Sreelakshmi24’s Blog

CyberSource Ltd., the UK-based subsidiary of CyberSource Corporation, today announced that its Decision Manager anti-fraud solution has been selected by Air India Express. Decision Manager, designed to help companies like Air India Express automate and safeguard its online ticketing, provides access to over 150 global validation tests to screen for fraud and determine in real time whether online transactions should be accepted, rejected, or marked for further review.

Dr. Akif Khan,
head of client and technical services at CyberSource Ltd., said, “Air India Express is carving out new market opportunities in the Asian airline business, and we are pleased to assist them in risk management. The work we are doing with Air India Express furthers our experience in the Indian marketplace and in the global travel sector, both of which have been focus areas for CyberSource.”

Air India Express is India’s first international airline to offer budget travel. The carrier flies to 14 key international destinations including Dubai, Abu Dhabi, Singapore and Bahrain, and also operates a domestic service between major Indian cities.

“Our rapid growth dictates a robust solution that can not only identify potentially fraudulent activity but also minimises the burden on manual review staff,” said Harish Pai,
finance head, Air India Express. “CyberSource’s considerable experience in the Indian online environment and in the travel sector was also a factor in our selection process.”

How Decision Manager works

Decision Manager features an easy-to-use interface which allows fraud management staff to create rules and manage acceptance criteria for online orders.  Based on rules Air India Express defines, Decision Manager automatically determines the appropriate disposition of incoming orders—accept, reject, or review. Orders suspended for review are held in a case management queue for fast examination and disposition using Decision Manager’s sophisticated case management system. Rules can be tested without risk to determine their effectiveness and quickly modified to adapt to changing order patterns. A complete array of process analytics further helps address the accuracy and efficiency of the fraud management process.

For more information on CyberSource’s Decision Manager, see: http://cybersource.co.uk/products_services/risk_management/.

Fortis Healthcare Ltd., one of India’s leading chain of private hospitals with a network of 26 hospitals (including 11 satellite and heart command centres)* with a capacity of ~ 3000 beds, today announced its unaudited consolidated results for the 3^rd quarter and 9 months ended 31^st December 2008.

Quarter ended 31^st December 2008 (Q3 FY09)

• For the third quarter, the Company reported 33% growth in operating revenue as compared to corresponding quarter in the last fiscal. Aggressive strategies adopted to increase number of facilities and specialties across Fortis network have lead to the buoyant growth.
  
• EBIDTA margins for the quarter stood at 18%, up from 15% in the corresponding quarter. On absolute basis the EBIDTA grew by 47%.
  
• The net profit stood at Rs 5.1 Crore as compared to a loss of Rs 6.8 Crore in the corresponding quarter last year. On a trailing quarter basis, the net profit before exceptional items grew by 38%.
  
• Escorts Delhi completed 20 years in providing tertiary care in the field of Cardiac Sciences. Earlier during the financial year, Escorts was awarded “Super Brand” status by Super Brand India, as acknowledgement of its strong brand equity.
  

Commenting on the results, Mr. Shivinder Mohan Singh, Managing Director, Fortis Healthcare Ltd., said, “A continuous strong focus on delivering consistent quality care and operating efficiencies across the network is leading to a higher level of patient trust and FORTIS brand recognition. This brand recognition has also led us to expand our network aggressively”.

9 Months ended 31^st December 2008 (9MFY09)

• Operating revenues of the company grew by 22% over the corresponding period to Rs 458 Crore. All the hospitals recorded increase in revenues ranging from 13% to 53%, with notable performance by Amritsar, Mohali, Noida and Escorts Delhi.
  
• For the same period, the operating revenues for the entire network hospitals stood at Rs 542 Crore, registering a growth of 24%.
  
• EBIDTA grew by 77% from Rs 47 Crore to Rs 83 Crore. EBIDTA margins for the period stood at 17%, up from 12% for the corresponding period.
  
• Growth in revenues together with expanded gross margins and optimization of operating costs has resulted into a net profit of Rs 16 Crore as compared to a loss of Rs 45.6 Crore in the corresponding period last year.
  

The company, in line with its vision to become a globally respected Healthcare Organization, continues to add new hospitals to its network in an aggressive manner. Fortis Clinique Darne a 120 bedded hospital in Mauritius, the first international foray of the Company is expected to provide firsthand experience of managing healthcare delivery in developed market and will go a long way in attracting Medical Value Travel to India.

