<keyword id="6357203" type="General" weightage="20" keywordseo="varanasi" source="Orion">Varanasi</keyword>, often referred to as the spiritual heart of India, is a city that pulsates with ancient wisdom, vibrant traditions, and an undeniable mystique. Nestled on the banks of the sacred river Ganges, Varanasi, also known as Kashi or Banaras, is a tapestry of spiritual fervor and cultural richness. While this city is enchanting throughout the year, it transforms into an ethereal realm during Diwali, the festival of lights. Diwali in Varanasi is a celebration that transcends the ordinary, immersing visitors in a divine experience like no other. The <keyword id="19458413" type="General" weightage="20" keywordseo="significance-of-varanasi" source="Orion">Significance of Varanasi</keyword>: Varanasi is one of the oldest continuously inhabited cities in the world, with a history dating back thousands of years. It is considered the spiritual capital of India and holds immense religious and cultural significance. The ghats along the Ganges, the labyrinthine alleys, and the numerous temples create an aura of timeless spirituality that attracts pilgrims, seekers, and tourists alike. Diwali in Varanasi: A Radiant Celebration: Diwali, the festival of lights, is celebrated with unparalleled grandeur in Varanasi. The city, already aglow with spiritual energy, becomes a luminous spectacle during this festive season. Diwali in Varanasi is not just a celebration; it's a cosmic event where divinity, tradition, and the fervor of the people converge to create an atmosphere that is both sacred and joyous. Unique Traditions and Celebrations: Ganga Aarti at the Ghats: The Ganga Aarti at the Dashashwamedh Ghat is a quintessential Diwali experience in Varanasi. Against the backdrop of the gently flowing Ganges, priests clad in vibrant attire perform a mesmerizing ritual with large brass lamps. The ghats are illuminated with countless diyas (earthen lamps), creating a surreal ambiance that reflects the divine significance of the festival. Decorated Ghats and Temples: The ghats and temples along the Ganges are adorned with intricate rangoli designs and colorful flower decorations during Diwali. The soft glow of diyas and the flickering lights from temples cast a magical spell, turning the entire city into a visual marvel. Fireworks Over the Ganges: As the night sky descends upon Varanasi, it comes alive with the brilliance of fireworks. The explosions of color overhead, reflected on the surface of the Ganges, create a dazzling display. The echoes of firecrackers resonate with the joyous spirit of the festival. Diya-lit Boat Procession: A unique tradition during Diwali in Varanasi is the diya-lit boat procession on the Ganges. Locals and pilgrims float small, earthen lamps in the river, creating a shimmering pathway of lights. This spiritual gesture is a symbolic offering to the sacred river and is believed to bring blessings and prosperity. Special Pujas and Ceremonies: Temples in Varanasi organize special pujas and ceremonies during Diwali. Devotees throng to seek the blessings of deities, and the air is filled with the chants of mantras. The spiritual resonance of these rituals adds an extra layer of sanctity to the festive fervor. Exploring the Diwali Markets: <keyword id="19458412" type="General" weightage="100" keywordseo="varanasi-during-diwali" source="Orion">Varanasi during Diwali</keyword> is not just about spiritual celebrations; it's also a time for vibrant markets and bustling bazaars. The markets come alive with the hustle and bustle of shoppers seeking decorative items, traditional attire, and an array of festive goodies. The aroma of sweets, the glitter of decorative items, and the lively banter of the locals create a sensory experience that complements the spiritual essence of Diwali. Culinary Delights of Diwali in Varanasi: No festival in Varanasi is complete without indulging in its delectable cuisine. Diwali is a time for special sweets and savories that tantalize the taste buds. From the melt-in-the-mouth goodness of malaiyo (a frothy, sweet delicacy) to the richness of Benarasi paan, the culinary delights during Diwali add a flavorful dimension to the celebrations. Precautions and Responsible Celebrations: While Diwali is a time for exuberance and joy, it's essential to celebrate responsibly. Varanasi, like many other places, witnesses increased air pollution during the festival due to fireworks. Considering the city's historical and spiritual significance, locals and authorities have been making efforts to encourage eco-friendly celebrations, emphasizing the use of fewer fireworks and more traditional lighting methods. Conclusion: A Divine Tapestry of Light and Devotion: Diwali in Varanasi is not just a festival; it's a symphony of lights, devotion, and cultural richness that weaves together the spiritual tapestry of this ancient city. The illuminated ghats, the echoing chants, and the vibrant celebrations create an atmosphere that lingers in the hearts of those who are fortunate enough to experience it. Varanasi during Diwali is a testament to the resilience of traditions and the timeless beauty of a city that stands as a living embodiment of India's spiritual and cultural heritage. Note: The article is based on content generated by AI models like Bard and Chatgpt.

