Access to credit is a critical ingredient to fulfill one's dreams and unfortunately the same is often denied to certain sections of the society who need it the most.
Tata Capital has recently launched 'Salaam Loans'- a unique and special, limited product, under the Company's 'Do Right' initiative, to extend loans to deserving individuals who may typically not have access to organized credit. The initiative aims to salute the unbreakable spirit of those who brave severe circumstances and yet dare to dream big and pursue their dreams with relentless determination.
The digital film made for the promotion of the idea follows the journey of a young man who is running from pillar to post in the hope of a loan. His dream is to re-open his now deceased father's 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 fulfills his dream thanks to a timely loan from Tata Capital Salaam Loans.
The ad film has been conceptualised by Leo Burnett and produced by Prodigious. Speaking on the film, Rajdeepak Das, chief creative officer, Leo Burnett, South Asia tells afaqs!, "Salaam Loans is not just about the ad film; it is the world's first-ever democratised loan offering. We have created a product that shifted the power of loan approval from the hands of a few to India's 200 million strong Facebook community, thus revolutionising the approval process."
In the ad film, we see the heartfelt journey of a differently abled man. The film names him Sagar Parab. "Sagar Parab's story is representative of millions of people across the country. It is the story of Rupesh Bhalerao, the man who has polio but was hitherto unable to even open his own grocery store. Of Nisha Bakshe, a transvestite who always wanted to start her own saree shop. Of Nipun Kawathekar, a brilliant student who cannot pay his final engineering semester's fees. You can go through numerous such deserving stories on the website (www.DoRight.in), who just need a small push to fulfill their dreams." adds Das.
The ad film takes a sentimental route in getting the point across. It is often tricky to establish the fine balance to ensure that the core idea is not diluted with the emotional overdrive. Das tells us, "..The film, which is just a small subset of a much bigger idea, depicts the emotional journey of people who are trying their best to get a loan. Heartening stories are always inherently emotional, and in this case, the emotion you see was naturally integral to the idea."
'Salaam Loans' is a first-of-a-kind initiative to encourage these deserving people by giving them their '#LoanKaHaq'. It does so by democratising the process of loan approval - for the first time ever, the power of loan approval is in the hands of people, as the public at large will be called upon to 'salaam' for the stories of such deserving individuals. All one has to do is to submit their story, or stories of people they know, on the website (www.doright.in). Tata Capital, within a week, will provide a loan to the people whose stories get over 1000 likes.
The company has even relaxed the tedious documentation process and lowered high interest rates - factors that are synonymous with loan applications. The minimum applicant age is 21 years, at the time of applying for the loan. Moreover, one cannot apply for the loan if the person has crossed 60 years of age for salaried or 65 years for self-employed. The loan can be availed within the range of Rs. 25,000 to Rs. 1,00,000 which can be repaid over a period of 12 to 36 months. No security or collateral is required for obtaining Salaam Loans.
Speaking on the campaign, Veetika Deoras, chief operating officer, digital vertical and head, brand marketing and corporate communication says, "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 organized credit.
Tata Capital's latest initiative seems to be garnering positive response from loan seekers as well as public at large. A total of 100 loans (i.e. a maximum book size of Rs 1 crore) will be disbursed in the first phase of this initiative. Deoras tells afaqs!, that the campaign so far has managed an organic reach of more than 1 million, delivering over 30 million impressions and over 1 million video views across social media. She adds, "As of date, we have received over 500 enquiries of which close to 40 stories (applications) are already live on our website www.doright.in and are seeking salaams from public. The campaign has seen extremely high engagement rates, being shared over 10,000 times on Facebook and Twitter."
Apart from the digital film, Tata Capital's YouTube page has several short videos where applicants can be seen narrating their story and appealing viewers to vote for them. One such video is that of transgender activist, Gauri Sawant who was last scene in Vicks' #TouchOfCare ad film. Sawant hopes to open a shelter home called, 'Nani Ka Ghar' in Karjat, where senior members of the transgenders society can look after the children of sex workers and help them become respectable members of the society. Commenting on the same, Deoras tells afaqs!, that each story highlights the issue of lack of access to credit faced by certain segments of society and that they do not plan to release a separate ad film featuring Sawant.
The integrated campaign has touch-points on digital, radio, outdoor and social media. While people can visit the website to upload their stories, there are other accessible touch-points for them to write in. 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, Asia's largest slum. 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.
Chief Executive Officer, Leo Burnett South Asia & Publicis Communications India:Saurabh Varma
Chief Creative Officer, South Asia: Rajdeepak Das
Chief Strategy Officer, 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
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