Consequent to acquisition of majority stake, Fortis Hospital Seshadripuram has started to re-position its medical program in order to add new specialties and elevate the level of medical care. This is Fortis’s second venture in South. With the strategy to expand its network rapidly and to strengthen presence in west, Fortis recently took over the operation and management of a 200 bedded hospital (now known as Fortis Modi Hospital) in Kota.

The overall performance for the period has been encouraging and tracking as per plan with most of the hospitals constantly setting new milestones in terms of operating and financial parameters. The continuous endeavour to deliver high quality medical care coupled with patient centric approach shall remain the core foundation for strengthening the FORTIS Brand

BharatMatrimony.com, India’s most trusted matrimony portal with over 15 million registered members yesterday announced its partnership with IDEA Cellular, one of the leading mobile operator with over 40 million subscribers, to launch customized matrimony services for mobile users. IDEA subscribers can access Bharatmatrimony’s services on their GPRS enabled handsets, across the country.

Speaking about the initiative, Mr. Pradeep Shrivastava, Chief Marketing Officer, IDEA Cellular said “IDEA has always been at the forefront of offering the most innovative and exciting ‘Internet on Mobile’ experience for our subscribers. With the launch of BharatMatrimony.com on the IdeaFresh portal, we are extending our mobile internet footprint into the matrimonial segment, engaging our users with a Mobile-As-Matchmaker experience. By added focus on the regional matrimonial aspect to IDEA’s version of BharatMatrimony, we are confident of making this service relevant and user-centric for a larger section of our users, across the country”

According to Murugavel Janakiraman, Founder & CEO, Consim Info Pvt Ltd- (Consumer services through internet & mobile)-the parent company which hosts a set of portals from matrimony to property. “At CONSIM, we are constantly looking to go beyond the Internet and reach out to a wider range of consumers through all possible digital channels. IDEA Cellular’s innovative approach to delivering WAP services provides us a sound platform to serve the rapidly growing mobile users in India”. He further added, “Another interesting feature is that we have integrated this with our web offering, thus allowing both sets of customers to seamlessly interact across mediums.”

Bharatmatrimony.com has customized its services for IDEA Cellular keeping in mind the unique needs of subscribers. A range of services and sections on the website, such as searching for prospective brides and grooms; viewing individual profile, ‘Express interest’ etc will be available free of cost to IDEA subscribers.

For further browsing and accessing information; writing personalized messages; and sharing contact information with others on the website – IDEA subscribers can avail exciting subscription plans. For just Rs. 100 per month, subscribers will get to view unlimited profiles and access 5 contacts free of cost. The service can be accessed on IDEA’s WAP portal
http://wap.ideafresh.com
or at
http://idea.bharatmatrimony.com
on the mobile internet browser by selecting Idea GPRS option.

Fortis Healthcare Limited, one of India’s leading private chains of hospitals, announced the appointment of Mr. Bhavdeep Singh as the company’s Chief Executive Officer. Bhavdeep Singh brings with him a vast and rich background covering three decades of professional experience. While for the major part of his career he was in the United States, Bhavdeep has now been in India for three years and most recently serving as Chief Executive of Reliance Fresh.

Bhavdeep Singh, a US citizen, returned to India after spending 30 plus years in US. In the US, for more than 28 years, Bhavdeep was associated with A&P, a leading supermarket chain in the United States. His key areas of responsibility included Operations, Merchandising, Marketing, Finance, Supply Chain/Logistics, HR, Labor Relations, Asset Protection, Productivity and other support functions. In his last role, he was responsible for a $3.5 billion business with almost 20 thousand employees.

On his return to India in 2006, Bhavdeep Singh joined Spencer’s Retail as the Chief Executive –Operations and Food Merchandising before moving to Reliance Fresh as Chief Executive. During the last two plus years at Reliance, Bhavdeep spearheaded the aggressive launch and expansion drive of Reliance Fresh and introduced almost 600 new stores in 18 months, to turn it into the fastest growing retail chain in India.

Announcing the new development in the management team, Shivinder Mohan Singh, Managing Director, Fortis Healthcare said, “Fortis is in a phase of stupendous growth. When organizations grow at this pace, it becomes important to signify and solidify its leadership, align systems and processes with a renewed focus on outcomes. Bhavdeep’s extensive experience in the retail sector with focus on efficient processes, ability to manage and contain cost of operations, exceptional people management experience coupled with his strong operations & business acumen will bring tremendous value to Fortis and help further enhance its leadership stature in the industry.”

