The company said 70 percent of the funds were raised from existing investors and that the funds will be deployed in mid- and growth-stage entities across sectors in the startup ecosystem.
Nirmala Sitharaman to meet PSB chiefs tomorrow to discuss loan disbursement; to review interest rate transmission to borrowers
The deployment of excessive funds by banks under the reverse repo route may also come up for discussion on Friday, sources said.
SBI to extend moratorium to NBFCs to tide over coronavirus pandemic crisis, says MD Dinesh Kumar Khara
The country's largest lender SBI has decided to extend the RBI-approved moratorium to the cash-strapped NBFC sector to help them tide over the crisis, its MD Dinesh Kumar Khara said on Thursday
Coronavirus Lockdown: 88 micro financiers ready to begin operations in green, orange zones, says industry body
Microfinance Institutions Network (MFIN) on Monday said 88 micro financiers associated with it are ready to begin operations in green and orange zones
Coronavirus Outbreak: Despite personal loss, Assam hospital cleaner stays put in quarantine; doctors, nurses spend time reading, watching shows
Quarantine is definitely more screentime albeit on the consumers' end. Be it the mobile phone or the television, perhaps both are the best tools to be exploited to the core when in quarantine.
Coronavirus Outbreak Updates: No relaxations in 88 hotspots in Kerala, restrictions to be eased in Orange-B and Green zones from 20 April
Coronavirus Outbreak Updates: Kerala police chief Loknath Behera said the relaxations of restrictions imposed would come into effect in the Green and Orange-B zones in the state from Monday, allowing among other the movement of private vehicles on odd-even basis,an official release said.
Coronavirus Outbreak updates: COVID-19 count in Delhi reaches 1,893; No decision yet on starting domestic, international flights, says Hardeep Singh Puri
Coronavirus Outbreak updates:Civil Aviation Minister Hardeep Singh Puri on Saturday said airlines are advised to open bookings only after the government takes a decision on starting domestic and international commercial passenger flight services.'The Ministry of Civil Aviation clarifies that so far no decision has been taken to open domestic or international operations,' he wrote on Twitter.
Coronavirus Outbreak LIVE Updates: With 118 new COVID-19 cases today, tally in Maharashtra crosses 3,000-mark; toll rises to 194
Coronavirus Outbreak LIVE Updates: The Union health ministry said that about 63,000 personal protective equipment (PPE) kits which arrived from China recently did not fulfill the criteria.
RBI Governor Press Conference: Shaktikanta Das announces relief measures for liquidity in system, to ease financial stress
Stating that the RBI is monitoring the situation developing out of Covid-19 outbreak, he noted that the contraction in exports in March at 34.6 percent was much more severe than global financial crisis of 2008-09.
At a time when every businessman is preserving cash given the massive disruption caused by the Covid pandemic, small-sized non-banking lender Ugro Capital has paid back the entire Rs 50 crore it had raised from a firm floated by Sachin Bansal of the Flipkart fame ahead of due date
The Reserve Bank on Monday said bank credit to registered NBFCs towards agriculture, MSEs and housing sector up to prescribed limits will be treated as priority sector loans during the next fiscal starting April
MaxWholesale raises $3 mn from IAN Fund, Abu Dhabi's Al Falaj Investments; aims to expand reach to kirana stores soon
With the fund infusion, MaxWholesale will hire talent to develop its technology further and accelerate growth
Private equity, VC investments hit record high of $48 bn in 2019; huge fund flow to infrastructure sector drives growth: Report
As per the report, private equity/VC investments in infrastructure space were at $14.5 billion in 2019, which were higher than the cumulative PE/VC infrastructure investments received in the previous seven years.
Budget 2020: Nirmala Sitharaman's fiscal math seems to have put worst behind; economy set to rebound with proposals announced
The Budget brought more clarity on the fiscal deficit side by pegging the deficit figures at 3.8% of the GDP for FY 2019-20 and 3.5% for FY 2020-21, showing a deviation of 0.5% from the fiscal glide path.
Multiple third-party startups are coming up to help fintechs recover dues
Shriram Transport Finance on Monday reported 38.4 percent rise in consolidated net profit at Rs 879.16 crore for the third quarter ended December.
Budget 2020: Financial sector players want govt to consider reducing GST on term insurance, streamline KYC norms
The NBFC sector is looking forward to measures in Union Budget to bring NBFCs at par with Banks and other financial institutions on the regulatory landscape.
PFC, REC merger hits roadblock as amalgamation to violate RBI norms on debt exposure of state-owned shadow banking firm
In March 2019, PFC had completed acquisition of a majority stake in REC by transferring Rs 14,500 crore to the government with hope of merger of the two firms in 2019-20.
The agency found that the loans were diverted between 2011 and 2016 and the 79 companies were allegedly associated with the promoters of DHFL