ZestMoney Acquired by DMI Group in Strategic Move
In a surprising turn of events, the DMI Group, a pan-India financial services platform, announced the acquisition of ZestMoney, a leading buy now pay later (BNPL) startup, on January 17, 2024. The deal is said to be a fire sale, as ZestMoney had shut down its operations in December 2023 due to funding crunch and […]
FinAGG’s $11M Series A: Blue Orchard, Tata Capital Lead
FinAGG Technologies, a fintech startup that provides working capital solutions to micro, small and medium enterprises (MSMEs), has raised $11 million in a Series A funding round co-led by global impact investment manager BlueOrchard and Tata Capital Limited. Small Industries Development Bank of India (SIDBI), and existing investor Prime Venture Partners also participated. About FinAGG […]
Amazon Receives CCPA Notice for ‘Shri Ram Mandir’ Sweets Sale
Amazon, the e-commerce giant, has been issued a notice by the Central Consumer Protection Authority (CCPA) for allegedly engaging in deceptive trade practices by selling sweets with misleading claims of ‘Sri Ram Mandir Ayodhya Prasad’. The action was initiated based on a complaint by the Confederation of All India Traders (CAIT), who accused Amazon of […]
NPS Ditching States: Employee Corpus Continues Earning Returns
The National Pension System (NPS) is a voluntary, defined contribution retirement savings scheme that offers a range of investment options to its subscribers. The scheme is regulated by the Pension Fund Regulatory and Development Authority (PFRDA) and aims to provide financial security to the citizens of India in their old age. However, some of the […]
LIC’s Jeevan Dhara II: A New Era of Deferred Annuity Plans
The Life Insurance Corporation of India (LIC) has launched a new individual, savings, deferred annuity plan called Jeevan Dhara II. The plan was unveiled by LIC Chairperson Siddhartha Mohanty on January 19, 2024, and will be available for sale from January 22, 2024. The plan offers a range of benefits and features to suit the […]
Akasa Air to Initiate Flights from Noida International Airport
Akasa Air, the new low-cost airline backed by billionaire investor Rakesh Jhunjhunwala, has announced its plan to start flights from the upcoming Noida International Airport (NIA), also known as Jewar Airport, in Uttar Pradesh. The airline has signed a memorandum of understanding (MoU) with NIA on Friday, becoming the second carrier to partner with the […]
INDRA Water Treatment: $4M Boost from Mela, Emerald Ventures
Indra Water, a smart water treatment systems provider, has raised $4 million in a Series A round led by Mela Ventures and Emerald Technology Ventures. The round also saw participation from Peak Sustainability Ventures and The Climate Angels. Indra Water was founded in 2017 by Amrit Om Nayak and Krunal Patel, who have backgrounds in […]
Bharat Rice: Govt’s New Entrant in the Retail Market
The government is planning to launch a new initiative to sell rice at a discounted rate of Rs 25 per kg under the Bharat brand, as part of its efforts to tackle the rising food inflation and provide relief to the consumers ahead of the 2024 Lok Sabha elections. Why Bharat Rice? According to the […]
SEBI’s Stricter Norms for AIFs: Safeguarding Fund Structures
The Securities and Exchange Board of India (SEBI) is the regulator of the capital markets in India. It is responsible for protecting the interests of investors and promoting the development and regulation of the securities market. One of the segments of the securities market that SEBI regulates is the Alternative Investment Funds (AIFs). What are […]
SEBI Chairperson Unveils CDSL’s Multi-Lingual Business Tools for Investors
In a bid to promote inclusivity and accessibility in the capital market, SEBI Chairperson Madhabi Puri Buch launched two multi-lingual initiatives of Central Depository Services Ltd (CDSL) at its silver jubilee function on January 17, 2024. Multi-Lingual CAS: A Step Towards Investor Empowerment The first initiative is the Multi-Lingual Consolidated Account Statement (CAS), which allows […]