Mother Dairy to launch cow ghee cookies from Gandhiji's Ashram
Mother Dairy is set to soon launch a heritage cookie that was invented by Mahatma Gandhi, Jamnalal Bajaj and Acharya Vinoba Bhave in 1931 to give a boost to the dairy industry at the Gandhi ashram at Wardha in Maharashtra. Union minister Nitin Gadkari, who has entrusted the National Dairy Development Board ( NDDB) for development of dairy in the suicide prone region of Vidarbha, is keen on commercial launch of the cookie, called Goras Pak, said officials. Made of cow ghee, honey and wheat flour in a wood fired oven, Goras Pak has been available only at the ashram-run store so far. According to the Jamnalal Bajaj Foundation, Gosanwardhan Goras Bhandar was started in Wardha in 1931 by Mahatma Gandhi, Acharya Vinoba Bhave and Jamnalal Bajaj, as serving cows was close to their heart.
“Goras Pak cookies was an initiative of the Wardha Ashram in 1931. These delicious cookies are made using pure cow ghee, honey and wheat flour and baked in a wood fired oven. It has a lot of sentimental value. It can get good market traction if re-invented,” said NDDB chairman Dilip Rath. Traditionally the cookies are handmade. However, Mother Dairy, which is expanding its bakery and confectionery portfolio, will make them in a mechanised way. “Goras Pak is a heritage delicacy confectionery. We have done research to match the traditional taste of the product even after making it in a mechanised way,” said Sangram Chaudhary, managing director, Mother Dairy Fruit and Vegetable.
Given that the product is made from healthy ingredients, the company is hopeful that it will appeal to today’s health conscious consumers. Mother Dairy has already launched orange burfi, using oranges grown in Vidarbha, and mawa made from milk. It will next launch shrikhand to give a boost to the dairy sector in the region.
HDFC Bank CEO designate Sashidhar Jagdishan said that the bank’s gross nonperforming loan on account of loan moratorium could widen from the current level of 1.36%, albeit it will still be below the worst case scenario of 2.08 seen during the global financial crisis. In a conference call with analysts, Jagdishan said that the bank is confident of containing NPLs to low levels despite 10% of the loan book under moratorium.
“Salary credits are at 98% of the precovid levels. So there could be some problems in 2% of its customers," he said.
However Jagdishan added that the current floating provisions of 5060 basis points will be sufficient to protect the bank from the impact of the pandemic. If needed, the bank is prepared to provide more against NPAs which may arise, he said. Jagdishan also made it clear that as the impact of pandemic continues, there will be demand for credit from low rated customers who will need support to manage their finances. However, HDFC bank will continue to maintain their risk standards. “We will cater largely to the top 2025% of the customers in semi-urban and rural areas. We still believe there is a 6-7% of loan market share up for grabs without diluting the risk standards," he said.
That said, semi-urban and rural areas will continue to be a large market opportunity for the bank. The loan deposit ratio in rural markets is just
said that the bank is confident of containing NPLs to low levels despite 10% of the loan book under moratorium
30-35% and it is a growing market for the bank, he said. Creating a digital ecosystem and monetizing it will be one of the key agendas for the incoming CEO over the next 2 years. The bank is trying to create a digital ecosystem and cross sell like Ping An. For this, the bank is partnering with one of the leading health chains and car dealer platforms which facilitates customer transactions, he said.
On the recent restrictions placed by Reserve Bank of India on opening current accounts for customers who have availed cash credit or overdraft facilities, Jagdishan said it is likely to have a neutral impact. While the bank may see a short term compression in working capital requirements from SME customers, they expect larger opportunities from retail customers. Jagdishan also addressed the concerns raised by analysts on the recent controversy over the lawsuit filed by Rosen law firm against the bank. He said that the management is confident that there is no wrongdoing and the bank has taken swift action against the people involved in the wrong doings in the auto loan division. In August, it was reported the bank is delaying sharing customer data with the Indian unit of Experian, a credit information company. This had led to the RBI, getting involved in the issue, according to the report. Jagdishan clarified that the bank was seeking more information on how to treat defaulters after the RBI introduced the loan repayment moratorium.
This had resulted in change in systems, which led to the data being submitted later than usual.