Dinesh Kamath's news 'Improving Earnings & Environment at the Same Time – Magma & PCRA show the Way, Truckers taught how to save up to 30 ltrs of fuel every 1000 km' that was published in Newsband

Improving Earnings & Environment at the Same Time – Magma & PCRA show the Way

Truckers taught how to save up to 30 ltrs of fuel every 1000 km

By Dinesh Kamath

NAVI MUMBAI: Magma Fincorp, Indian’s leading NBFC that gives loans to unbanked drivers, farmers and job workers, has, in collaboration with Petroleum Conservation Research Association (PCRA), Government of India, launched a nation-wide initiative to help Indian truckers reduce their operating costs by improving their mileage and hence reduce air pollution that causes many ailments among truckers.

Magma, the lender of construction equipment loans, commercial vehicle loans, car loans, SME loans, housing loans, and Insurance, has identified high traffic transport regions to drive awareness of better driving habits.

The first activity was organized at Kalamboli Truck Terminus, Mumbai. This transport region witnesses around 500 trucks daily on an average day. Spread through the day, the training sessions were conducted by PCRA certified trainers for batches of 15 drivers each. The interactive training session through physical demonstration, videos and theory informed the truck drivers about efficient driving habits, which could help them save 30 litres of fuel for every 1000 km.

More than 100 truck drivers attended the activity. The event also saw fleet owners participate enthusiastically. Talking about the activity that will take place across the country’s transport regions, Mr. Sandeep Walunj, CMO Magma Fincorp said “The trucking as well as construction equipment industries have been under severe operating pressure off late and since between 50% and 60% of the operating cost comes from fuel, we thought of getting the latest knowledge of fuel efficient driving to the truckers across India. The response from truckers and fleet owners has been very enthusiastic and that has motivated me and my team to redouble of our efforts.”

PCRA Chief Regional Coordinator, Western Region, Mr. D. Roy Chowdhury appreciated Magma’s initiative and extended trainer and knowledge support to Magma. Talking about the initiative he said, “PCRA under Ministry Of Petroleum and Natural Gas, Govt. Of India is relentlessly working for improved fuel efficiency and creating awareness amongst Indian citizens about conservation of Petroleum Product and energy as a whole in four key sectors of economy viz Transport, Industry, Domestic and Agriculture. We appreciate the initiative taken by Magma as through this initiative we get to directly spread awareness among the primary audience – the truck drivers.”

Mr. R B Mane, Additional Director PCRA, further added, “Transport Sector consumes more than 50 % of Petroleum Product. Road transport is the biggest diesel-consuming segment accounting for about 64 per cent of diesel consumption in India. Out of the total diesel consumed by road transport, trucks and buses account for about 77 per cent and hence in view of conservation of Petroleum product Transport Sector is a crucial sector. Driver Training Program for Truckers in unorganised sector at various locations in India was a much required need. We are glad that Magma Fincorp has come up with this initiative and fully support them."

Mr. Walunj added that, encouraged by the response to this initiative,  Magma is now looking at providing regular health check-up and PUC certification facilities  at Transport Nagars; alongwith regular Fuel Consevation Trainings with PCRA

About Magma Fincorp Limited

Magma Fincorp Limited (“Magma”) is a non-deposit taking non-banking finance company (NBFC), registered with the Reserve Bank of India (RBI) as an Asset Finance Company. The Company, having started operations over two decades back, is listed on the Bombay Stock Exchange Limited and the National Stock Exchange in India.

Magma provides a bouquet of financial products including financing of Utility Vehicles & Cars, Commercial Vehicles, Construction Equipment, Used Commercial Vehicles, Tractors and SME Loans. It has also operates in Affordable Housing Finance and General Insurance segments. Magma has a dedicated base of around 4.7 lakh active customers. The company operates through 240 branches in 21 states / 1 UT and employs around 10,464 people.