Mahindra Finance Forays into Sri Lanka

To capitalize on the emerging opportunities in the financial services industry in Sri Lanka, Mahindra Finance has signed a joint venture agreement with Ideal Finance, an important financial services company in Sri Lanka. As a part, of its global expansion strategy Mahindra Finance will invest LKR 2 billion by March 2021 in Sri Lanka and will aim to replicate its successful, socially inclusive business model in Sri Lanka.

Mahindra Finance operates in rural and semi-urban India fueling the entrepreneurial aspirations of over 6.2 million customers in over 370,000 villages in India. By replicating the same business model in Sri Lanka, the company will leverage its 25-year-long expertise in the financial services domain and combine Ideal Finance’s domestic market knowledge to build a leading financial services business in the island nation.

Ramesh Iyer, Vice-Chairman & Managing Director, Mahindra Finance, said, “Mahindra Finance, with its strong financial services expertise and innovative products has added value to the lives of millions of customers both in India and in a developed market like the US. We believe that the Sri Lankan market holds great potential for growth. Ideal Finance with its knowledge, highly experienced team, and widespread network is the right partner to help us create a leading financial services company in Sri Lanka. We see a strong, long-term growth opportunity in this market, and are committed to bring in the required capital and expertize to fuel this growth.”

Mahindra Gets Volkswagen Rolling

India along with its automotive and auto component manufacturing industries is steadily spiraling upwards. With the automotive industry expected to triple its size by 2026, the manufacturing industry is firmly keeping its foot on the accelerator and pushing India well ahead of other fast-growing economies. However, with shifting market dynamics, customer demands, and changing operating models the auto manufacturing sector is also constantly realigning their priorities to strengthen their supply chain offering and increase efficiency.

As a market leader in the Indian logistics sector, Mahindra Logistics has been at the center of enabling enterprises to adjust to the changing dynamics of the market. Banking on their extensive expertise, Volkswagen Group India will be partnering with Mahindra Logistic Ltd (MLL) to manage more than 20,0000 sq. ft. of warehousing space and Parts Distribution Centre (PDC) operations at it’s NCR and Bengaluru facilities.

These state-of-the-art warehouses equipped with customized storage, advanced Material Handling Equipment (MHE) and specialized packaging solutions will send spare parts to the Volkswagen Group, India dealer partners in North, East and Southern regions of the country.

With warehousing and transportation operations spanning 15 million square feet and 75,000 vehicle placements per month, MLL continues to operate with multiple industries including e-commerce, consumer, pharma, people transport solution, in addition to auto and engineering.

Pirojshaw Sarkari, CEO - Mahindra Logistics, said, “We are very happy to be part of the Volkswagen Group’s growth story over the last six years. This project is a testimony to our capabilities in automotive logistics and the continuous faith the industry has showered to 3PL players like us. We are certain that the Volkswagen Group, India, will achieve the desired cost-efficiency and more importantly, ensure that their products reach the end-user, on time.”

Goodbye, Workplace Blues

When you struggle to tally your remaining leave balance at work, wouldn’t it be nice if someone promptly calculated the numbers for you? K2, the humanoid that joined the HR team at the Tech Mahindra Noida SEZ campus a month back does all this and much more!

At a time when employees unanimously agree on the importance of empathy - yet 92% feel empathy remains undervalued, K2, developed by Tech Mahindra’s internal lab comes armed with empathy to add value to the HR function and enhance employee experience. By leveraging state-of-the-art Artificial Intelligence (AI) technology, K2 has taken the HR function a notch higher. K2 can address general and specific HR-related employee queries,as well as handle personal requests for providing pay slip, tax forms, etc. This, in turn is helping HR professionals focus their efforts on more strategic matters, instead of simply managing transactions, implementing policies, and developing programs.

Harshvendra Soin, Chief People Officer, Tech Mahindra, said, “K2 has been designed to add value to the employee lifecycle across various touchpoints and ready ourselves to be a workplace of the future.”

Working towards building an enhanced employee experience that is seamless, simple and intuitive, Tech Mahindra has constantly invested in next-gen technologies. Tech Mahindra also launched ‘Talex’ last year – an AI-driven marketplace of talent that matches candidate profiles with suitable job openings in the organization. It takes into account the previous assignments of the candidates, their educational background, skills, manager ratings, self-rating, awards, and contribution towards larger organizational goals.

‘Not just about diversity, it is about being inclusive’

Apoorva Mangaonkar joined the Mahindra Group in June 2017 as part of the Amplifiers Management Trainee Program. Soon after, she was promoted to her current position of an Area Sales Manager (ASM) after she performed well as a Launch Manager for Mahindra Marazzo, Alturas G4 and XUV300 in Ahmedabad.

Today, she spearheads numerous operations that include driving targeted sales, handling customer satisfaction, working with multiple dealer networks for capital management, sales planning and manpower capability. She is also the digital champion for the area office for the past two years, increasing the digital conversion for the Mahindra Automotive Division in Gujarat.

She believes being an ASM is like being a business consultant, wherein the challenge lies in keeping the entrepreneurial spirits high. Be it handling dealerships, or managing customer relationships, her professional experience has been filled with many successes and ‘firsts’. Apoorva takes pride in managing high-stake situations and questions ‘why not?’ to translate these ‘firsts’ into successes.

However, Apoorva recollects that while she always had the instruments to drive change, Mahindra has helped her bridge the gap between theory and practice by giving her the freedom to think outside-the-box, challenge conventional thinking and push her limits. Instead of taking a set approach to dealing with traditional dealerships, she chose to be flexible and break the existing biases against women on the field by re-writing the rules.

Showing the partner networks that her decisions can directly impact their profitability, Apoorva worked on building credibility and fostering a strong relationship with them. Before signing off, Apoorva reiterates that real empowerment is ‘not just about diversity, but it is about being inclusive,’ reinforcing Mahindra’s principle of celebrating uniqueness in every individual.

  Tweet of the Week

CP Gurnani, MD and CEO, Tech Mahindra

While we are super proud of @Pvsindhu1 let's not forget to congratulate @joshimanasi11 on her GOLD in #BWFWorldChampionships2019 #ParaBadminton! Two daughters of India put us on top of the world of Badminton ...Salute you both!!

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