Corporate Updates: Paytm Launches Silver Savings, Utkarsh SFB Partners Kotak Life, IHG Signs Holiday Inn in Madurai
One97 Communications Launches Paytm Silver for Digital Savings
One97 Communications, the parent company operating the Paytm brand, on Tuesday announced the launch of Paytm Silver, enabling users to begin saving in silver through its app starting at Rs 20.The new offering is designed to promote disciplined savings in small amounts, allowing users to gradually accumulate silver over time. According to the company, the feature offers flexibility for use during festivals, personal milestones, and future financial requirements.
The company said it has witnessed strong adoption of its Paytm Gold product. Building on that momentum, the introduction of silver adds another asset class for long term accumulation within the Paytm ecosystem.
The silver is sourced from MMTC PAMP, ensuring high purity standards. The equivalent physical silver backing customer holdings will be securely stored in insured vaults of MMTC PAMP in association with MMTC Ltd.
Users can also sell their accumulated silver instantly at prevailing market prices directly through the Paytm app.
Utkarsh Small Finance Bank Ties Up with Kotak Mahindra Life Insurance
Utkarsh Small Finance Bank on Tuesday announced a strategic partnership with Kotak Mahindra Life Insurance for the distribution of insurance products.The collaboration strengthens Utkarsh SFB’s life insurance vertical by integrating Kotak Life’s product suite across the bank’s 1,105 outlets spanning 27 states and union territories.
According to a joint statement, the tie up is expected to benefit the bank’s 51.4 lakh customers by offering a broad range of tailor made life insurance solutions. These include protection, savings, unit linked and retirement products provided by Kotak Life.
IHG Hotels Signs Agreement for 150 Key Holiday Inn in Madurai
IHG Hotels & Resorts has signed a management agreement with Chentoor Hotels to develop a 150 key Holiday Inn Express & Suites in Madurai, Tamil Nadu.The property, branded as Holiday Inn Express & Suites Madurai, is scheduled to open in early 2029.
Sudeep Jain, Managing Director, South West Asia at IHG Hotels & Resorts, said the signing aligns with the company’s strategy to expand in high growth micro markets across India and marks a partnership with Chentoor Hotels for the upcoming project.
IHG currently operates 51 hotels across six brands in India and has a pipeline of 89 hotels that are expected to open over the next three to five years.
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