and videos in any lighting condition using both rear and front camera, a future-ready mobile gaming experience & a planet-friendly device using twice the recycled materials than before.

Galaxy S23 Ultra comes with all-new 200MP sensor with adaptive pixels which can capture images with epic details. With the Super Quad Pixel AF, the rear camera can focus on subjects 50% faster. The front camera on Galaxy S23 series now come with Dual Pixel auto focus technology along with Nightography, which allows shooting from the front camera even in low lighting conditions. The Dual Pixel auto focus technology also ensures 60% faster focus from the front camera.

Videos on Galaxy S23 series get more cinematic with Super HDR, Enhanced Noise control algorithm and 2X wider OIS for smoother & sharper output during the night.

Galaxy S23 series comes with custom designed Snapdragon® 8 Gen 2 Mobile Platform for Galaxy to deliver the world’s fastest mobile graphics. Galaxy S23 series comes with up to 2.7x larger vapor cooling chamber for reliable gaming performance.

Galaxy S23 series takes the mobile gaming experiences to epic levels. Galaxy S23 Ultra supports real-time ray tracing as it comes to mainstream mobile gaming. Users will be able to see noticeably more lifelike renderings of scenes, with technology that simulates and tracks every ray of light.
Galaxy S23 series is designed keeping the planet in mind. Galaxy S23 series is manufactured using recycled materials, including pre-consumer recycled aluminum, recycled glass, and post-consumer recycled plastics sourced from discarded fishing nets, water barrels and polyethylene terephthalate (PET) bottles. Galaxy S23 series come with Gorilla Glass Victus2 on both front & back along with armor aluminum frame.
Galaxy S23 series will get four generations of OS upgrades and five years of security updates. Galaxy S23 series comes with Samsung Knox protection, which has received more government and industry certifications than any other mobile device, platform, or solution on the market.

Price and Availability
Pre-book for Galaxy S23 series starts from February 2 across all leading online and offline retail stores. Consumers can also pre-book on Samsung Live at https://www.samsung.com/in/live-offers/ starting on Feb 2, 2023.

Galaxy S23 Ultra (12/1TB) INR 154999 Phantom Black, Cream, Green
Galaxy S23 Ultra (12/512GB) INR 134999
Galaxy S23 Ultra (12/256GB) INR 124999
Galaxy S23+ (8/512GB) INR 104999 Phantom Black, Cream
Galaxy S23+ (8/256GB) INR 94999
Galaxy S23 (8/256GB) INR 79999 Phantom Black, Cream, Green, Lavender
Galaxy S23 (8/128GB) INR 74999

Galaxy S23 Ultra will be available in four attractive colours- Red, Graphite, Lime and Sky Blue -only on Samsung.com.

Prebook Offers

Customers pre-booking Galaxy S23 Ultra can get Galaxy Watch4 LTE Classic and Galaxy Buds2 at a special price of INR 4999. Customers pre-booking Galaxy S23+ will get Galaxy Watch4 BT at a special price of INR 4999. Customers pre-booking Galaxy S23 can get storage upgrade offer worth INR 5000. Additionally, all consumers can avail Bank cashback worth INR 8000 on online channels. Those who prebook Galaxy S23 series during Samsung Live on February 2, 2023 will get additional gift of Wireless Charger and Travel Adaptor.  Customers pre-booking Galaxy S23 series during “Samsung Live” event on February 2 at https://www.samsung.com/in/live-offers/ will get an additional exclusive gift of a Wireless Charger & Travel Adapter.

City Today News – 9341997936

Doctors claim that obesity can cause cancer.

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BENGALURU / February 2, 2023: Obesity can lead to the development of 13 different types of cancer. People with obesity or severe obesity are 1.5 to 4 times at risk of developing cancers like Oesophagus, Stomach, Liver, Pancreas, Colorectal, Gallbladder, Kidney, and Thyroid. This was said by Dr. Tausif Ahmed Thangalvadi, Medical Director at NURA, a collaboration between Fujifilm Healthcare and Dr Kutty’s Healthcare offering AI-enabled imaging in Bengaluru, highlighting key findings from a Working Group document of International Agency for Research on Cancer (IARC).

