Tata Capital takes out credit scores for loans; makes 'salaams' a criteria

Tata Capital is looking to extend its 'Do Right' initiative with the announcement of 'Salaam Loans'. 

 

The idea behind 'Salaam Loans' is to extend loans to deserving individuals who may not have access to organised credit.The initiative was conceptualised by Leo Burnett and Tata Capital. 

 

One has to submit their story, or stories of people they know, on www.doright.in. Tata Capital will provide a loan to the people whose stories get over 1,000 likes. The company has relaxed tedious documentation process and lowered high interest rates for these applicants.

 

A film for the same has been released. It follows the journey of a young man who is looking to re-open his bakery but is unable to gather the funds required to do so. After facing refusal from each and every financial institution he approaches, he finally fulfils his dream thanks to a timely loan from Tata Capital Salaam Loans.

 

Veetika Deoras, COO, digital vertical and head – brand marketing and corporate communication, said, “The proposition of the Tata Capital brand is – We only do what’s right for you, and as a purpose-led brand we have always believed in doing right by all our stakeholders. Salaam Loans, a true embodiment of that spirit, is a unique and innovative loan product, which specifically caters to the needs of those individuals who are otherwise denied access to organised credit. The product provides these individuals their #LoanKaHaq by handing over the first layer of filtration to the public. Individual stories which secure more than 1,000 salaams/likes are then processed for loan application. Leo Burnett has been a key partner for us in this initiative and has been instrumental in crafting the positioning for the campaign”.

 

Rajdeepak Das, CCO, Leo Burnett, South Asia said, “It’s incredible how Tata Capital Salaam Loans democratises the approval process using likes on social media. We believe that charity can only better one’s present, but providing a timely opportunity can change one’s future. Tata Capital’s new offering resonated with Leo Burnett’s Humankind philosophy, and #LoanKaHaq as a campaign empowers every person shunned by financial institutions. We are excited at the idea’s potential and the avenues it opens up for people who need them the most.”

 

The campaign has touchpoints on digital, radio, outdoor and social media.For the ones with no access to the internet, on-ground booths across various locations have been set up, including one such booth in Dharavi, Mumbai. People can register their stories here, after which Tata Capital will display them across its website for people to cast their ‘salaam’. Additionally, people can also register via SMS, by sending ‘Salaam’ to 56161561 to send in their stories or call the toll-free number.

 

CREDITS:

 

Client: Tata Capital

CEO, Leo Burnett South Asia and Publicis Communications India: Saurabh Varma

CCO, South Asia: Rajdeepak Das

CSO, South Asia: Dheeraj Sinha

Business head: Oindrila Roy

Executive creative director: Vikram Pandey

Creative team: Geo Joseph, Sagar Parab, Bhuvan Bali, Yash Ambre, Gaurav Bumb, Vipul Joshi

Account management:  Neil Mogre, Hemal Thakkar

 

Digital agency: Indigo Consulting

Vice president: Saurabh Mankhand

National creative director: Navin Kansal

Client service director: Ameya Mukund Mohane

Account director: Rohan Ichaporia

Account manager: Naresh Nair

Creative team: Priyanka Gopal, Anamika George, Shaili Contractor, Gaurang Bailoor, Yatin Tondawalkar, Pankaj Bari, Sacchidanand Chavan

 

Production house: Prodigious

 

Executive producer: Vandana Watsa

Producer: Akshay Multani, Anup Das

Associate producer: Rajdeep Rahi

Film director: Joyeeta Patpatia, Mohit Israney

Assistant director: Seap Chadda, Abhishek Parmar

DOP: Manoj Lobo, Titu K Jena

Line producer: Bhupesh Pathak