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Business Standard
4 days ago
- Business
- Business Standard
Godrej Capital eyes 2-fold AUM rise by FY28, rules out capital infusion
Over the next two years -- FY27 and FY28 -- it plans to nearly double the AUM to ₹50,000 crore, its managing director and chief executive Manish Shah said Non-bank lender Godrej Capital's assets under management have grown to about ₹18,000 crore. Press Trust of India Mumbai Non-bank lender Godrej Capital's assets under management have grown to about ₹18,000 crore, and the company is targeting to close FY26 at over ₹25,000 crore, a top official has said. Over the next two years -- FY27 and FY28 -- it plans to nearly double the AUM to ₹50,000 crore, its managing director and chief executive Manish Shah told PTI. The company, in which parent Godrej Industries owns over 90 per cent stake, has sufficient capital right now as most of the capital committed by the group has already come in, he said. "Until such time as we list, the capital will come from the group. Most of it we have already received. We don't need a lot more capital over the next few years," Shah said. The parent firm has infused an additional Rs 285 crore into the company to increase its stake by 1.41 per cent to a total of 90.89 per cent. Shah said the company is also delivering profits now, which can be reploughed back into the business for asset growth, but made it clear that the ultimate aim of the company is to list on exchanges like its fellow group companies such as Godrej Properties. At present, about Rs 3,000 crore of assets, or about a sixth of the overall AUM, has been sourced from group companies, Shah said, adding that this reliance will keep going down over time. Godrej Capital is looking at entering into the supply chain finance segment, and this is where it may go into fellow group companies for help in sourcing customers looking for finance, he said. As per a recent regulatory disclosure, its consolidated income grew to Rs 1,620 crore in FY25, from Rs 889.14 crore in the year-ago period. Shah, who was speaking on the sidelines of a company event to announce a partnership with customer relationship management company Salesforce, said it is very difficult for businesses to get the technology architecture right. Service of the customer should be the first motivation while embarking on a technology journey, he said, adding that a right balance by keeping in mind requirements like data privacy can ensure a win-win for all stakeholders. It is taking Salesforce's help to streamline its front end used by the customer facing executives, Shah said, adding that the core system on which the company runs remains intact. Salesforce will be helping Godrej put the necessary digital lending infrastructure which will make loan processing faster and improve the customer experience, the CRM company's president and chief executive for south Asia Arundhati Bhattacharya said. Replying to concerns on AI taking up jobs, Bhattacharya said Indians should not resist such a technology transition but leap into it instead. She said there will be some pain as AI's adoption increases, but added that she does not believe AI will lead to less jobs. However, the nature of jobs may undergo a change, the career SBI banker who joined Salesforce after retiring as chairman, said.
Time of India
5 days ago
- Business
- Time of India
Salesforce to advance AI-led processes for godrej capital's lending business
Godrej Capital, the financial services arm of the Godrej Industries Group, and Salesforce, the #1 AI CRM*, today announced a strategic collaboration to deepen Godrej Capital's subsidiaries' technology edge in digital lending infrastructure and drive superior customer experience across its portfolio in India. Deloitte India has been onboarded as the implementation partner for this initiative, facilitating seamless integration and accelerated deployment of Salesforce's advanced platforms across Godrej Capital's lending for its consistent focus on innovation and early adoption of GenAI-driven solutions, this collaboration with Salesforce reflects a shared vision to build a future-ready, digitally agile lending ecosystem. With Deloitte's proven expertise in delivering large-scale technology transformations, the partnership is expected to significantly enhance operational agility, customer experience, and risk intelligence across the company's product portfolio. As a part of this collaboration, the company is enhancing its lending infrastructure by consolidating its Loan Origination System (LOS) into best-in-class AI-driven platforms, powered by Salesforce, across its entire product line, alongside its existing core customer relationship management (CRM) platform. This modernized infrastructure enables the delivery of highly intelligent, seamless, and personalized lending journeys - right from initial application to disbursement. These enhancements are aimed at further improving turnaround times, driving accuracy, and strengthening credit delivery for individuals and enterprises across India. By leveraging Salesforce's AI-driven insights, the company is creating a more agile, data-lending process to support smarter cross-selling strategies, sharpen risk management, and deliver more tailored experiences at scale. With a unified 360-degree view of customers across products, channels, and touchpoints, the company is well-positioned to continue offering exceptional customer service, operational agility, and minimized manual interventions across its lending lifecycle. Comments on the news: Manish Shah, MD & CEO, Godrej Capital , said, 'At Godrej Capital, our technology-first approach and ongoing investments in GenAI have been key to how we scale financial solutions. Our continued association with Salesforce, a global leader in AI-driven platforms complements these efforts, enabling us to deliver even smarter credit experiences, improve operational efficiency, and create new opportunities for personalization and speed. More importantly, this partnership reflects our shared focus on applying