Varanasi during Diwali: A celestial symphony of lights and spirituality

The <keyword id="43254" type="PERSON" weightage="20" keywordseo="Yogi-Adityanath">Yogi Adityanath</keyword> government in <keyword id="6357713" type="LOCATION" weightage="20" keywordseo="Uttar-Pradesh">Uttar Pradesh</keyword> will comply with the orders of <keyword id="146133" type="COMPANY" weightage="20" keywordseo="National-Green-Tribunal">National Green Tribunal</keyword> (NGT) regarding firecrackers on Diwali. According to the Additional Chief Secretary, Home, Avanish Awasthi, "The NGT's order is a detailed one and we will comply with it. The air quality is deteriorating and steps have to be taken to address the issue." Cities including Lucknow, Varanasi, Prayagraj, Bareilly, Firozabad, Jhansi, Kanpur, Bulandshahr, Moradabad and RaeBareli may go in for a complete ban on use of crackers during Diwali. A senior official said that District Magistrates will be taking decision, keeping in mind the pollution level in their respective districts. While Meerut has already imposed a ban on firecrackers, Lucknow has so far banned only certain categories of firecrackers. Among the firecrackers banned in Lucknow are the most preferred 'ladis' or 'chatai' (cracker series) and similar high decibel crackers. "Sale of only those crackers that are in compliance with the Supreme Court's order would be allowed," said Naveen Arora, Joint Commissioner of Police (JCP). "On festivals like Diwali and Gurupurab, fireworks would be allowed only between 8 pm and 10 pm. On Christmas and New Year's Eve, fireworks may start from 11.55 pm and continue till 12.30 am," the guidelines said. Besides, the district administration has defined 'No Cracker Zones' in the city, including hospital, nursing homes, educational institutions, court and zoological gardens. Agra Additional District Magistrate, Ajay Tiwari, said that bursting of firecrackers will not be allowed. "Instructions have already been issued to all police stations to initiate strong action against storage of firecrackers or their use," he said. Agra District Magistrate Prabhu Nath Singh, said: "No fresh license for sale of firecrackers is being issued. All renewals too are on hold and so is the practice of issuing temporary license." Agra has been one of the highly polluted cities in Uttar Pradesh this season. SEE ALSO: <a href="https://www.businessinsider.in/politics/india/news/checkout-here-bihar-assembly-election-2020-results-and-updates-online/articleshow/79142084.cms" data-type="tilCustomLink">Bihar Election Results 2020: Counting of votes begin, early trends indicate the Grand Alliance edging ahead of the JDU</a> <a href="https://www.businessinsider.in/tech/news/google-will-be-probed-by-indias-competition-commission-for-allegedly-abusing-dominance-to-push-gpay/articleshow/79141895.cms" data-type="tilCustomLink">Google will be probed by India’s Competition Commission for allegedly ‘abusing dominance’ to push its payments app</a> <a href="https://www.businessinsider.in/science/health/news/pfizers-covid-19-vaccine-is-90-effective-in-preventing-coronavirus-in-those-who-havent-been-infected-ever-before/articleshow/79130097.cms">Pfizer’s COVID-19 vaccine is 90% effective in preventing coronavirus in those who haven’t been infected ever before, shows data from latest trials</a>

Uttar Pradesh will comply with NGT orders on firecrackers — Lucknow, Varanasi, Kanpur may impose a complete ban during Diwali

