{"product_id":"cholamandalam-business-model-canvas","title":"Cholamandalam Investment and Finance Business Model Canvas","description":"\u003cdiv class=\"pr-shrt-dscr-wrapper orange\"\u003e\n\u003csection class=\"pr-shrt-dscr-box\"\u003e\n\u003cdiv class=\"pr-shrt-dscr-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Magnifier-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCholamandalam IF: Concise Business Model Canvas — Strategy, Revenue \u0026amp; Partnerships\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"pr-shrt-dscr-content\"\u003e\n\u003cp\u003eUnlock the full strategic blueprint behind Cholamandalam Investment and Finance’s business model—this concise Business Model Canvas uncovers value propositions, customer segments, revenue levers, and key partnerships that drive growth.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eP\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eartnerships\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper green\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eMurugappa Group Ecosystem\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eCholamandalam leverages Murugappa Group’s 125-year brand (group revenue ₹36,000 crore in FY2024) to build trust in rural\/semi-urban markets, boosting NBFC gross AUM growth—32% YoY in MSME and retail segments in 2024—via cross-selling with sister firms like Tube Investments and Carborundum.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eBanking and Financial Institutions\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eStrategic alliances with public and private banks ensure steady liquidity and credit lines; as of FY2024 Cholamandalam Investment and Finance raised ~38% of funding via bank borrowings and listed NCDs totaling ₹6,420 crore in FY2024, helping control cost of funds through term loans and non-convertible debentures.\u003c\/p\u003e\n\u003cp\u003eCo-lending deals with banks expanded the loan book while sharing credit risk; in 2024 co-lending contributed about 12% of new disbursals, lowering portfolio concentration and improving weighted-average lending spreads.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eAutomobile Dealers and Manufacturers\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eCholamandalam maintains tight partnerships with OEMs and 25,000+ local vehicle dealers to drive point-of-sale financing, which supplied ~34% of new vehicle loans in FY2024-25 (company AUM ~INR 90,000 crore). These integrations embed loan sourcing into dealer workflows, shortening approval time to under 48 hours on average and making dealer referrals a primary acquisition channel for its core vehicle finance book.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFintech and Technology Providers\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cpcollaborations with fintech firms and software developers help cholamandalam investment finance modernize lending infrastructure credit scoring including ai-driven analytics that reduced default prediction error by in sped up origination\u003e\n\u003cptechnology partners also secure and scale digital platforms used by field staff million customers enabling automated document verification real-time monitoring.\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eAI risk models cut prediction error ~12% (2024)\u003c\/li\u003e\n\u003cli\u003eOrigination speed +30% after fintech integration\u003c\/li\u003e\n\u003cli\u003e2.4 million digital customers, 15,000 field staff\u003c\/li\u003e\n\u003cli\u003eAutomated KYC\/document verification, real-time monitoring\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/ptechnology\u003e\u003c\/pcollaborations\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInsurance and Third-Party Product Providers\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003ePartnerships with insurers let Cholamandalam offer credit-linked insurance and borrower protection, reducing portfolio NPL risk; as of FY2024 the company reported fee and commission income of INR 1,120 crore, partly driven by bancassurance and product tie-ups.\u003c\/p\u003e\n\u003cp\u003eThese alliances also generate non-interest income via commissions and fees—fee income grew ~8% YoY in FY2024—while lowering expected loss through transferred risk and improved recovery rates.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eFee \u0026amp; commission income: INR 1,120 crore (FY2024)\u003c\/li\u003e\n\u003cli\u003eFee income YoY growth: ~8% (FY2024)\u003c\/li\u003e\n\u003cli\u003eRole: risk transfer, borrower protection, cross-sell revenue\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCholamandalam scales AUM to ~₹90k cr with 38% bank funding, rising fees and lower AI errors\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eCholamandalam leverages Murugappa Group brand, bank co-lending, OEM\/dealer networks, fintech and insurer tie-ups to scale AUM (~₹90,000 cr FY2024-25), raise 38% funding via banks\/NCDs (₹6,420 cr FY2024), drive 34% vehicle sourcing, 12% co-lending share of disbursals, and boost fee income (₹1,120 cr FY2024) while cutting AI default error ~12% (2024).\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eAUM\u003c\/td\u003e\n\u003ctd\u003e~₹90,000 cr\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eBank\/NCD funding\u003c\/td\u003e\n\u003ctd\u003e38% (₹6,420 cr)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eVehicle sourcing\u003c\/td\u003e\n\u003ctd\u003e34%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCo-lending\u003c\/td\u003e\n\u003ctd\u003e12% disbursals\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eFee income\u003c\/td\u003e\n\u003ctd\u003e₹1,120 cr\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAI error cut\u003c\/td\u003e\n\u003ctd\u003e~12%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-includes\"\u003e\n\u003ch2\u003eWhat is included in the product\u003c\/h2\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Word-Icon.svg\" alt=\"Word Icon\"\u003e\n\u003cstrong\u003eDetailed Word Document\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eA concise Business Model Canvas for Cholamandalam Investment and Finance outlining customer segments, value propositions, channels, revenue streams, key activities, resources, partnerships, cost structure, and risk\/competitive analysis tied to real-world NBFC operations—ready for presentations, investor discussions, and strategic decision-making.