Commenting on his appointment as Chief Executive Officer of Fortis Healthcare, Bhavdeep Singh said, “I am very excited to be a part of Fortis at such a crucial and significant time in its growth and see great potential of leveraging my experience both in USA and in India. I look forward to lead the organization which is leading the Indian Healthcare Sector to its next stage of development.”

For further details visit http://www.fortishealthcare.com

Consim Info Pvt Ltd, formerly known as BharatMatrimony Group, India’s leading internet company has been awarded the “Fastest growing 50 technology companies in India” by influential US based audit firm Deloitte. Consim Info Pvt Ltd is the only consumer Internet Company to be awarded in India.

Deloitte is among the top four general management consulting and services firm in the world. The company is recognized globally for their ethical practices and standards wherein they have more than 100 companies in the Fortune 500 list as their clients.

 Consim has been recognized for this prestigious award among all leading technology companies in India to participate in this survey.

• Ranked as “Fastest growing 50 technology companies in India”
  
• Selected for the “Fastest growing 500 technology companies in Asia”
  
• Consim’s revenue growth is over 300 percent in three years.
  

Murugavel Janakiraman, Founder & CEO Consim Info Pvt Ltd said, “We are extremely delighted to have bagged this award in the very first year of our participation. The Innovation, technology and user friendly features of our portals have helped millions of consumers across the globe in making life’s critical decisions.”

For more details about Consim Info Pvt. Ltd. visit http://consim.com/

According to the results of a survey released in January 2009, conducted by the Healis-Sekhsaria Institute for Public Health
through Synovate’s Global Omnibus
on attitudes and behaviour among consumers in four major Indian cities, a near-unanimous majority of Indians strongly believe that the government should implement all new regulations that prohibit smoking inside all public places and workplaces in India.

An overwhelming 99% of the respondents of the survey have voiced their opinions strongly in favour of enforcement of rules prohibiting smoking in all public places and workplaces. 98% of the respondents have come out in favour of regulations prohibiting smoking in workplaces.

Speaking on the results of the survey, Dr. P.C. Gupta,
Director, Healis – Sekhsaria Institute for Public Health, said, “The results of this survey have now shown that Indians clearly support the implementation of the law to ensure a right of citizens to breathe clean. Every aspect of controlling the brazen incursion of tobacco in public life must be exercised fully. By next year smoking will cause about 930,000 adult deaths each year in India, up from about 700,000 deaths per year in 2004. It is therefore vitally essential for the government and public bodies to take substantial steps to make sure that the compliance and implementation of the law on tobacco control is in fact realized, so that every common man can be protected from the dangers posed by tobacco.”

“India has always been faced with the rampant use of tobacco across all sections of society. However, the results of this survey show that most Indians are still resistant to tobacco usage, and the general consensus achieved by the survey is a very positive indicator of the sentiments of the public. It is very heartening to know that Indians recognize the fact that secondhand smoke is a major health hazard, and feel that the ban on smoking in public places should be more strictly enforced”, said Dr. S.S. Shastri, Professor and Head, Department of Preventive Oncology, Tata Memorial Hospital, Mumbai.

The respondents have also shown a high regard for the adverse effects of secondhand smoke, with 92% clearly stating that exposure to secondhand smoke constitutes a serious health hazard for non-smokers. With regard to office environment, 94% percent of Indians surveyed strongly agreed that all workers in India should be protected from exposure to secondhand smoke in the workplace. These concerns translate to the very strong belief among Indians that the right of customers and employees to breathe smoke-free air in workplaces and public places (including restaurants and bars) is more important than the right of smokers to smoke inside these places.

The majority of respondents from all locations have said that restaurants and bars are healthier and more enjoyable now that they are smoke-free. 85% of the respondents have agreed to this fact, out of whom 72% have agreed very strongly that these places are healthier. 88% of the respondents have strongly agreed that it is nice to go out and enjoy local restaurants and bars without smelling like smoke when they get home.

The results of the survey have highlighted the fact that Indians have decisively spoken out against smoking in public, and the recognition of the fact that secondhand smoke is a health hazard. This clearly shows that there is ample scope for the ban on smoking in public places has ample scope to succeed in the country, and it is the responsibility of civic bodies to ensure that the rules necessary for the campaign to succeed are uniformly enforced.