Prime Minister Narendra Modi on Monday made a fervent appeal to people to promote 'local for Diwali' big time and buy local products this festival season, saying it will give a new boost to the economy. While inaugurating and laying foundation of <keyword id="10246172" type="UNKNOWN" weightage="20" keywordseo="various-projects-worth-rs">various projects worth Rs</keyword> 614 crore for his <keyword id="10245170" type="UNKNOWN" weightage="20" keywordseo="Lok-Sabha-constituency-Varanasi">Lok Sabha constituency Varanasi</keyword> via video conferencing, he said buying local products will not only strengthen local identity but will also brighten up Diwali for those who make them. <div type="twitter" handle="narendramodi" handlename="Narendra Modi" image="http://pbs.twimg.com/profile_images/1249934092994375680/xX66NSZP_normal.jpg" favoritecount="4651" retweetcount="921" status="मेरा आग्रह है कि वोकल फॉर लोकल के साथ ही #Local4Diwali को भी खूब प्रमोट करें। इससे स्थानीय पहचान तो मजबूत होगी ही… https://t.co/xpG7SH5pPU" createdat="1604912801000" id="1325726493935165441"></div> Extending festival greetings to the people, he said, "You are seeing today that along with vocal for local, the mantra of local for Diwali is resonating everywhere." "Celebrating Diwali with local will give a new boost to the economy. I would like to say to the people of Varanasi and all countrymen that promote 'local for Diwali' big time," he said. When every person will buy local products with pride, will talk about local products, hail them and take the message to others that our local products are so good, this message will go far," Modi said. "Going for local doesn't mean only purchasing 'diya' but everything you use in Diwali. It will encourage those making them," the prime minister said and added in a lighter vein that by going local he doesn't mean "throwing things you have bought already in the River Ganga". The prime minister also spoke about agriculture reforms introduced by the government, saying they will connect farmers directly to the market and "send middlemen out of the system". "The agriculture reforms will give direct benefit to farmers. They will be directly connected to the market and the middleman will be out of the system. The farmers of Purvanchal (eastern Uttar Pradesh) will also be benefitted from this," he said. Highlighting various schemes launched by the government, Modi said under the Swamitva scheme, farmers will be issued property cards, which will not only help them get loans, but the "game of grabbing their properties will also end". He said Varanasi is witnessing all-round development in all sectors and this is giving a new identity to the city. "The development in Varanasi is not only helping the people of Purvanchal, who now will not have to go to Delhi for their works, but also helping people from other parts of the country," he added. Starting his address in Bhojpuri with "Har Har Mahadev", the prime minister appreciated the people of Varanasi for their "social unity" in fighting the coronavirus pandemic. He hailed the farmers of Purvanchal, saying even during the pandemic, they worked hard in their fields and are witnessing good crops. Earlier, the prime minister laid the foundation stone of various development projects for Varanasi, including those related to agriculture, tourism and infrastructure worth Rs 614 crore. The prime minister also interacted with locals during the event through video conferencing. Uttar Pradesh Chief Minister <keyword id="43254" type="PERSON" weightage="20" keywordseo="Yogi-Adityanath">Yogi Adityanath</keyword> was present on the occasion. The projects inaugurated include upgradation of <keyword id="6365933" type="PERSON" weightage="20" keywordseo="lal-bahadur-shastri">Lal Bahadur Shastri</keyword> Hospital Ramnagar, sewerage related works, infrastructure facilities for protection and conservation of cows, a housing complex for players in Sampurnanand Stadium, multipurpose seed storehouse and Sarnath Light and Sound show. During the event, the prime minister also laid the foundation stone for projects including redevelopment of <keyword id="48375" type="PERSON" weightage="20" keywordseo="Dashashwamedh-Ghat">Dashashwamedh Ghat</keyword> and Khidkiya Ghat, barracks for PAC police force, upgradation of the multi-purpose hall in Girija Devi Sanskritik Sankul, repair work of roads in the city and development of tourist places. SEE ALSO: <a href="https://www.businessinsider.in/politics/world/news/kamala-harris-indian-ancestral-village-celebrates-her-victory-as-she-becomes-vice-president-of-the-united-states/articleshow/79117206.cms" data-type="tilCustomLink">Kamala Harris' Indian ancestral village celebrates her victory as she becomes Vice President of the United States</a> <a href="https://www.businessinsider.in/tech/news/hyperloop-pod-carries-two-humans-through-a-tube-at-over-160-kmph-for-the-first-time-ever/articleshow/79121765.cms" data-type="tilCustomLink">Hyperloop pod carries two humans through a tube at over 160 kmph for the first time ever</a> <a href="https://www.businessinsider.in/tech/news/top-cyber-espionage-groups-that-have-india-in-their-crosshairs/slidelist/79120867.cms" data-type="tilCustomLink">Top cyber espionage groups that have India in their crosshairs</a>

