Empowering the Disabled: Government Announces 1% Rebate on Loan Repayments
The Indian Government, particularly the Ministry of Social Justice and Empowerment, has introduced an initiative to support Persons with Disabilities (PwDs), commonly referred to as ‘divyangjan’ in India, by offering a 1% interest rate rebate on loans.
India Shines Bright: Poised to Become World’s Second Largest Solar Module Manufacturer by 2025
By the end of March 2025, India’s annual solar module manufacturing capacity is expected to reach between 38 to 43 gigawatts (GW). This marks a nearly 400% increase from the 8GW per year capacity as of early 2021.
UPI Cleanup: NPCI to Deactivate Inactive IDs by December 31
This decision was taken to prevent the inadvertent transfer of funds to unintended recipients when customers change their mobile numbers without disconnecting the old number from the banking system. It addresses the possibility that the old mobile number may be assigned to a new operator.
Nippon Life India AIF Taps into Growing Private Credit Market with ₹1,000 Crore Initiative
Nippon Life India Alternative Investment Fund (AIF) has made a significant move in the financial sector of India by announcing its plan to mobilize ₹1,000 crore for the expansion of private credit.
Zurich Insurance Group Invests ₹4,051 Crore in Kotak General Insurance, Marking Largest Foreign Investment in Indian Non-Life Insurance
Zurich Insurance Group has announced a strategic alliance with Kotak Mahindra Bank, one of India’s leading private sector banks, by acquiring a 51% stake in Kotak Mahindra General Insurance Company Limited (Kotak General Insurance) for approximately USD 488 million.
Faster Speeds, Better Coverage, Lower Latency: Nokia and TATA Play Fiber Bring WiFi6 to India
Under the agreement, Nokia will supply Tata Play Fiber with an array of fiber-to-the-home (FTTH) and Wi-Fi equipment to support the broadband network expansion across India. This includes Optical Line Terminal (OLT), Optical Network Terminal (ONT) with Wi-Fi 6, and Wi-Fi mesh beacons.
Chaitanya India Fin Credit Acquisition: A New Chapter in Svatantra Microfin’s Growth Story
Svatantra Microfin Private Limited’s acquisition of Chaitanya India Fin Credit Private Limited, a subsidiary of the Navi Group led by Sachin Bansal, marks a significant consolidation in the Indian microfinance sector. This strategic move, valued at Rs 1,479 crore (approximately $178 million), has positioned Svatantra as the second-largest microfinance company in India.
Digital Innovation Meets MSME Expertise: Mastercard and U GRO Capital Partner for Growth
This collaboration aligns with Mastercard’s global mission of driving financial inclusion. Mastercard has committed to integrating one billion people and 50 million micro and small businesses, including 25 million female entrepreneurs, into the digital economy by 2025
Zomato Empowers Women with Maternity Insurance Plan for Delivery Partners
The insurance plan offers up to ₹25,000 for natural childbirth, up to ₹40,000 for cesarean sections, and up to ₹40,000 in case of maternity complications such as miscarriage and abortion.
GIFT City IFSC Registration Opens Doors for IndiaFirst Life’s Global Ambitions
IndiaFirst Life Insurance has achieved a significant milestone by becoming the first life insurance company to receive registration within the Gujarat International Finance Tec-City (GIFT City) International Financial Services Centre (IFSC).