World leaders condole demise of Prime Minister modi’s mother

Tokyo/Jerusalem: Several world leaders on Friday condoled the demise of Prime Minister Narendra Modi’s mother Hiraben who passed away in Gujarat at the age of 99.
Hiraben passed away at a hospital in Ahmedabad in the early hours of Friday. Her mortal remains were consigned to flames by PM Modi and his brothers at a crematorium in Gandhinagar.
Taking to Twitter, Japanese Prime Minister Fumio Kishida wrote, “PM Modi @narendramodi, I would like to express my deepest condolences for the passing of your beloved mother. May her soul rest in peace.”
Israel’s newly-elected Prime Minister Benjamin Netanyahu also tweeted his condolence message to his friend, Prime Minister Modi.
“My dear friend @narendramodi, Prime Minister of India, please accept my deepest condolences on the passing of your beloved mother. May she rest in peace and may you find solace in her memory and the rich heritage she bequeathed to you and many others,” Netanyahu wrote.
Nepal Prime Minister Pushpa Kamal Dahal “Prachanda” said he is deeply saddened to learn about the passing away of Modi’s loving mother.
“At this hour of grief, I express heartfelt condolences to PM Modi ji and the family members and pray for eternal peace of the departed soul,” he tweeted.
Sri Lankan President Ranil Wickremesinghe also offered his condolences to prime minister Modi.
“Deeply saddened by the passing of the beloved mother of Prime Minister Narendra Modi. My heartfelt condolences to Prime Minister Modi and the family in this hour of grief,” he said in a statement.
Bhutan’s Prime Minister Dr Lotay Tshering tweeted, “My prayers and condolences to Prime Minister @narendramodi on the demise of his beloved mother early today. The grief of losing one’s parent is inconsolable. I wish you strength.”
“The rare glimpse of Your Excellency and mother we see often, displaying purest love, and her strength and values in you, was an inspiration for all of us.
“But like the love and blessings of all mothers, I believe that her prayers will always remain with Your Excellency. May her soul find eternal peace,” the Bhutanese Prime Minister wrote in a message.
Offering his condolences to his Indian counterpart, Pakistan Prime Minister Shehbaz Sharif in a tweet said, “There is no greater loss than losing one’s mother. My condolences to Prime Minister @narendramodi on the passing away of his mother.”
Sri Lanka’s former president Mahinda Rajapaksa also expressed his “heartfelt condolences” to Modi on the loss of his beloved mother.
In a tweet, Nepal’s former prime minister Sher Bahadur Deuba also expressed his heartfelt condolences to Modi and his family “at the passing away of his venerable Mother. May her eternal soul attain Moksha”.
Amidst Rising GST Collections, Analytics Will Emerge as Critical Tool for MSME Lending in 2023, says Jocata
Mumbai, Maharashtra, India
To power MSME credit decisioning, Jocata launched a composite score that uses deep behavioural and predictive analytics
Offers potential for banks to launch contextual solutions like embedded lending, GST bridge loans, sachet loans, BNPL, cash-flow based loans
Enables quick credit to MSMEs by cutting down assessment time to under 2 minutes and loan disbursal time to under 6 hours
The Government of India collected Rs. 1.52 trillion as goods and services tax (GST) in October, reporting a 16.6 per cent year-on-year increase, driven by festive spending, better compliance, and higher tax rates. This collection is expected to increase further and exceed FY23 budget estimates by Rs. 1.3-1.4 trillion. Amidst this, Jocata launched its proprietary AI/ML based risk and business intelligence score, SME DNA, which will fast-track priority sector lending for banks and empower MSMEs to review and improve their business performance and get access to timely credit.
“The GST framework is a treasure trove of business transactions data and is now beginning to drive financial institutions’ lending decisions, especially to MSMEs,” said Prashant Muddu, CEO & MD, Jocata, a B2B digital lending and compliance fintech.
SME DNA comes at a time when there is a growing demand for GST-based analytics. A strong regulatory push, growing GST filing compliance and the recent announcement of GSTN as a Financial Information Provider (FIP) under the Account Aggregator framework is expected to ease access to large volumes of consent-based GST data and grow the analytics outcomes.
With the government emphasizing on extending credit term to small enterprises, the SME DNA score will aid underwriters with enhanced ‘Go-No-Go’ decision within 2 minutes, thereby accelerating lending journey for MSMEs. With predictive insights, the SME DNA score will also spur credit innovation for banks in the form of contextual and targeted lending solutions and products aimed at the MSME segment, including embedded lending, GST bridge loans, sachet loans, BNPL, and cash-flow based loans, among others.
During its initial stage, the SME DNA score aided one of the top five private banks in India to build a business model in the small ticket segment of unsecured business loans in the range of Rs. 2 lakh to 20 lakh, and also secured overdraft of up to Rs. 2 crores digitally from the ground up, Muddu said.
“The outlook for GST-based analytics is very promising and it can significantly reduce the current problems that bankers face in credit decisioning for the priority sector that stem from a heavy reliance on expert judgement leading to longer decisioning times,” he added.
GSTN filings are considered a goldmine of authentic, reliable, digitally available, dynamic data. By leveraging cutting edge data science techniques on GSTN filings, SME DNA can empower underwriters with more transparent insights throughout the business cycle of credit seekers and reduce the Time-to-Credit (disbursal) for MSME borrowers from 2-5 days to less than 6 hours.
Jocata’s Data Sciences team has analyzed MSMEs’ filing data from GSTN since its advent to develop the score that represents the risk of the MSME business. The score assesses the entity for its propensity to pay tax, checks the health of and (over) dependence on the MSMEs’ buyers and suppliers, among other risk factors. It also helps banks’ underwriters and business teams in improving credit decisioning and monitoring, besides identifying early warning signals at entity and portfolio level, which is especially important at a time when banks and financial institutions are facing pressures to reduce Non-Performing Assets (NPAs). This is key to easing the trust deficit financial institutions face in lending to MSMEs and giving transparency and information throughout the business cycle.
Jocata has been working with some of the largest financial institutions to power their digital transformation journeys across a suite of fintech solutions including digital onboarding, risk scoring and assessment, credit underwriting, fraud prevention, API infrastructure and management, early warning systems among others. Some of the key banking partners include ICICI Bank, Axis Bank, Bank of Baroda, IndusInd Bank, Kotak Mahindra Bank, RBL Bank, Federal Bank, Standard Chartered, DBS Bank, Tata Capital, Airtel Payments Bank and American Express.