For more details, visit www.healis.org

VLCC group yesterday launched its first VLCC Day Spa in Mumbai, in Juhu, while simultaneously opening six new VLCC centres in the megapolis, taking up its presence in Mumbai to a total of 28 locations. The spa was inaugurated by Ms.Vandana Luthra, Founder & Mentor, VLCC and present on the occasion were several dignitaries from the lifestyle and entertainment fraternity.

The VLCC Day Spa is a luxury presentation from the house of VLCC, offering spa therapies from around the world as well as hair, skin and nail services. The VLCC Day Spas are staffed by highly skilled and trained professionals from India and overseas and house the latest international equipment. Providing high-end services drawn from Ayurveda to a host of body therapies popular across the globe, from anti ageing facials to dermatological solutions, from hair solutions to nail art, pedicures and manicures, VLCC Day Spa offers an array of therapies that address health and beauty needs of an individual.

The all-new wellness centers in Mumbai are located in Khar, Andheri (East), Andheri (West), Kalyan, Chembur and Mira Road. The new centers will offer an array of weight-management and beauty services ranging from slimming, skin treatments and hair care solutions, each coupled with unique, personalized attention that is a benchmark of VLCC. This new age concept from the house of India’s only Slimming, Beauty and Wellness group, offers one of the finest rejuvenation treatments in skin and hair.

Speaking on the occasion Mrs. Vandana Luthra said, “Apart from spas being an acknowledged solution for relief from the stresses and tensions of everyday living, spa and body therapies are increasingly being used as effective tools in preventive and curative healthcare. At VLCC, we have mastered the art of wellness for the body, mind and soul. This first VLCC Day Spa in Mumbai is an embodiment of that expertise. The opening of this Day Spa, along with the simultaneous opening of 6 new VLCC Centres in Mumbai represents a significant milestone in our journey to deliver the very best in health, beauty and wellness solutions all, including the discerning residents of Mumbai.”

For more information visit www.vlcc.co.in

IFC, a member of the World Bank Group, is helping expand the availability of affordable, clean drinking water to about three million people in India by supporting WaterHealth India Private Limited, which provides water services to Indian villages.

IFC’s $15 million loan to WaterHealth India, a subsidiary of WaterHealth International, will help install more than 600 systems in villages in the Indian states of Uttar Pradesh, Madhya Pradesh, Chhattisgarh, Andhra Pradesh, Gujarat and Maharashtra. The implementation of WaterHealth’s systems will help minimize toxic by-products from alternative water-purification methods like chlorination.

More than 25 percent of India’s population does not have access to clean drinking water. Unsafe water is often the cause for waterborne diseases such as cholera and diarrhea. As more villages are included, the WaterHealth project will have important health benefits as well as help generate local employment and provide training, which could significantly improve earnings for people in rural areas.

“This project, IFC’s first in India’s distributed water services sector, will provide access to clean drinking water for rural households,” said Paolo M. Martelli,
IFC Director for South Asia. “Increasing access to affordable, safe water will have positive impacts on health and education.”

“To be able to provide clean water at affordable prices for households that earn less than $2 a day, we turned to IFC for long-term financing,” said Vikas Shah, Chief Operating Officer for WaterHealth India.

WaterHealth India has already installed systems in nearly 200 villages in Andhra Pradesh. Through its water centres, the company employs service operators, maintenance engineers, and other staff who engage with people from the village for services and trains them on operating machines and collecting revenue.

To learn more about IFC’s activities in India, visit www.ifc.org/southasia

The Muthoot Group, A Muthoot M George Enterprise, today announced the opening of their 1000th branch at Vazhakkala, Kochi, Kerala. The 122 year old Rs. 20,000 crores business conglomerate today has diverse interests in 16 business verticals ranging from Financial Services, Infrastructure & Housing, Information Technology, Power Generation, Hospitality to Healthcare & Education. The group has a presence in 20 states across the country and international presence in the UK and UAE.

Speaking on the occasion Mr. M. G. George Muthoot, Chairman, The Muthoot Group, A Muthoot M George Enterprise, said “It is a matter of extreme pride for us to have grown from 450 to 1000 branches in a span of less than three years. With every new branch, and with the addition of every new Muthoot customer, we re-iterate our commitment to ensuring trustworthy flawless services coupled with our unblemished track record of 122 years. We aim to operationalize 1500 branches by the end of FY 2010.” “Our steadfast resilience and complete dedication towards our customers spread across India and even overseas has provided us the zeal to innovate constantly and to offer customer-centric products & services,” he added.

