Tag Archives: For

Leap Finance raises $5.5M to democratize financing for foreign-bound Indian students

Tens of thousands of Indians move to the United States to pursue higher education each year. But like many others who have arrived from a foreign land, they can’t secure education loans or personal loans from the banks at interest rates on par with those levied on local students. The reason why these students — or anyone else moving to ... Read More »

Ajeesh Achuthan: Making finance easy for startups

Ajeesh Achuthan | 28 Co-Founder and CTO, Open As a student at the University of Kerala, Ajeesh Achuthan had founded InLoc8, a location-based ad-tech startup that would help stores push offers and advertisements to consumers within a building or a shopping mall. “But that firm wasn’t scalable, and we eventually shut down,” he says.Soon after, he co-founded Zwitch, a payment ... Read More »

SBI Signs MoU With Realme For Electronic Dealer Finance Scheme

India’s largest lender and a pioneer in SME lending, State Bank of India (SBI) has taken yet another trendsetting step in this space by entering into a partnership with realme to cater to the inventory finance needs of the distributors and dealers of its brand realme – through SBI’s electronic lending product (e-DFS).  With this MoU the dealers and distributors ... Read More »

Bajaj Finance posts 52% rise in Q3 profit, sets aside ₹85 crore for Karvy loan

Consumer durable lender Bajaj Finance on Wednesday reported a 52% year-on-year (y-o-y) rise in consolidated net profit of ₹1,614.11 crore, its highest-ever quarterly profit, on the back of healthy interest income. Bajaj Finance’s interest income surged 39% y-o-y to ₹6,104.84 crore in the December quarter of FY20. The other large component of its revenues was in the form of fees and commission ... Read More »

9 must-read technology books for 2020

How do you keep up with technology change, given the exponential rate of tech advances today? It’s not easy and it’s not optional. Since technology underpins the competitive stance of most organizations, maintaining a working knowledge of current and emerging technologies is as important for IT leaders as building their soft skills or leadership abilities. To that end, we’ve pulled together a reading list ... Read More »

Finance Ministry plans tougher norms for high-value jewellery transactions: Report

The finance ministry is considering tightening norms for high-value jewellery transactions, Business Standard reported. Linking the transactions with Aadhaar or another ID proof has been proposed, the report said. Officials prefer Aadhaar over PAN as ID proof, sources told the paper. Another suggestion is to bring gem and jewellery dealers under the purview of the Prevention of Money Laundering Act (PMLA), ... Read More »

SBI’s new home finance scheme: Should you go for it?

The State Bank of India’s (SBI) recently-introduced loan offering – Residential Builder Finance with Buyer Guarantee – has been the centre of attention since its launch last week. As the name suggests, the assurance to prospective home-buyers on safeguarding their interests in case the project is abandoned is the scheme’s USP. However, this is not a different loan variant. Interest ... Read More »

The Education Department is cancelling $10.8 million in student loan debt for students at two shuttered schools

More than 1,500 former students at two shuttered schools will get a fresh start on their finances after the U.S. Department of Education said it will void their student loans. The department will cancel approximately 4,000 loans for ex-students at the Art Institute of Colorado and the Illinois Institute of Art, amid scrutiny from a Congressional committee and a class-action ... Read More »

Finance ministry turns down MoRTH’s demand for Rs 43,000 crore hike in outlay

Of the total budgetary support for the current fiscal, MoRTH has already spent Rs. 51,798 crore or 62% by September end, as per the Controller General of Accounts data. Despite the apparent thrust being given to infrastructure spending, the finance ministry has rejected the road transport and highway ministry’s demand for hiking the budget outlay for it by Rs. 43,000 ... Read More »

Finance Commission weighing incentives for states for farm reforms

These are among a plethora of stifling rules and regulations that have long hampered India’s progress in agriculture and, in turn, dented its farm export prospects. (Representational image) Fifteenth Finance Commission chairman NK Singh on Wednesday said the panel was considering working out a model to incentivise those states that undertake credible reforms in agriculture by easing or removing damaging ... Read More »