“Research has shown that obese women also face the impact of reproductive organ cancers like Endometrial (4-7 times the risk compared to non-obese women), breast cancer (1.5 times) and ovarian cancer (1.1 times). Breast cancer and colorectal cancer are the most common obesity related cancers in women and men, respectively, with 30% higher risk compared to non-obese people. A 2019 global study found that obesity related cancers accounted for nearly 4% of the global burden of cancers,” Dr. Tausif Ahmed Thangalvadi said.

The correlation between obesity and cancer is worrying, considering that India is suffering from an obesity epidemic, with nearly 7 crore people affected with morbid obesity. As per an ICMR-INDIAB study published in 2015, the prevalence rate of obesity in India ranges from 12 to 30% and of central obesity from 16 to 36%. As per UNICEF’s World Obesity Atlas 2022, India is predicted to have 2.7 crore children with obesity by 2030.

Said Dr. Tausif Ahmed Thangalvadi: “There are many ways in which obesity can increase the risk of cancer. Fat tissue in the human body releases excess levels of oestrogen, which in women leads to an increased risk of Breast, Endometrial and Ovarian cancer. High levels of Insulin and Insulin-like growth factor (IGF-1) in obese people increases risk of colorectal, kidney and prostate cancer. Obesity also leads to chronic inflammation and oxidative stress on tissues, further increasing the risk of cancers.”

“Over the last two years, we at NURA have screened more than 6,000 healthy asymptomatic people. Nearly 70% of them had visceral fat levels above the accepted threshold of 100 cm, with nearly half found to have severe obesity with visceral fat levels above 160 cm. Men were twice as likely to have excess visceral fat compared to women,” he added. 

The doctor suggested many preventive measures for obesity-related cancers. “The first step is to reduce weight. In a 2019 study published in the JNCI cancer spectrum journal, it was noticed that people who lost 5% of their body weight had a much lesser risk of obesity-related cancer, especially endometrial cancer. The same was found true for breast cancer in a 2020 study. Yet another study in 2019 found that people who underwent bariatric surgery for morbid obesity were found to have a reduced risk of breast, prostate, and colorectal cancers. Following a healthy diet plan, regular exercise, and screening regularly for obesity and cancer can further help reduce risk of obesity and cancers,” said Dr. Tausif Ahmed Thangalvadi.

NURA offers multiple screening tests not only for cancers but also for obesity. For cancers, NURA uses a combination of ultra-low dose CT scans, tumour markers and procedures like mammography, colposcopy, and FIT kit to detect many types of cancers early, including Lung, Colorectal, Oral, Prostate, Liver, Kidney, Pancreas, Breast, Cervix and Ovarian cancers.

For obesity, NURA uses ultra-low dose CT scan to accurately measure visceral fat. It also uses the DEXA scan to give fat-muscle ratio and distribution, giving people key information to focus on their exercise and fat reduction plans.

City Today News – 9341997936

ನಮ್ಮವರೇ ಆದ, ನಮ್ಮದೇ ರಾಜ್ಯದಿಂದ ರಾಜ್ಯಸಭೆಗೆ ಆಯ್ಕೆಯಾದ ವಿತ್ತ ಮಂತ್ರಿ ನಿರ್ಮಲಾ ಸೀತಾರಾಮನ್ ಅವರು ರಾಜ್ಯಕ್ಕೆ ಚುನಾವಣೆ ಕಾಲದಲ್ಲಾ ದರೂ ಸಮಗ್ರವಾಗಿ ಬಂಪರ್ ಕೊಡುಗೆ ನೀಡುತ್ತಾರೆಂದು ನಿರೀಕ್ಷೆ ಹುಸಿಯಾಗಿದೆ – ಟಿ.ಎ.ಶರವಣ, ಜೆಡಿಎಸ್ ಶಾಸಕಾಂಗ ಪಕ್ಷದ ಉಪನಾಯಕರು