Mr. M. G. George Muthoot, Chairman, The Muthoot Group, A Muthoot M George Enterprise addressing the media at the opening of the group’s 1000th Branch

The group established in the year 1887 by Mr. Ninan Mathai Muthoot, whose ‘2 elephants in unison’ logo denotes strength & stability, The Muthoot Group, A Muthoot M George Enterprise firmly believes in its values of honesty, integrity and determination.

The financial services division of the Group, Muthoot Finance was established in 1939 under the leadership of Mr. M. George Muthoot. It offers multiple services including retail gold finance, deposits, money transfer, insurance, precious metals and foreign exchange to name a few. Muthoot Finance has served over 250 million customers and has a customer footfall of around 30,000 every day seeking retail gold finance. The vast branch network of Muthoot Finance enables the Group to cross and up-sell various products and services of the other verticals of the Group.

Muthoot Finance is the pioneer in ‘Retail Gold Finance’ and is the largest player in this segment worldwide. In continuation of its tradition in revolutionizing the retail gold finance, it has conceptualized ‘5-Minute Gold Power Loans’. This is the fastest and the most hassle-free way to avail loans at the most attractive rates against Gold.

The Muthoot Group, A Muthoot M George Enterprise is actively looking at opportunities for inorganic growth in healthcare, travel related services and entertainment. The Hospitality division of the group has plans of launching a 7-Star Deluxe Hotel in Kochi amongst its other plans for the current fiscal. The Group has also launched its global arm “Muthoot Global“, which mainly deals in Wealth Management, Cash Transfer & Gifting and has a presence in the UK and UAE and plans to expand the network and diversify its foreign operations in the immediate future to more shores outside the country.

For more information, please visit www.muthootgroup.com

Fortis Healthcare Ltd., one of India’s leading chains of private hospitals, announced taking over the Operational & Management control of ~ 200 bedded Apollo Modi Hospital in Kota for providing superior healthcare services in the region. The hospital has been renamed as “Fortis Modi Hospital“. This is the third hospital added to the Fortis network in the last one month. Earlier, in end January, Fortis announced the acquisitions of Fortis Clinique Darne in Mauritius and Apollo RM Hospital in Bangalore.

The announcement is in line with Fortis’s deep penetration strategy. The company already has a ~ 320 bed capacity hospital operating in Jaipur and an upcoming 150 bed hospital in Vashi, Navi Mumbai. This second venture in Rajasthan – situated in Kota in Southern Rajasthan – strengthens Fortis’s presence in western markets. It will also enable Fortis to expand its coverage to major cities in Gujarat, Madhya Pradesh and Rajasthan, apart from serving people in and around Kota. The addition of Fortis Modi Hospital takes the Fortis network to a total of 26 hospitals with capacity to increase inpatient beds to ~ 3000 beds.

Fortis Modi Hospital, spread over 1.5 acres, was commissioned in November 2007. With a built up area of ~ 1.5 Lacs sq. ft., the hospital is equipped with state of art technology and offers services in

• Cardiology,
  
• Cardiovascular Surgery,
  
• Endocrinology,
  
• Nephrology,
  
• Neurology & Neuro Surgery,
  
• Orthopedics & Trauma,
  
• Respiratory Medicine and
  
• Urology.
  

Fortis, leveraging its tertiary care expertise will enhance and complete the medical programme from where it was left off by the previous management. Fortis will implement its systems and processes in the hospital, leading to higher level of quality and patient care.

Commenting on the new association Mr. Shivinder Mohan Singh, Managing Director, Fortis Healthcare Ltd. said, “We are happy at this addition to our network of hospitals. We are committed to providing quality healthcare to the people of Rajasthan. This facility shall facilitate increasing number of people in Rajasthan to experience and benefit from FORTIS’s patient centric approach and quality care. We appreciate and respect the trust in us by Ram Niwas Modi Charitable Society, for allowing us to work with them to make this a quality hospital”.

Speaking on the occasion, Dr. R.N. Modi of,
RNMCS said, “There has been a long awaited need for a professional and competent healthcare delivery provider partner. Fortis Escorts Hospital has already made a significant mark in the field of healthcare in Rajasthan. We are very optimistic about the association with the Fortis Group and are confident that it will add immense value to the services offered in the hospital.”