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Tamil Nadu crosses 10,000 DPIIT-registered startup millstone, credits StartupTN mission

YourStoryYourStory · 8m ago
Tamil Nadu crosses 10,000 DPIIT-registered startup millstone, credits StartupTN mission
Medial

Tamil Nadu has surpassed 10,000 registered startups, marking a significant achievement for the state. StartupTN, an initiative by the government, has played a vital role in nurturing the ecosystem through various schemes, funding opportunities, mentoring, and incubation support. The state's startup ecosystem is flourishing with multiple regional hubs and a metro hub in Chennai that provide a strong infrastructure for aspiring entrepreneurs. This exponential growth can be attributed to the focus on supporting startups and fostering innovation under the leadership of Chief Minister M K Stalin. Tamil Nadu aims to become a prominent startup hub with continued government backing.

RBI diktat to banks, credit card companies set to upend long-term integrations

Economic TimesEconomic Times · 1y ago
RBI diktat to banks, credit card companies set to upend long-term integrations
Medial

The Reserve Bank of India's recent directive to banks and card schemes like Visa and Mastercard to avoid exclusive arrangements could pose a challenge to the long-standing partnerships between these institutions. Banks have relied on integrated partnerships with these card schemes to make their credit card operations profitable and appealing to customers. However, with the option for customers to choose other card schemes like RuPay, these partnerships may face disruption. Banks will need to educate customers on the differences between card schemes, and the regulatory push to make RuPay a significant player may further reduce reliance on international giants like Visa and Mastercard. Implementing this directive will be challenging for banks already grappling with regulatory changes and aiming to maintain a level playing field. In a rapidly growing Indian credit card market, these changes will affect lenders' financial plans and cobranded card partnerships.

'Low financial literacy, informal borrowing' Fempreneurs face age-old challenges

LivemintLivemint · 1y ago
'Low financial literacy, informal borrowing' Fempreneurs face age-old challenges
Medial

Women entrepreneurs continue to face challenges such as lack of awareness about government financial schemes, dependency on family credits, informal borrowing, and lack of digital literacy. According to data from fintech company Tide, about 95% of women are unaware of government initiatives to support their businesses, leading them to seek credit from informal sources. Factors such as low decision-making power, lower risk aversion, and fewer financial facilities also hinder women's access to credit. Experts suggest improving financial literacy, implementing gender-sensitive banking practices, and providing training on financial management and business planning to address these challenges. Additionally, fintech startups are using advanced technology to revolutionize the landscape for female entrepreneurs, streamlining the loan application process and providing innovative financing solutions.

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