PM Modi inaugurates projects worth ₹614 crore for Varanasi, asks people to promote 'local for Diwali'

<img class="gwt-Image" src="/photo/49552063.cms" /> 
<a href="http://www.businessinsider.in/searchresult.cms?query=%E2%80%8BDiwali">Diwali</a> is one of the most important festivals celebrated in India. It is not only an official public holiday not only in India, but in many neighbouring countries like Mauritius, Malaysia, Nepal, Sri Lanka, Guyana, Trinidad &amp; Tobago, Myanmar, Surinam and Fiji. Expedia lists down <keyword id="24194" type="UNKNOWN" weightage="80" keywordseo="destinations">destinations</keyword> that will comfort your <keyword id="6354692" type="ORGANIZATION" weightage="80" keywordseo="Travel">travel</keyword> itch, without missing on the festivities. 
 
Destinations in India 
 
Jaipur: One must visit this place to experience the beauty and energy of the festival. The famous pink city welcomes the tourists with beautifully colored lit and decorated lights. The city is adorned with lamps and local musicians performing on the streets. The markets here sell over a thousand types of earthen lamps in many shapes, sizes and colors and the markets are flooded with traditional clothes and handicrafts. Each year, there's a competition for the best decorated and most brilliantly lit up market. Apart from a feast to the eyes, you can treat your palate to delicious sweets and food items. 
 
Varanasi: The Ghats of Ganga are lit up with thousands of diyas, giving it a mesmerizing view. The light of the countless floating candles and lamps illuminates the holy river beautifully. Tourists enjoy the Special Ganga Aarti on the irradiated Ghats making it a different experience altogether. 
 
Goa: <a href="http://www.businessinsider.in/searchresult.cms?query=%E2%80%8BDiwali">Diwali</a> in Goa is also known as Narak Chaturdasi and the town celebrates the destruction of demon Narakasura by Lord Krishna. The houses are decorated with kandeels (lanterns). Competitions are held to see who can make the biggest and scariest effigy of the demon. The effigies burned at dawn on Narakasura Chaturdashi, the day before the main day of <a href="http://www.businessinsider.in/searchresult.cms?query=%E2%80%8BDiwali">Diwali</a>. Also popular for its casinos, the place attracts a lot of tourists as gambling is also a popular activity during <a href="http://www.businessinsider.in/searchresult.cms?query=%E2%80%8BDiwali">Diwali</a>. 
 
Amritsar: The Golden Temple is draped with brightly lit lights on the <a href="http://www.businessinsider.in/searchresult.cms?query=%E2%80%8BDiwali">Diwali</a> evening making it an extravagant spectacle for the onlookers. The edge of the lake is fringed with countless oil lamps and candles lit by devotees. The reflection of the diyas on the water creates a truly magical environment. It is quite a sight to behold. 
 
Foreign destinations 
 
London: The <a href="http://www.businessinsider.in/searchresult.cms?query=%E2%80%8BDiwali">Diwali Festival</a> in London is organised by the Mayor of London in cooperation with the <a href="http://www.businessinsider.in/searchresult.cms?query=%E2%80%8BDiwali">Diwali</a> in London Committee. This year's event will be hosted alongside the National Army Museum to commemorate the role India played in World War I and will pay tribute to the soldiers of the British Empire and Commonwealth. Starting with children parade, the show is followed by number of other dance sequences, including Indian folk dances. 
 
Singapore: Singapore is the one of the destination chosen by Indians to celebrate <a href="http://www.businessinsider.in/searchresult.cms?query=%E2%80%8BDiwali">Diwali</a>. The massive decorations which starts from the streets and extends to the colonies and homes especially in Serangoon Road which is also called little India of Singapore. Special festival events like the Festival Village, the Fire-Walking Festival and the UTSAV Street Parade have been planned by the Singaporean authorities. 
 
