Navigating New Norms: How RBI’s Clampdown on Unsecured Loans Affects Fintechs
Fintech firms have been actively involved in consumer lending, sanctioning almost Rs 30,000 crore for consumption loans between 2015 and 2022.
The Business of Free: Unpacking UPI Payment Firms’ Revenue Models
Paytm’s total merchant GMV in Q3 FY 2023 was ₹3.5 lakh crore, a year-over-year growth of 38%. They focus on payment volumes that generate profitability either through net payments margin or from direct upsell potential.
Indian Overseas Bank Unveils Rs 500 Crore Startup Lending Portfolio
They are targeting a startup portfolio of Rs 500 crore in the first year of operations in FY25. Following the launch in Chennai, IOB plans to expand these specialized startup branches to other major Indian cities like Bengaluru, Hyderabad, and Mumbai.
Revitalizing Retail: FMCG’s New Growth Strategies for Kirana Stores in 2023
Rural India’s consumption growth revival is being led by the southern (2.8%) and eastern (3%) zones, while urban India continues to drive value growth with a 5.3% increase in Q1 2023 across food and non-food categories.
Arcil in the Forefront for IDBI Bank’s ₹8,842 Crore Non-Performing Assets
In a significant development in India’s banking sector, a consortium of investors, including the notable Asset Reconstruction Company India Limited (Arcil), has expressed interest in acquiring the distressed assets of IDBI Bank, amounting to a staggering ₹8,842 crore.
Alipay’s Strategic Exit: Selling $395M Stake in Zomato
Alipay, a unit of the Chinese conglomerate Ant Group, is set to offload its entire 3.4 percent stake in Zomato. This translates to a massive sale of approximately 296 million shares. The shares, according to market sources, are priced at ₹111.28 each, aiming to raise a substantial sum of ₹3290 crore, equivalent to about $395 million.
Fiscal Challenges: Indian States Struggle to Meet Capex Targets Amid Revenue Decline
The central issue causing this shortfall is a steep fall in revenue receipts, leading to major compression in state capex. During the first half of Fiscal Year 2024 (FY24), state capex rose to a record 35%.
Indian Government Advises Banks to Appoint Nodal Officers to Combat Cyber Risks
In a significant move to bolster cybersecurity in the banking sector, the Indian Finance Ministry, on November 28, 2023, issued an advisory to banks, urging them to appoint nodal officers to address cyber security concerns.
Garuda Aerospace’s Medium Category Drones Receive DGCA Approval, Expanding Their Potential for Disaster Management
In a significant development for India’s drone technology sector, Garuda Aerospace, a leading drone manufacturer, has obtained its second type certificate for medium category drones from the Directorate General of Civil Aviation (DGCA).
Driving Innovation: Murugappa Group’s $791 Million Semiconductor Plan
The Chennai-based Murugappa Group has recently made a significant announcement that it will be investing $791 million over the next five years to enter the semiconductor assembly and testing space.