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"plus-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Plus-Icon.svg\" alt=\"Plus Icon\"\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Excel-Icon.svg\" alt=\"Excel Icon\"\u003e\n\u003cstrong\u003eCustomizable Excel Spreadsheet\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eHigh-level view of Cholamandalam Investment and Finance’s business model with editable cells, condensing lending, distribution, risk management and revenue streams into a clean one-page snapshot ideal for boardrooms, team collaboration, and quick comparative analysis.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eA\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003ectivities\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCredit Underwriting and Risk Management\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eThe core activity applies rigorous credit assessment using traditional financials plus alternative data (mobile, utility, agro-yield); underwriting teams achieved a 1.8% retail NPA versus 3.2% industry average in FY2024, reflecting tighter selection. Specialized units model cash flows for rural and SME borrowers without formal records, supporting ~28% of loan book and keeping 90+ day delinquencies near 1.5%. Continuous market and regulatory surveillance adjusts geographic risk appetite monthly, guided by RBI circulars and regional PD shifts.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLoan Disbursement and Collection\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eCholamandalam runs end-to-end loan disbursement and collection—fast digital disbursals plus a 50,000-strong field force for door-to-door collections—keeping GNPA at 1.6% in FY2024 (Mar 31, 2024). The team pairs physical outreach with SMS, IVR and app reminders, driving \u0026gt;90% monthly recovery efficiency in rural branches.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDigital Transformation and IT Maintenance\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eCholamandalam Investment and Finance prioritises continuous digital investment to shift from manual to automated, paperless lending—rolling out mobile apps for 12,000 field officers and self‑service portals used by 1.8 million customers as of Dec 2025.\u003c\/p\u003e\n\u003cp\u003eMaintaining 99.95% system uptime and PCI\/DPA‑grade data security is critical to handle a 38% year‑on‑year rise in digital transactions and protect sensitive loan data.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eProduct Innovation and Portfolio Diversification\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eCholamandalam researches demand to roll out products like professional loans, micro‑SME loans and affordable housing; by FY2024 the NBFC reported non‑vehicle loans rising to ~28% of AUM, up from 18% in FY2020, cutting vehicle concentration and raising cross‑sell.\u003c\/p\u003e\n\u003cp\u003ePilots run in select branches; successful offers scale across 1,100+ branches with performance thresholds (PAR90, yield targets) guiding rollout.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eNon‑vehicle AUM ~28% (FY2024)\u003c\/li\u003e\n\u003cli\u003eBranches 1,100+\u003c\/li\u003e\n\u003cli\u003ePilots → scale based on PAR90 \u0026amp; yield\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCustomer Acquisition and Marketing\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eCholamandalam targets brand growth in Tier 2–4 towns via localized campaigns; in FY2024 the company reported ~35% business from rural markets, boosting loan originations by 12% year-on-year.\u003c\/p\u003e\n\u003cp\u003eField officers run direct marketing and community outreach, generating a steady lead pipeline—NBFCs see ~18–22% conversion in similar channels—keeping Cholamandalam competitive in a crowded NBFC market.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e35% of FY2024 disbursals from rural\/Tier 2–4\u003c\/li\u003e\n\u003cli\u003eLocalized campaigns raised originations 12% YoY\u003c\/li\u003e\n\u003cli\u003eField-marketing conversions ~18–22%\u003c\/li\u003e\n\u003cli\u003eFocus: brand, leads, competitive edge\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRobust hybrid lender: low NPAs, 1.8M customers, 50k staff, 28% non‑vehicle AUM\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eCore activities: rigorous credit underwriting (retail NPA 1.8% vs industry 3.2% FY2024), hybrid disburse‑+collection (GNPA 1.6% Mar 31, 2024; 50,000 field staff), digital scale (1.8M customers Dec 2025; 99.95% uptime) and product expansion (non‑vehicle AUM ~28% FY2024; 1,100+ branches; 35% originations from rural).\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eRetail NPA FY2024\u003c\/td\u003e\n\u003ctd\u003e1.8%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eGNPA (Mar 31, 2024)\u003c\/td\u003e\n\u003ctd\u003e1.6%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eNon‑vehicle AUM FY2024\u003c\/td\u003e\n\u003ctd\u003e~28%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCustomers (Dec 2025)\u003c\/td\u003e\n\u003ctd\u003e1.8M\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eBranches\u003c\/td\u003e\n\u003ctd\u003e1,100+\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eField staff\u003c\/td\u003e\n\u003ctd\u003e50,000\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRural origination share FY2024\u003c\/td\u003e\n\u003ctd\u003e35%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eSystem uptime\u003c\/td\u003e\n\u003ctd\u003e99.95%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003ch2\u003e\n\u003cspan style=\"color: #3BB77E;\"\u003eFull Document Unlocks After Purchase\u003c\/span\u003e\u003cbr\u003e Business Model Canvas\u003c\/h2\u003e\n\u003cp\u003eThe document you're previewing is the actual Cholamandalam Investment and Finance Business Model Canvas—not a mockup—and reflects the exact structure, content, and layout you will receive after purchase.\u003c\/p\u003e\n\u003cp\u003eWhen you complete your order, you’ll download this same professional, fully editable file ready for presentation, analysis, or customization in Word and Excel formats.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Explore-Preview.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e","brand":"MatrixBCG","offers":[{"title":"Default Title","offer_id":56748664258937,"sku":"cholamandalam-business-model-canvas","price":10.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0911\/3554\/1625\/files\/cholamandalam-business-model-canvas.png?v=1772210358","url":"https:\/\/matrixbcg.com\/products\/cholamandalam-business-model-canvas","provider":"MatrixBCG","version":"1.0","type":"link"}