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Veritas Finance raises Rs 350 crore from Kedaara Cap, others

Veritas Finance has created a loan book of Rs 1,308 crore as February 29, 2020, with a customer base of 48,638 across eight states and one union territory Veritas Finance, the Chennai-based non-banking financial company (NBFC) focused on lending to micro, small, medium enterprise (MSME), on Thursday announced that it has raised Rs 350 crore through a Series E investment ... Read More »

Approaching Trade Finance From The Payables Side

Trade finance is a critical tool in supporting global trade for both buyers and sellers, particularly smaller businesses. Yet these financing products aren’t without their risks and drawbacks, and today, criticism continues to mount for certain invoice financing tactics in particular. High-profile corporate collapses and questionable invoice discounting programs run by major conglomerates has led financial officials in the U.K., U.S., Australia and beyond to take ... Read More »

Azimo, the money transfer service, secures €20M debt finance from the European Investment Bank

Azimo, the money transfer service that is HQ’d in London but has the majority of its staff based in based in Poland, has secured €20 million in debt from the European Investment Bank (EIB), the lending arm of the European Union. The financing is supported by the European Fund for Strategic Investments (EFSI), the financial pillar of the EU’s “Investment ... Read More »

From farm sector to personal finance, here’s The Indian Express’ full coverage of Budget 2020

Union Finance Minister Nirmala Sitharaman, flanked by her deputy Anurag Thakur (to her right) and a team of officials, shows a folder containing the Union Budget documents as she arrives at Parliament Facing one of the steepest slides in growth and just into the first year of its second term, the NDA-2 government decided to play safe when it came ... Read More »

10 Gadgets from CES 2020 that you can buy now.

CES 2020 took over Las Vegas from the 7th to the 10th of January, and as always, was a platform for giants of the tech industry to show-off what they had planned for the future, from foldable tablets and phones, to rotating TV’s, and wildest glimpses into the future of autonomous automotive technology from the likes of Mercedes. However, in ... Read More »

UK election rivals: Dueling promises from finance minister foes

Two men are vying to be the United Kingdom’s next finance minister. One is a former banker who hangs a portrait of free-markets champion Margaret Thatcher on his office wall; the other is a proud socialist intent on overthrowing capitalism. On Thursday, Conservative Party incumbent Sajid Javid and the Labour Party’s would-be finance minister John McDonnell used speeches to argue that the December 12 election is ... Read More »

Is The American Dream Fraying? What We Can Learn From The Finance Industry

Nearly 80% of Americans have a negative perception of big business. High-profile scandals, stagnant wages, harmful products, and poor working conditions are all to blame. That’s why the Business Roundtable made waves in August when it published a revised mission statement, signed by 181 prominent CEOs. According to the new statement of purpose endorsed by financial firms including JPMorgan Chase & Co., BlackRock, Inc., ... Read More »

Mahindra Finance looks to raise $460 million from offshore markets

Mahindra and Mahindra Financial Services, the non-bank arm of the Mahindra group, is looking to tap the overseas markets to raise at least $460 million through a mix of loans and bonds. The company had raised $200 million in FY19 through the external ECB route, and is in the process of raising another $160 million in overseas loans, said Ramesh ... Read More »

T-Mobile ‘crazy in love’ promotion of OnePlus 7 Pro tweeted from iPhone

It was so hard to contain the excitement of having #OfficiallySwitchedtoAndroid that even a media influencer working for T-Mobile forgot to actually use the BKK OnePlus 7 Pro she was “crazy in love with” and instead tweeted out her new device relationship status from her iPhone. The promotion for the product, occurring at a San Francisco T-Mobile retail store, intended ... Read More »

Manappuram Finance withdraws release on securing funding from NABARD

Non-banking finance company Manappuram Finance Thursday withdrew a release it had issued earlier in the day regarding securing debt funding from NABARD. The release titled ‘Manappuram Finance secures Rs 695 crore debt funding from NABARD’ is being “retracted with immediate effect due to factual inaccuracies in statement as well as transaction”, the company said. Manappuram Finance also said it would come out with a revised announcement ... Read More »