MAM
Castrol India enrolls over 1.5 lakh mechanics and retailers on a unique digital incentive platform
MUMBAI: Castrol India Limited, the leading automotive and industrial lubricant manufacturing company in the country, announced that
Castrol Fast Scan – its unique digital incentive platform for key stakeholders including mechanics and retailers has already reached 1.5 lakh users. Standard Chartered Bank is the banking partner for this industry-first solution.
Castrol Fast Scan currently helps retailers and mechanics to earn, track and redeem rewards, and receive them instantly in their bank account using IMPS, leading to significant simplification and shortening of the incentive payment cycle from months to minutes.
Castrol Fast Scan has acquainted many mechanics and retailers to banking on the go, besides inculcating a savings mindset. Castrol Fast Scan has witnessed initial success and widespread acceptance with the current average daily transactions pegged at over one lakh transactions amounting to INR 6 crores being reimbursed monthly.
Commenting on the announcement, Omer Dormen, Managing Director, Castrol India Limited, said, “Castrol Fast Scan reinforces our commitment to our key stakeholders like mechanics and retailers to continue to add value to their respective businesses. Designed and developed in-house by Castrol India team and working on a robust
back-end system, Castrol Fast Scan delivers a premium customer experience along with simplification and creates a significant differentiation by helping our stakeholders in financial inclusion and digital upskilling.”
Zarin Daruwala, CEO, Standard Chartered Bank, said, “Technology is disrupting the way our clients operate and as a bank, we endeavour to work closely with them to develop customised eco-system solutions to drive their strategic growth.This solution has not only addressed a market need, but also delivered on a larger digital agenda for India, whereby now Castrol can facilitate incentive payments to various stakeholders round the clock, in an instant and cashless manner. We truly believe that this partnership is one of its kind as it unlocks options where client-bank collaboration can provide exciting possibilities through transformation across industries.”
As next steps, Castrol Fast Scan aims to double its users in the next 12 months. It is an avenue for collaboration for other corporate partners looking to reach and reward various stakeholders in a transparent and secure manner.
Castrol Fast Scan offers numerous possibilities to enable sustained and customised engagement programmes for a variety of stakeholders. This will play a big role in enlarging their awareness and industry knowledge along with technical upskilling and capability building.
Brands
Axis Bank named Official Banking Partner of DP World PGTI
Partnership supports all tournaments this season to grow professional golf in India.
MUMBAI: Axis Bank just teed up a hole-in-one partnership because when a bank sponsors golf’s biggest swing in India, even the fairways feel more financially secure. Axis Bank has been appointed Official Banking Partner of the DP World Professional Golf Tour of India (DP World PGTI), strengthening its commitment to sporting excellence and community engagement while backing the growth of professional golf across the country.
Under the partnership, Axis Bank will support all DP World PGTI tournaments this season, contributing to talent development, enhanced tournament experiences and wider fan engagement. The collaboration aligns the bank’s values of precision, discipline and trust with the Tour’s focus on performance and opportunity.
Axis Bank executive director Munish Sharda said, “We are pleased to partner with DP World PGTI as its Official Banking Partner. Golf embodies precision, discipline, and a pursuit of excellence qualities that strongly reflect who we are at Axis Bank. This association also strengthens our engagement with India’s growing premium customer segments, where the sport has a deep and enduring connect.”
Professional Golf Tour of India president Kapil Dev said, “We are extremely pleased to welcome Axis Bank as a Tour Partner of the DP World Professional Golf Tour of India. Partnerships of this stature play a vital role in strengthening the foundation of the Tour, enhancing opportunities for our players, and expanding the sport’s reach across the country.”
Professional Golf Tour of India CEO Amandeep Johl added, “Axis Bank’s strong legacy of excellence, innovation, and nationwide reach aligns perfectly with DP World PGTI’s goal to elevate professional golf in India and provide greater opportunities for our players.”
In a sport where every stroke counts and every partnership drives distance, Axis Bank isn’t just backing golfers, it’s investing in the fairway to future, turning India’s greens into a stage where precision meets passion and every drive has the power to inspire.
