Spocto Introduces India`s First Debt Collection Innovation Lab
The first Innovation Lab (SIL) in India, focused on the debt collection sector of the banking sectors in India and the Middle East, was opened with the help of the world`s top full-stack debt assistance and risk mitigation platform.
Sumeet Srivastava, Founder and CEO, spocto, said, We firmly believe that a credit-led economy is a crucial pillar to achieve the $5 trillion goal of the overall economy set by the Hon Prime Minister of India. With SIL, we aim to tackle the mammoth hurdle of debt resolution and make it seamless by simplifying the entire journey of debt. We have engineers, data scientists and banking experts from diverse geographies coming together to tackle this global issue.
Spocto`s Goal:
Spocto will also promote digitalization in the collections ecosystem by leveraging technology that provide hyperpersonalization and data-driven solutions to improve repayments. The ideas will be finalised in cooperation with a ‘borrower’ focus group comprised of persons from various demographics. Because SIL will collect input from both the borrower and lender sectors, spocto hopes to cut the default rate by 10 per cent by 2025.
Spocto has made immense strides in the collections segment with its work with leading banks. since 2017. In these years, spocto has touched over 54 million end customers while processing volumes worth USD 100 billion and has worked with 30+ financial institutions across the globe.
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UP CM Yogi Adityanath launches `One District One Sport` scheme
The ambitious One District One Product (ODOP) programme of the Uttar Pradesh government has won accolades from other countries for assisting in the resurgence of traditional crafts in the state. To promote local sporting potential, the government has now introduced the One District One Sport (ODOS) programme. The Yogi Adityanath administration expects that the ODOS programme would serve as a breeding ground for athletes who will be able to represent the state at both the national and international levels. In each of the 75 districts of Uttar Pradesh, one sport would be identified, according to officials. There will be efforts made to identify and develop district-specific athletes.
Under ODOS, one sport will be identified in each of the 75 districts of UP and necessary steps taken to find district-wise sport-specific talents and hone their skills in order to enable them to represent the district, state, national and international level tournaments and championships.
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India`s Coal Production Increased By 11.66 % in November
The total amount of coal produced in India increased by 11.66% from 67.94 million tonnes in November 2021 to 75.87 million tonnes in November 2022.
According to data from the coal ministry, Coal India Ltd. (CIL) experienced increase in November 2022 of 12.82%, while Singareni Collieries Company Limited (SCCL) and other captive mines experienced growth of 7.84% and 6.87%, respectively.
About The Production:
Out of the top 37 mines in coal production as many as 24 mines produced more than 100 per cent and production of five mines stood between 80 and 100 per cent in terms of output. The power utilities dispatch also increased by 3.55 per cent to 62.34 million tonnes during November as compared to 60.20 million tonnes in the corresponding period of last year.
About The Power Generation:
Coal-based power generation also registered a growth of 16.28 per cent in November as compared to last year, while overall power generation in November was 14.63 per cent higher than the power generated in November 2021.
About The Target:
Union Minister of State for Coal Raosaheb Danve Patil said that India is planning to increase its annual coal production to 1.5 billion tonnes by 2030 to meet its increasing fuel demand.
“Our total dispatch in 2013-14 was 572 million tons, last year it was 817 million tonnes, this year it will be 900 million tonnes. Despite this, domestic production will not be able to fulfil full coal demand,” the minister said.
As the country is aiming to become self-reliant in the coal sector, deliberations are in progress on how the country can perform sustainable coal mining, said the Coal Minister.