Malaysia- Just like India, <a href="http://www.businessinsider.in/searchresult.cms?query=%E2%80%8BDiwali">Diwali</a> is an official holiday in Malaysia and people gather around to celebrate it together. Decorations such as colourful paper lanterns and kolam (rangoli) are put up to decorate homes. Known as Little India in Kuala Lumpur, places like Brickfields, Jalan Tuanku Abdul Rahman, Masjid Jamek, and Monorail are a few places to enjoy the festival. 
 
Nepal: Also known as Tihar, <keyword id="188" type="ENTERTAINMENT" weightage="80" keywordseo="Diwali">Diwali</keyword> is a five-day Nepalese festival, each dedicated to a different God. The traditions vary from those followed in India. It is all about worshiping of different animals and worshiping of the Hindu Goddess of Fortune or Wealth. The last day of the festival is known as Tika day or popularly known as Bhai Tika day. It is also one of the biggest shopping seasons in Nepal. 
 
(The article has been authored by Mr. Manmeet Ahluwalia, Marketing Head, Expedia India)

Places to explore during Diwali

Walking, cycling and even skating! Covering long distances amid bone-chilling cold, people from all over the country and cutting across religions are flocking to the temple town of <keyword id="19897034" type="General" weightage="20" keywordseo="ayodhya" source="keywords">Ayodhya</keyword> ahead of the consecration ceremony on January 22. Driven by their faith in Lord Ram and carried through by the overwhelming religious mood in the country, they say they desire to be a part of the historic day and want to send out a message of love and unity. Nitish Kumar, a resident of Bihar's Madhepura district, has cycled more than 600 km to reach Ayodhya. "It took me seven days to cover 615 km from Bihar to Ayodhya. I have reached today. I was carrying a sleeping bag and some essentials with me on my cycle only to help me take some breaks on the way. I had decided to do this when the Supreme Court verdict came, I was still in school then," the 21-year-old told PTI. "I will come next time with my family. We are a strong believer in Lord Ram. They will also be celebrating on January 22 but I wanted to be part of this historic day in Ayodhya," he added. Kumar has adorned his bicycle with four flags -- a tricolour and three saffron flags bearing pictures and a 'Jai Shri Ram' message. Soni Chaurasia, a Guinness Book record holder for the "longest dance marathon" (124 hours), is among the invitees for the consecration ceremony and is skating her way to Ayodhya from Varanasi. "I left Varanasi on January 17 and will reach on January 22. I have skated this long before too but the weather right now is a challenge. The entire journey is 228 km. I am being accompanied by my coach and doctor who will follow me on a motorbike," Chaurasia told PTI. Himanshu Soni, who is just 10 years old, set out for Ayodhya on skates from Rajasthan's Kotputhli on January 16 aiming to cover a distance of 704 km. "My family is a believer in Lord Ram and when we looked around, the atmosphere is no less than Diwali right now. I wanted to be in Ayodhya on the day of the consecration ceremony and what better way to reach there other than pursuing my talent," Soni said. Aiming to spread the message of Hindu-Muslim unity, Shabnam Shaikh is walking from Mumbai to Ayodhya. "The total journey is over 1,400 km. I walk around 60 km a day and take multiple breaks. Being a girl, it is an obvious concern to look for a safe space to take breaks during the journey but wherever I am going I am being welcomed by people," she said. Dressed as Mahatma Gandhi with round spectacles and a stick in his hand, Muttna Tirlapura, a resident of Karakitti in Karnataka, has marched over 2000 km on foot to reach Ayodhya. "Gandhiji used to take 'Ram naam' daily. Who other than him to spread the message of Lord Ram! I am going places to spread this message only," said Tirlapura, who refers to himself as 'adhunik Gandhi' (Modern Gandhi). Omesh Bhagat (47) who refers to himself as "Buddha Uncle" is on an all-India cycling tour with a message to save the environment. With a solar panel installed on the backseat of his cycle, Bhagat has cycled over 13,000 km since May and has now reached Ayodhya. "The religious mood that we see in the country is overwhelming. Have never seen this before. But there is also a message that though Ayodhya will see an economic boom now, we should not forget that we need to preserve the environment here," he said. Naresh Gupta, a 36-year-old farmer from Kharsia in Chattisgarh walked barefoot for nearly 700 km to reach Ayodhya. "It took me two months to reach here. I used to take several breaks. It was a memorable journey and I was determined to complete it. At times, the weather made it difficult to walk barefoot but I managed," Gupta told PTI. Jaswinder Singh Lucky and his son, who are from Uttarakhand, are cycling to Ayodhya from the hill town. They will reach the holy city on January 20. "The message we want to send out is of communal harmony. We are Sikhs and we believe in Lord Ram too," he said. Similarly, Nitin Bhatia, a Sikh from Batala in Punjab, is cycling over 1,100 km to reach Ayodhya on the same day as Lucky and his son. The first phase of the temple is nearing completion and Prime Minister <keyword id="19895781" type="General" weightage="20" keywordseo="narendra-modi" source="keywords">Narendra Modi</keyword> will take part in its consecration ceremony on January 22. The Supreme Court delivered a historic verdict in 2019, settling a temple-mosque dispute that dated back more than a century. The court backed the construction of a Ram temple at the disputed site and ruled that an alternative five-acre plot must be found for building a mosque.

