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News on Medial
L&T Finance gets $125 million loan from Asian Development Bank to support farmer
Livemint
·
1y ago
Medial
L&T Finance has secured a $125 million financing agreement with Asian Development Bank (ADB) to facilitate lending in rural and peri-urban areas in India. The funding will particularly benefit women borrowers and will be utilized for farmers, MSMEs, and loans for two-wheeled vehicle purchases. A minimum of 40% of the funds is dedicated to female borrowers. The collaboration aims to bridge the financial gap and promote inclusive economic growth in underserved regions of India.
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Financials, pharma, and select few lead the pack as funds turn cautious
Economic Times
·
24d ago
Medial
In June, despite gains in Nifty 50 and Nifty Smallcap 250, fund managers exercised caution, strategically investing in select financial and pharma stocks. Investments included L&T Finance, Aptus Value Housing Finance, AU Small Finance Bank, RBL Bank, and domestic pharma companies like Laurus Labs and Divi’s Laboratories. Asset management companies also showed interest in stocks like Asian Paints, Britannia, Biocon, and Infosys, indicating a selective optimism in various sectors beyond financials and pharma.
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India’s renewable energy expansion gets $240.5 million boost from ADB | Mint
Livemint
·
1y ago
Medial
The Asian Development Bank (ADB) has approved a loan of $240.5 million to support the expansion of rooftop solar systems in India. The financing will be allocated to the State Bank of India and the National Bank for Agriculture and Rural Development, which will provide loans to developers and end-users across the country. The initiative aligns with India's goal of obtaining 50% of its installed power capacity from non-fossil fuel sources by 2030 and supports the Prime Minister's Surya Ghar program, promoting the adoption of rooftop solar installations nationwide.
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CRED Partners L&T Finance To Offer Unsecured Personal Loans
Inc42
·
11m ago
Medial
CRED, the Indian fintech major, has partnered with L&T Finance to launch a new product called CRED Cash. This product will be disbursed through CRED's NBFC arm, NewTap Finance. The partnership aims to leverage the financial services expertise of L&T Finance and CRED's large customer base. The launch of CRED Cash comes as the Reserve Bank of India has taken measures to regulate the rapid growth of unsecured lending in the country.
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UGRO Capital secures $40M impact debt financing
YourStory
·
9m ago
Medial
India-based UGRO Capital has secured a commitment letter for a $40m loan from the United States International Development Finance Corporation (DFC). The loan will support UGRO Capital's efforts to empower small and medium-sized enterprises (SMEs) across India, with a focus on women-owned businesses. The funding will also benefit new-to-credit borrowers, with a portion supported by the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) Guarantee. This is UGRO Capital's third impact deal in less than a year, following previous funding rounds from the Asian Development Bank and FMO.
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India, ADB Ink $23 Mn Loan Agreement To Spur Fintech Research At GIFT City
Inc42
·
1y ago
Medial
The Asian Development Bank (ADB) has signed a $23 million loan agreement with the Centre to establish an International Fintech Institute (IFI) at Gujarat International Finance Tec-City (GIFT City). The IFI will incubate and support fintech startups, particularly women-led ventures, and collaborate with industry stakeholders and venture capital firms. It will also provide fintech training programmes and conduct research in areas such as climate fintech, regulatory technology, social inclusion, and gender equality in finance. GIFT City has seen significant growth in fund management activities, with 95 local and global funds with commitments of $30 billion.
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Gold-loan fintech firms spot a glimmer in RBI’s draft rules
Economic Times
·
3m ago
Medial
The Reserve Bank of India's draft guidelines to regulate the gold loan sector have attracted interest from fintech companies seeking partnerships with banks and non-banking lenders. The guidelines aim to harmonize the regulatory framework and address concerns in the sector. New players entering the market, like L&T Finance and Poonawala Fincorp, and startups such as Rupeek and Oro Money see opportunities in co-lending. However, stricter rules may challenge traditional lenders, but fintech collaborations could provide solutions.
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ADB Approves $ 800 Million Package for Pakistan
OutlookIndia
·
2m ago
Medial
The Asian Development Bank (ADB) has approved an $800 million package for Pakistan, aimed at enhancing fiscal sustainability and public financial management. The package includes a $300 million policy-based loan and a $500 million program-based guarantee to support the country’s Resource Mobilization Reform Programme. It aims to improve tax policy, administration, and compliance while promoting digitalization and private sector development. This initiative is expected to reduce Pakistan's fiscal deficit and public debt, fostering sustainable growth.
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NBFC co SMFG India gets €91 million loan from Deutsche Bank
YourStory
·
8m ago
Medial
Deutsche Bank has provided a loan of 91 million euros to SMFG India Credit, a non-banking financial company. The three-year loan is aimed at supporting small businesses and women borrowers in underserved semi-urban areas. SMFG India Credit's CFO, Pankaj Malik, stated that the loan aligns with the company's commitment to sustainable growth and financial inclusion. Deutsche Bank's Head of Cash Management and Trade Finance, Rajesh Thakur, emphasized the bank's dedication to promoting sustainable finance in India.
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Grapevine: Fourth Partner Energy gets more suitors; ChrysCap weighs healthcare bet
VCCircle
·
1y ago
Medial
London-based energy fund, Just Climate LLP, and a consortium led by International Finance Corporation (IFC) and Asian Development Bank (ADB) are in talks to acquire a majority stake in Fourth Partner Energy. These discussions involve the potential purchase of TPG Capital's shares in the renewable energy firm. In parallel, ChrysCap is considering a healthcare investment.
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Retail therapy: Inside the business shift at L&T Finance
Livemint
·
1y ago
Medial
Sudipta Roy has been appointed as the CEO of L&T Finance, a subsidiary of Larsen & Toubro, with the task of transforming the company's performance. L&T Finance, although backed by the engineering giant, has struggled to establish itself in the financing sector. The company is planning a five-pillar strategy to raise its brand visibility, enhance customer acquisition, improve credit underwriting, develop a futuristic digital architecture, and build capabilities. Additionally, L&T Finance is leveraging AI and ML technologies through projects like "Cyclops" to assess credit risk and automate decision-making in lending. While it is still early to assess the full impact of these changes, there has been an improvement in the company's numbers, particularly in two-wheeler loans and prime customers.
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