The Aditya Birla Capital has emerged as the key growth engine for the group with over Rs 4 lakh crore in assets, said Kumar Mangalam Birla, chairman of the Aditya Birla Group during the launch of its supper app Aditya Birla Capital Digital (ABCD) on April 16.
Aditya Birla Capital also announced the launch of omnichannel ABCD D2C platform to significantly scale up its digital transformation journey.
The group will target 30 million new users through this app, it said in a statement.
"I see this as a ‘coming of age’ moment for Aditya Birla Capital. In the arc of Aditya Birla Capital’s strong and steady progress, the ABCD D2C platform is a positive stride towards accelerated growth and taking leadership position in the financial services space," he said.
"The ABCD platform has been built by a talented team that brings together deep and diverse experience from Banks, Fintechs, NBFCs, Payments and Consulting firms," Birla added.
The financial services sector will play a very crucial role in the group's growth, said Birla, adding that the merger of their NBFC into AB Capital has created more synergies.
Birla further said that the mission is to be in the top three in each of the businesses of the group.
Vishakha Mulye, CEO of Aditya Birla Capital said, “Our consistent commitment to digital reinvention and reimagining customer experiences is reflected in our omnichannel architecture which gives customers the complete flexibility to interact with us through their channels of choice. In line with this vision, we formed ABCD to build the omnichannel layer that will help us acquire customers digitally at scale and meet all their financial needs through a unified digital-first platform."
In February, the company also entered the paints business with the launch of Birla Opus paints with a capital of Rs 10,000 crore.
Meanwhile, the government came out in support of Vodafone Idea’s upcoming fundraising, and finance secretary TV Somanathan said that preserving competition with multiple operators in the market is a major policy goal, according to CNBC-TV18.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
