New Delhi, Mar 30 (PTI) Working capital loan facilitating platform for small and medium businesses CredAble disbursed record USD 3 billion (Rs 22,500 crore) during the financial year 2021-22, and expects to double the amount in next fiscal on more customer acquisitions and high demand for short-term business loans, co-founder and CEO Nirav Choksi said. [...]
New Delhi, Mar 30 (PTI) Gaming platform Games24x7 on Wednesday said it has raised USD 75 million (nearly Rs 570 crore) in funding led by Malabar Investments. Existing investors Tiger Global and Raine Group also participated in the latest funding round, the company said in a statement.The funds will be used to accelerate user growth, [...]
New Delhi, Mar 30 (PTI) Italian financial services firm Generali on Wednesday said it has become the majority shareholder of the Indian life insurance joint venture following all the regulatory approval. The company has completed the acquisition of the entire stake of around 16 per cent held by Industrial Investment Trust Limited (IITL) in Future [...]
New Delhi, Mar 30 (PTI) Axis Bank on Wednesday announced the acquisition of Citigroup's India consumer banking business, including credit card, retail banking, consumer loan and wealth management, for Rs 12,325 crore.Axis Bank will acquire about 30 lakh customers of Citibank India and grow its credit card portfolio by 31 per cent.The deal will give [...]
New Delhi, Mar 30 (PTI) V-Guard Industries plans to expand in northern, eastern and western regions of the country as it aims to garner over 60 per cent revenue from these regions in the next five-six years, a senior company official said on Wednesday.Currently, these regions contribute around 42 per cent of the business of [...]
Mumbai, Mar 30 (PTI) India Ratings has lowered its GDP growth forecast for FY23 to 7-7.2 per cent, from 7.6 per cent earlier citing the rising uncertainty over Russia-Ukraine war and the resultant dampening of consumer sentiment. Since the duration of the war continues to be uncertain, in the first scenario crude oil prices could [...]
Stalwarts from the Real Estate Industry and the Glitterati of Tinsel Town descended on “SOS Nitelife” - “Synergy Of Services Nitelife Private Limited”, as it hosted its first Edition of “DESI HOMES REALTY ICON AWARDS - 2022” & “SOS NITELIFE EXCELLENCE AWARDS – 2022”, on 25th March 2022’, at Hotel Taj Santacruz, Mumbai, India. Smt. [...]
New Delhi, Mar 30 (PTI) Food supply startup FarMart on Wednesday said it has secured USD 32 million (over Rs 240 crore) funding in a round led by General Catalyst. Existing investors -- Matrix Partners India and Omidyar Network India -- also participated in the Series B round. Elluminate Capital acted as the exclusive financial [...]
The country's largest private sector lender HDFC Bank on Wednesday said the elevated stress on unsecured loan assets noticed during the COVID-19 pandemic is over, and the bank is upbeat about the segment now. The unsecured lending book for the bank includes credit cards and personal loans. According to HDFC Bank's country head for consumer [...]