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ಕೇಂದ್ರ ಸರಕಾರದ ಚುನಾವಣೆ ಕಾಲದ ಬಜೆಟ್ನಲ್ಲಿ ಕರ್ನಾಟಕಕ್ಕೆ ಭದ್ರಾ ಮೇಲ್ದಂಡೆ ಯೋಜನೆಯನ್ನು ರಾಷ್ಟ್ರೀಯ ಯೋಜನೆಯಾಗಿ ಘೋಷಿಸಿ 5300ಕೋಟಿ ರೂಪಾಯಿ ಬಿಡುಗಡೆ ಮಾಡಿರುವ ಕ್ರಮ ಸ್ವಾಗತಾರ್ಹ ವಾಗಿದೆ. ಆದರೂ ರಾಜ್ಯಕ್ಕೆ ಚುನಾವಣೆ ಕಾಲದಲ್ಲಾದರೂ ಇನ್ನಷ್ಟು ಹೊಸ ಯೋಜನೆಗಳು ಬರಬಹುದು ಎಂಬ ನಿರೀಕ್ಷೆ ಹುಸಿಯಾಗಿದೆ.
ಮೂಲಭೂತ ಸೌಕರ್ಯ, ನಿರುದ್ಯೋಗ ನಿವಾರಣೆ, ನಗರಾಭಿವೃದ್ದಿ ವಿಚಾರದಲ್ಲಿ ಕೋಟ್ಯಂತರ ರೂಪಾಯಿ ಹಣವನ್ನು ಮೀಸಲಿಡಲಾಗಿದೆ ಆದರೂ, ಕರ್ನಾಟಕದ ಬಗ್ಗೆ ಸ್ಪಷ್ಟ ಚಿತ್ರಣವಿಲ್ಲದ ಬಜೆಟ್ ಇದಾಗಿದೆ.
ರಾಜ್ಯದ ಮಹತ್ವಾಕಾಂಕ್ಷೆಯ ಯೋಜನೆಗಳಾದ ಮಹದಾಯಿ, ಮೇಕೆದಾಟು ಯೋಜನೆಗಳ ವಿಚಾರದಲ್ಲಿ ಬಜೆಟ್ ಯಾವ ಸ್ಪಂದನೆಯನ್ನು ನೀಡಿಲ್ಲ.
ಈ ನಿಟ್ಟಿನಲ್ಲಿ ರಾಜ್ಯದ ಒತ್ತಡಕ್ಕೆ ಕೇಂದ್ರ ಮಣಿದಿಲ್ಲ. ಜೊತೆಗೆ ಪ್ರಧಾನಿ ನರೇಂದ್ರ ಮೋದಿ, ಮುಖ್ಯಮಂತ್ರಿ ಬಸವರಾಜ ಬೊಮ್ಮಾಯಿ ಅವರು ಹೇಳುವ ರೀತಿ ಡಬಲ್ ಇಂಜಿನ್ ಸರಕಾರದ ಸಾಧನೆ , ಸಮನ್ವಯತೆ ಸುಳ್ಳು ಎನ್ನುವುದು ಮೇಲ್ನೋಟಕ್ಕೆ ಸಾಬೀತಾಗಿದೆ.
ಎತ್ತಿನ ಹೊಳೆ ಯೋಜನೆಯ ಬಗ್ಗೆಯೂ ಸರಕಾರ ಚಕಾರವೆತ್ತಿಲ್ಲ.
ಇನ್ನು ರಾಜ್ಯದ ಮಹತ್ವಾಕಾಕ್ಷೆಯ ರೈಲ್ವೆ ಯೋಜನೆಗಳ ಬಗ್ಗೆ ನಿರ್ದಿಷ್ಟ ಭರವಸೆಗಳು ಈಡೇರಿಲ್ಲ. ಅದರಲ್ಲೂ ವಿಶೇಷವಾಗಿ ಕಳೆದ ಬಜೆಟ್ನಲ್ಲಿ ಘೋಷಿಸಿದ ಬೆಂಗಳೂರು ಸಬರ್ಬನ್ ರೈಲ್ವೆ ಯೋಜನೆಗೆ ಯಾವುದೇ ನಿರ್ದಿಷ್ಟ ನೆರವಿನ ಪ್ರಸ್ತಾಪವಿಲ್ಲ.