Skating, cycling, walking — The journeys people are taking to reach Ayodhya

Delhi-NCR has emerged as India's digital payments capital whereas Tamil Nadu's Katpadi is the fastest growing city for digital payments with 7X growth in 2022, One97 Communications Limited (OCL), that owns leading payments and financial services company <keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">Paytm</keyword>, said in a report on Wednesday. The company helped its users avoid 1,618,796,629 trips to ATMs. Paytm is taking digital payments far and wide, driving financial inclusion with two out of three of its new users coming from smaller cities and towns. According to the aPaytm 2022 Recap' report, which highlighted interesting trends of transactions made through Paytm in 2022, <keyword id="6076084" type="General" weightage="20" keywordseo="Paytm-UPI" source="Orion">Paytm UPI</keyword> is one of the most preferred payment methods for Indians, with its superfast and secure payments. An intriguing observation is that the maximum number of payments have been done at 7.23 p.m. with Wednesday emerging as the busiest day in the week for digital transactions. Two of the most common names among Paytm's users are Rahul and Pooja, according to the report. Chennai and Trichy in Tamil Nadu have the highest percentage of offline payments on food and beverages while Amritsar saw the highest spend on health and grooming through Paytm. Noida and Nagpur saw the highest percentage of spending via Paytm on micro sellers or street side vendors. Paytm's market in the North East also saw huge growth. The fastest growing cities in the North East for UPI transactions are -- Lohit in Arunachal Pradesh, South Sikkim and Ranipool, and Assam's Guwahati, Dibrugarh, Jorhat and Kamrup, the report mentioned. "As the pioneer of QR and mobile-based payments in India, we continue to see widespread love for the most trusted payments app -- Paytm," said a company spokesperson. "Over the last year, we have seen greater adoption among consumers and merchants, leading to some interesting trends with Paytm UPI leading the way. With the trust bestowed upon us by our users, we remain focused on driving financial inclusion in India," the spokesperson added. One user made transactions in 106 cities across 20 states. Another user booked flights between Mumbai and Delhi 358 times using the Paytm app, said the report. Paytm continues to strengthen its leadership in offline payments with more than 5.5 million merchants now paying subscriptions for payment devices. <keyword id="9418617" type="General" weightage="20" keywordseo="Paytm-Soundbox" source="Orion">Paytm Soundbox</keyword> is the sound of merchant transactions in India, with a new merchant and their customers being greeted by its melody every six seconds. With Paytm UPI, the company enables seamless and superfast money transfers. One user referred more than 1,300 of his friends and family to Paytm last year and earned over Rs 1 lakh. "Engaging observations have been seen in merchant transactions with Rs 20 being the most common amount paid on <keyword id="4053117" type="General" weightage="20" keywordseo="Paytm-merchant" source="Orion">Paytm merchant</keyword> QRs. Varanasi has seen 213 per cent growth in Offline QR transactions," the findings showed. During the online Diwali sale season, the highest amount spent by a single user was Rs 2.8 lakhs. Another festival that saw a high volume of Paytm UPI transactions is Rakhi, with Rs 1,100 being the favourite "shagan". SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/most-anticipated-indian-movies-releasing-in-2023/slidelist/96560782.cms">SRK, Rajnikanth, Ranveer Singh to fire up the silver screens in 2023: most-anticipated Indian movie releases</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/indias-digital-ad-spend-estimated-to-surge-to-21-billion-in-the-next-five-years-rising-2-5x-over-fy22-levels-says-redseer/articleshow/96544113.cms">India’s digital ad spend estimated to surge to $21 billion in the next five years, rising 2.5x over FY22 levels, says Redseer</a>