technology to solve real-world challenges in financial services and supporting India's broader economic growth through a more inclusive, agile lending ecosystem.' Arundhati Bhattacharya, President and CEO, Salesforce - South Asia , shared, 'The financial services industry is at a defining moment — where technology is not just enhancing systems, but fundamentally reshaping how institutions engage, decide, and serve their customers. In a digital-first world, the future will belong to those who lead with intelligence, agility, and trust. AI is central to this shift - enabling faster decisions, deeper customer insight, and more personalized engagement at scale. Godrej Capital stands out as a bold innovator in this space - combining a strong customer-first ethos with a digital-first mindset. As they reimagine credit delivery not only for India's MSMEs but for every borrower, entrepreneur, and household that fuels the country's growth, we're proud to support their journey with a unified, AI-powered platform that brings together data, intelligence, and speed to unlock the next frontier of inclusive growth.' Ashwin Ballal, Partner, Deloitte India , added, 'We are pleased to partner with Godrej Capital on this ambitious transformation. The integration of Salesforce's AI-led platforms, combined with Godrej Capital's digital-first vision, presents a tremendous opportunity to reshape lending experiences in India. Our deep domain knowledge, proven implementation capabilities, and global best practices will support Godrej Capital in building an agile, scalable, and future-ready digital infrastructure that delivers real business impact.' With an expanding footprint, Godrej Capital continues to invest in scalable, future-ready technology. Its in-house teams are driving GenAI-led solutions across functions to enhance efficiency. Strengthening this, SAKSHAM, the company's enterprise-grade GenAI and ML platform, centralises AI development, enables secure LLM integration, and simplifies governance to deliver intelligent, customer-centric solutions for the evolving BFSI landscape. As part of the ongoing product innovation, Salesforce continues to expand the boundaries of enterprise AI with Agentforce — the Salesforce Platform that enables companies to build and deploy AI agents capable of autonomously taking action across business functions. Agentforce represents the next evolution of Salesforce — a platform where AI agents work alongside humans to create a digital workforce that amplifies human potential and delivers results with unmatched speed and intelligence. *Salesforce, the #1 CRM , powered by AI technology and capabilities .
Hindustan Times
25-06-2025
- Health
- Hindustan Times
World Vitiligo Day 2025: Know the 5 common myths to fight misinformation and reduce stigma
World Vitiligo Day: June 25 is observed as World Vitiligo Day. This day is dedicated to raising awareness about vitiligo with science-backed facts to debunk stigmas and stereotypes. The theme for 2025 is 'Innovation for Every Skin, Powered by AI,' indicating the rise of AI in the diagnosis and treatment of the skin conditions. There are many myths surrounding vitiligo that need to be debunked urgently to ensure people with vitiligo have a good quality of life.(Shutterstock) HT Lifestyle reached out to experts to debunk common misconceptions around vitiligo with science-backed facts and share skincare tips for daily management. People with vitiligo are often subjected to negative judgments, social exclusion and outright poor treatment because there is a lack of awareness about this skin condition.(Shutterstock) Vitiligo is often stigmatised, and much of that stigma originates from a place of ignorance and a lack of proper physiological understanding of this skin condition. Dr Manish Shah, senior consultant paediatric dermatology at Narayana Health SRCC Children's Hospital in Mumbai, shared with HT Lifestyle the common myths. First, he elaborated the basics, explaining the basics of vitiligo. Dr Shah said, 'The milky white patches in this condition occur due to loss of function of the pigment-producing cells of the skin, called melanocytes. But there are many wrong notions as to why this malfunctioning of melanocytes happens.' It is important to dispel all the misconceptions with the help of science. Dr Shah shared these myths, debunking them with medical facts: Myth 1: Vitiligo is the white version of leprosy This is the reason why leprosy is also called 'safed kodh'. Facts: Vitiligo and leprosy both can cause pale spots, but they appear completely different. A dermatologist can comfortably differentiate the two. Leprosy is a bacterial infection which affects the skin and nerves. It is associated with loss of sensation and, if left untreated, deformities can occur which affects the skin and nerves. It is associated with loss of sensation and, if left untreated, deformities can occur Vitiligo is mostly autoimmune in nature. This means that the body's immunity starts acting against its own melanocytes. Myth 2: Vitiligo is contagious Touching, sharing food, or close contact is believed to spread it. Fact: Vitiligo is not contagious because it is an autoimmune disease. Myth 3: It is caused by eating certain foods or food combinations Patients are forced to make drastic changes in their diet. These range from stopping all white foods, to not combining milk with sour food, milk or onions. Fact: Diet has no role in vitiligo causation. A balanced diet with a mix of nutrients is the best diet for vitiligo. Myth 4: Vitiligo is inherited, and all future progeny of affected patients will be afflicted This poses major challenges for marital prospects among vitiligo patients Facts: While it can run in families, the inheritance pattern is not straightforward. The risk for vitiligo in the general population is around 0.5% to 2%. The risk could be between 7% to 10% if a parent has vitiligo. Myth 5: Vitiligo is incurable Facts: There are excellent treatment options for vitiligo if started early. Once melanocytes are destroyed, the prognosis for repigmentation becomes poor. Topical medications, phototherapy and surgical procedures are all good options, based on the type and extent of vitiligo. Dr Shah also addressed the more backwards myths that are rooted in blind stereotypes and social biases. She said, 'Then there are assorted myths surrounding vitiligo, many of which don't even merit discussion. These include beliefs such as vitiligo is a punishment for past sins (karma), it occurs due to poor hygiene, religious rituals like tying a thread can magically cure it, it affects only certain communities or people from lower castes, or that it is caused by a reaction to medication.' Skincare for vitiligo People with vitiligo need to modify their skincare as they are more vulnerable to sun exposure's UV damage.