Mumbai, Maharashtra – Nov 06, 2023 (GNI): As pollution levels reach record highs in Mumbai, Tide1, the UK’s leading business financial platform, has rolled out an environment-friendly PrithWE Rupay Card for SMEs in Maharashtra. The distribution of the cards will begin ahead of Diwali.
The rollout aligns with efforts of the Maharashtra government that has been working to reduce air pollution in the city and has taken a number of steps to do so, including a warning to halt construction activities. Amid worsening air quality in Mumbai, the Brihanmumbai Municipal Corporation (BMC) issued a warning to halt construction activities, regardless of whether they are on private or government properties if proper dust and pollution control measures are not implemented.
The key provisions include dust mitigation measures at all construction sites (including government projects), deployment of anti-smog guns on 60 major roads and expert evaluation of pollution sources like refineries, power plants and fertiliser units.
Tide’s PrithWE RuPay card employs recycled materials which make it possible to take part in the reduction of plastic waste and therefore plastic pollution. PVC recycling reduces the need for further extraction of oil, a main fossil fuel, to support the creation of new PVC.
Gurjodhpal Singh, CEO, Tide India, said: “At Tide, we believe that businesses need to take strong action now, not tomorrow, to mitigate climate change. Our industry-first move supports India’s efforts to curtail the spiralling effects of greenhouse gases.
“We are delighted to roll out the PrithWe Rupay Card for SMEs in Mumbai. The cards support the government’s environment-friendly initiatives, contribute to reducing plastic waste and demonstrate Tide’s promise of supporting the growth of SMEs in India.”
As they expand their businesses, Tide is committed to helping SMEs in Mumbai reduce their environmental impact. This includes Tide’s pledge to make it easier for members (customers) to reach Net Zero in India, and globally. Net Zero is a target of negating the amount of greenhouse gases produced by human activity, to be achieved by both reducing emissions and implementing the absorption of carbon dioxide from the atmosphere.
Made from 99% recycled plastic, this is the first such move by a fintech company in India. Each rPVC card will save 7g of carbon and save 3.18g of plastic, which would ordinarily be used in the production of a new card made with virgin PVC.
In March, Tide became the first fintech in the world to remove 100% of its emissions with durable carbon removals as of 2022 onwards. The business has also committed to becoming fully Net Zero by 2030 and to support its UK members (10% of UK SMEs), and growing network of Indian SMEs on their journey to Net Zero.
About Tide: Founded in 2015 and launched in 2017, Tide is the leading business financial platform in the UK. Tide helps SMEs save time (and money) in the running of their businesses by not only offering business accounts and related banking services, but also a comprehensive set of highly usable and connected administrative solutions from invoicing to accounting. Tide has 550,000 SME members in the UK (10% market share) and more than 150,000 SMEs in India. Tide has also been recognised with the Great Place to Work certification.
It employs nearly 1,500 Tideans worldwide. Tide’s long-term ambition is to be the leading business financial platform globally.ends GNI
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