Tamil Nadu's Katpadi is the fastest growing city for digital payments: Paytm report

New Delhi, June 8 () Utkarsh Small Finance Bank expects its loan portfolio to grow at a slower rate of 15-20 per cent in the current financial year mainly on account of the lockdown impact which kept loan demand muted, a top official said. The expected loan growth in 2020-21 is significantly lower than the 40 per cent growth in the company's loan portfolio in 2019-20, MD and CEO Govind Singh said. The gross loan portfolio in 2019-20 stood at Rs 6,660 crore. The lender which began operations as a small finance bank in 2017, transiting from a microfinance lender since 2009, recorded nearly two-fold jump in net profit at Rs 186.74 crore in the last financial year as against Rs 93.89 crore in 2018-19. The bank's income from operations too jumped by 48 per cent to Rs 1,307.68 crore in 2019-20 from Rs 881.04 crore a year ago. "I think the type of growth we had seen last fiscal will be difficult to match. But certainly we wil have some growth vis-a-vis 40 per cent growth in our loan portfolio in FY20," Singh told in an interview. "It(growth) might be restricted to around 15-20 per cent because, one the book (loan) may almost be flat till September because currently there is no movement. And secondly what happens is that for microfinance and other businesses (lending), the second half of the year picks up because of festivals such as Dusshera, Diwali and others," Singh told in an interview. The small finance bank's bulk of the lending portfolio --89 per cent-- is towards microfinance, he said. The second set of customers are those related to MSME and affordable housing segment while a little less than 5 per cent of the overall portfolio is towards small corporates. However, Singh said there may be some kind of incremental demand of say 10-12 per cent over and above the current loan outstanding from the existing borrowers because their cash flows have been restricted due to the lockdown period in the last about two months. He said the Varanasi-headquartered bank may even provide higher incremental loan if borrowers demand so. When asked about the RBI-mandated moratorium, he said the bank expects nearly 30 per cent of the borrowers to be requiring the delayed payment facility while 70 per cent will continue paying back at regular pace. Singh said the lender is telling people about the interest cost involved in opting for the moratorium. "We are telling them there is an interest cost included. Currently, we are telling them that we can support them with 10-12 per cent of incremental loan, in case they require it, but that will be a marginal number only." On the NBFC and HFC borrowers under the corporate loan portfolio, he said nearly 30 per cent of them have asked for the moratorium. "Till April, all of them have paid but later on some of them were finding it difficult because their collections too were impacted during the lockdown period. "So 30 per cent of the companies under the corporate loan have asked for moratorium and rest 70 per cent are paying regularly," he added. On the demand side, there are two sets of customers like those who have received dry rations and jobs under the government's guaranteed employment for certain days under MNREGA, asking for loan. Those borrowers in semi-urban and rural segment and in non-containment zones, who are not into providing essential services, they are also coming up regularly. "They may require incremental money but not big money," he added. However, challenges remain in containment zones, he added. KPM ANU ANU

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Varanasi during Diwali: A celestial symphony of lights and spirituality

Shagun Chaudhary

Uttar Pradesh will comply with NGT orders on firecrackers — Lucknow, Varanasi, Kanpur may impose a complete ban during Diwali

IANS

PM Modi inaugurates projects worth ₹614 crore for Varanasi, asks people to promote 'local for Diwali'

PTI

Places to explore during Diwali

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Skating, cycling, walking — The journeys people are taking to reach Ayodhya

PTI

Tamil Nadu's Katpadi is the fastest growing city for digital payments: Paytm report

IANS

Utkarsh Small Finance Bank expects slower loan growth in FY21 due to lockdown :CEO

PTI