(Shutterstock) While myths are clouding people's judgment, good skincare is the first step toward managing vitiligo and regaining confidence. Skincare also helps in the daily management of vitiligo. Dr Rinky Kapoor, Celebrity Dermatologist and Co-founder of The Esthetic Clinics, shared with HT Lifestyle that vitiligo care is also about protecting the skin, especially from sun damage. She said, 'From a clinical perspective, skincare must be personalised and holistic. Daily use of gentle, fragrance-free moisturisers and broad-spectrum sunscreens is essential, as vitiligo-prone skin is more sensitive to sun damage. Equally important are emerging treatments that target the immune system's role in depigmentation. Recent global studies, including our 2025 meta-analysis on JAK inhibitors published in Dermatological Reviews, show that topical therapies like ruxolitinib, especially when combined with narrow-band UVB phototherapy, can lead to significant repigmentation with minimal side effects.' ALSO READ: Struggling with jaw and chin acne? Dermatologist says it could be hormonal, shares 5 ways to treat them Note to readers: This article is for informational purposes only and not a substitute for professional medical advice. Always seek the advice of your doctor with any questions about a medical condition.
CNBC
21-06-2025
- Business
- CNBC
Walmart to pay $10 million to settle lawsuit over money transfer fraud
Walmart has agreed to pay $10 million to settle a U.S. Federal Trade Commission civil lawsuit accusing the world's largest retailer of ignoring warning signs that fraudsters used its money transfer services to fleece consumers out of hundreds of millions of dollars. The settlement was filed on Friday in Chicago federal court, and requires approval by U.S. District Judge Manish Shah. Walmart also agreed not to process money transfers it suspects are fraudulent, or help sellers and telemarketers it believes are using its services to commit fraud. "Electronic money transfers are one of the most common ways that scammers tell consumers to send them money, because once it's sent, it's gone for good," said Christopher Mufarrige, director of the FTC consumer protection bureau. "Companies that provide these services must train their employees to comply with the law and work to protect consumers." The Bentonville, Arkansas-based retailer did not admit or deny wrongdoing in agreeing to settle. Walmart did not immediately respond to requests for comment. In its June 2022 complaint, the FTC accused Walmart of turning a blind eye to fraudsters who used its money transfer services to cash out at its stores. Walmart acts as an agent for money transfers by companies such as MoneyGram, Ria and Western Union. Money can be hard to trace once delivered. The FTC said fraudsters used many schemes that included impersonating Internal Revenue Service agents, impersonating family members who needed money from grandparents to avoid jail, and telling victims they won lotteries or sweepstakes but owed fees to collect their winnings. Shah dismissed part of the FTC case last July but let the regulator pursue the remainder. Walmart appealed from that decision. Friday's settlement would end the appeal. The case is .
Business Times
21-06-2025
- Business
- Business Times
Walmart to pay US$10 million to settle US FTC lawsuit over money transfer fraud
[NEW YORK] Walmart has agreed to pay US$10 million to settle a US Federal Trade Commission (FTC) civil lawsuit accusing the world's largest retailer of ignoring warning signs that fraudsters used its money transfer services to fleece consumers out of hundreds of millions of US dollars. The settlement was filed on Friday (Jun 20) in Chicago federal court, and requires approval by US District judge Manish Shah. Walmart also agreed not to process money transfers it suspects are fraudulent, or help sellers and telemarketers it believes are using its services to commit fraud. 'Electronic money transfers are one of the most common ways that scammers tell consumers to send them money, because once it's sent, it's gone for good,' said Christopher Mufarrige, director of the FTC's consumer protection bureau. 'Companies that provide these services must train their employees to comply with the law and work to protect consumers.' The Bentonville, Arkansas-based retailer did not admit or deny wrongdoing in agreeing to settle. Walmart said that it was pleased to settle and shared the FTC's goal of protecting consumers from fraudsters, including from fraud-induced money transfers. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up In its June 2022 complaint, the FTC accused Walmart of turning a blind eye to fraudsters who used its money transfer services to cash out at its stores. Walmart acts as an agent for money transfers by companies such as MoneyGram, Ria and Western Union. Money can be hard to trace once delivered. The FTC said fraudsters used many schemes that included impersonating Internal Revenue Service agents, impersonating family members who needed money from grandparents to avoid jail, and telling victims they won lotteries or sweepstakes but owed fees to collect their winnings. Shah dismissed part of the FTC case last July but let the regulator pursue the remainder. Walmart appealed from that decision. Friday's settlement would end the appeal. REUTERS
