Author: NFAPost News Service

First Indian Bank to launch eco-friendly debit card that comes with rewards for cardholders New Delhi, NFAPost: Airtel Payments Bank, India’s only profitable multi-segment fintech operating at scale with a banking license, becomes the first Indian Bank to launch eco-friendly debit card for its new and existing customers with a savings bank account. The launch comes in alignment with the Bank’s commitment to sustainability and promoting eco-friendly practices within the financial sector. The debit cards will come in r-PVC material, a certified eco-friendly material. With adoption of this eco-friendly material, Airtel Payments Bank will make a significant impact on environmental…

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Move likely to catapult Svatantra to become the 2nd largest NBFC-MFI with a combined AUM of Rs 12,409 Cr Mumbai, NFAPost: In one of the biggest deals in the microfinance industry, Ananya Birla’s Svatantra Microfin Private Limited (Svatantra), has entered into a definitive agreement to acquire Chaitanya India Fin Credit Private Limited (Chaitanya), a wholly owned subsidiary of Navi Group (Navi). The transaction of Rs 1,479 crore is expected to be completed by the end of 2023, subject to receipt of regulatory approvals and customary closing adjustments. The proposed acquisition is expected to transform the microfinance landscape, catapulting Svatantra into…

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School bags and study materials were distributed to the students. Bengaluru, NFAPost: Lulu Mall Bengaluru’s CSR activity with Seva Ashram School organised a vist of students to the mall and experience retail buisess with joy shows the transformative power of compassion and community engagement. By providing an unforgettable day of learning, fun, and empowerment, the mall has not only contributed to the students’ education but has also sown the seeds of inspiration and hope. Lulu Group India Director Fahaz Ashraf said the smiles, laughter, and wide-eyed wonder witnessed at Lulu Mall day were invaluable treasures. “Around 400 students from Seva…

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Net write-off loans by private sector banks stood at Rs 73,803 crore (RBI provisional data) in FY 2022-23, minister Bhagwat Karad said New Delhi, NFAPost: Banks have written off bad loans worth Rs 14.56 lakh crore in the last nine financial years starting 2014-15, Parliament was informed. Out of the total Rs 14,56,226 crore, written off loans of large industries and services stood at Rs 7,40,968 crore. Scheduled Commercial Banks (SCBs) have recovered an aggregate amount of Rs 2,04,668 crore in written-off loans, including corporate loans, since April, 2014 and up to March, 2023, Minister of State for Finance Bhagwat…

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The SoftBank-backed firm saw over 1 billion orders in last 12 months; its order volumes rose by 43% and revenue by 54% Bengaluru, NFAPost: Ecommerce platform Meesho has announced that it achieved profitability in July at the consolidated profit after tax (PAT) level, on the back of an uptick in order volumes and revenue, and cost cuts. “As the first horizontal e-commerce platform in India to achieve profitability, we remain committed to sustainable growth, democratising e-commerce for all, and unlocking the true potential of India’s heartland,” said Vidit Aatrey, chief executive officer and founder of Meesho. The slim profit in…

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The Center of Excellence is formed for Engineering Intelligent Products and Automating Engineering Processes Pune, NFAPost: Cyient, a global Digital, Engineering and Technology solutions company has collaborated with Microsoft to establish the “EnGeneer” Center of Excellence (CoE), using Azure OpenAI Service and Generative AI technologies to drive engineering innovation across industries. The EnGeneer CoE will enhance engineering lifecycle agility by developing platforms and tools that empower engineers with automation and assistance, ultimately boosting productivity and quality through Generative AI. As part of this collaboration, Cyient is proud to announce the integration of new Generative AI capabilities into its existing solutions,…

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-It is now clear that X sees Mark Zuckerberg’s Meta as a competitive threat, Elon Musk’s latest posts are the proof -Musk tweeted, “If you were unfairly treated by your employer due to posting or liking something on this platform, we will fund your legal bill. No limit. Please let us know” San Francisco, NFAPost: It is now clear that X sees Mark Zuckerberg’s Meta as a competitive threat, Elon Musk’s latest posts are the proof. X CEO tweeted, “Am lifting weights throughout the day, preparing for the fight. Don’t have time to work out, so I just bring them…

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A new operational model has been adopted to cover 640,000 villages under Bharatnet within next 2 years New Delhi, NFAPost: The Union Cabinet has approved Rs. 1.3 trillion ($17 billion) worth of investments to drive the next stage of the government’s ambitious Bharatnet project which aims to provide every Indian village with fixed-line broadband connectivity a top official from the Department of Telecommunications (DoT) said. The Cabinet meeting also saw the adoption of a new operational model to drive the next stage of the project, which aims to cover 674,000 villages under 250,000 gram panchayats nationwide within the next two…

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The mega project is estimated to be worth approximately Rs 25,000 crore. PM Modi Lays Foundation Stone For Redevelopment Of 508 Railway Stations New Delhi, NFAPost: Prime Minister Narendra Modi laid the foundation stone for the mega redevelopment project of 508 railway stations across the country under Amrit Bharat Station scheme, via video conferencing. Several Union Ministers and the Chief Ministers or Governors also joined the foundation stones laying ceremony from their respective states, where the respective railway stations are to get a complete makeover. Jammu and Kashmir Lieutenant Governor Manoj Sinha also attended the event in Budgam. The mega…

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This Fixed Wireless Access offering will provide internet to customers in areas where access to fiber is a challenge Service being launched in Mumbai and Delhi, pan-India rollout to be conducted in a phased manner New Delhi, NFAPost: Bharti Airtel, one of India’s leading telecommunications service providers, today, announced the launch of Airtel Xstream AirFiber, its fixed wireless access (FWA) offering, on 5G for consumers in Delhi and Mumbai. The need for Wi-Fi at home has grown exponentially in the past 3-4 years. With fiber to home connecting only 34 million homes in India, a very large number of customers…

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