ಇನ್ನು ಮುಖ್ಯವಾಗಿ ರೈತರ ವಿಚಾರದಲ್ಲಿ ಕೇಂದ್ರ ಸರಕಾರ ಈ ಬಜೆಟ್ ನಲ್ಲಿ ಯಾವುದೇ ಮಹತ್ತರ ಕೊಡುಗೆ ನೀಡಿಲ್ಲ.
ರೈತರ ಖಾತೆಗೆ ನೇರವಾಗಿ ರವಾನಿಸುವ 6ಸಾವಿರ ರೂಪಾಯಿ ಹಣವನ್ನು ಹೆಚ್ಚಿಸುವ ನಿರೀಕ್ಷೆ ಹುಸಿಯಾಗಿದೆ.
ಸಿರಿಧಾನ್ಯ ಅಭಿವೃದ್ದಿ ಬಗ್ಗೆ ಘೋಷಣೆ ಹೊರಡಿಸಲಾಗಿದೆಯದರು, ಹೊಸ ರೀತಿಯಲ್ಲಿ ಅದರ ಬೆಳೆಗಾರರಿಗೆ ಸ್ಥಿರತೆ ತಂದುಕೊಡುವ ನಿಟ್ಟಿನಲ್ಲಿ ಕನಿಷ್ಠ ಬೆಂಬಲ ಬೆಲೆ ವ್ಯಾಪ್ತಿಯಲ್ಲಿ ತರುವ ಬಗ್ಗೆ ರಾಷ್ಟ್ರೀಯ ನೀತಿಯನ್ನು ಘೋಷಿಸುವಲ್ಲಿ ಈ ಬಜೆಟ್ ವಿಫಲ ಆಗಿದೆ.
ರಾಜ್ಯಕ್ಕೆ ಯೋಜನಾ ಆಯೋಗದ ಶಿಫಾರಸಿನಂತೆ ಹೆಚ್ಚುವರಿ ಅನುದಾನ ನೀಡುವ ವಿಚಾರದ ಬಗ್ಗೆಯೂ ಈ ಬಜೆಟ್ ನಲ್ಲಿ ಯಾವುದೇ ಪ್ರಸ್ತಾಪ ಇಲ್ಲ.
ಒಟ್ಟಾರೆ..ನಮ್ಮವರೇ ಆದ, ನಮ್ಮದೇ ರಾಜ್ಯದಿಂದ ರಾಜ್ಯಸಭೆಗೆ ಆಯ್ಕೆಯಾದ ವಿತ್ತ ಮಂತ್ರಿ ನಿರ್ಮಲಾ ಸೀತಾರಾಮನ್ ಅವರು ರಾಜ್ಯಕ್ಕೆ ಚುನಾವಣೆ ಕಾಲದಲ್ಲಾ ದರೂ ಸಮಗ್ರವಾಗಿ ಬಂಪರ್ ಕೊಡುಗೆ ನೀಡುತ್ತಾರೆಂದು ನಿರೀಕ್ಷೆ ಹುಸಿಯಾಗಿದೆ ಎಂದು ವಿಧಾನ ಪರಿಷತ್ ಶಾಸಕರು ಹಾಗು ಜೆಡಿಎಸ್ ಶಾಸಕಾಂಗ ಪಕ್ಷದ ಉಪನಾಯಕರಾದ ಟಿ.ಎ.ಶರವಣ ರವರು ಕೇಂದ್ರ ಬಜೆಟ್ ಸಂಬಂಧಿಸಿದಂತೆ ಪ್ರತಿಕ್ರಿಯೆ ನೀಡಿದ್ದಾರೆ.

City Today News – 9341997936