HDFC strategically invested Rs.10 cr for a 1.5% stake in Grameen e-store to increase its reach to the rural areas. Grameen, e-store, will utilise the funds to expand its technology, product portfolios, and distribution channels. With the partnership with Pepsi, coca-cola, and Bharat petroleum it has made a sale of 22.5 lakh orders with a value of Rs.252 cr, since April last year. As 60-70% of Indians reside in semi-urban/rural areas, improving technology for growing the economy is a must.
Annapurna Vishwanathan has been appointed as the CIO of Cummins India. She last served Hindustan Coca Cola Beverages as Head-Digital. Cummins India, a Fortune 500 companies, is in the business of designing and manufacturing engines and their components. Vishwanathan, at Cummins, will be tasked to strengthen business ops and other key functions using IT. An IIT-Delhi alumnus, she has over 15 yrs of experience.