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News on Medial
Paytm Inks FLDG Pact To Boost Lending Play For Merchants
Inc42
·
10m ago
Medial
Paytm has entered into a first loss default guarantee (FLDG) agreement with SMFG India Credit and gained approval from its board to provide a default loss guarantee of up to INR 225 Cr on loans disbursed by lending partners to merchants. This represents a shift in role for Paytm from loan distributor to providing a guarantee against defaults.
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Govt inks pact with Paytm for mentorship, funding opportunities for startups
YourStory
·
5m ago
Medial
The government, in partnership with Paytm, has signed an MoU to support Indian startups by providing mentorship, infrastructure, market access, and funding. This collaboration aims to boost fintech and manufacturing startups, offering regulatory and compliance guidance through workshops. The initiative, led by DPIIT and Paytm, focuses on nurturing innovation, helping entrepreneurs scale their ventures, and developing financial technology solutions. Paytm's extensive network will aid startups in testing and refining their products.
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Walmart-backed PhonePe launches merchant lending services
Money Control
·
2y ago
Medial
In April, PhonePe kicked off its digital lending pilots for merchants and the company said that it will launch it officially soon, a move that will be a shot in the arm for the fintech decacorn, putting it in direct competition in the lending space with its largest rival Paytm
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BEL inks pact with ISRO to boost indigenisation of defence and space production
Money Control
·
10m ago
Medial
- Bharat Electronics Limited (BEL) has signed an MoU with the Space Applications Centre (SAC), ISRO to collaborate on manufacturing space-grade Travelling Wave Tube Amplifiers (TWTAs) in India. - The collaboration aims to boost indigenisation of defence and space production in India and save foreign exchange for the country. - The MoU was signed at SAC Ahmedabad and will involve the development and indigenisation of infrastructure for manufacturing TWTAs. - TWTAs are complex multi-disciplinary technologies used in satellite communication, navigation payloads, microwave remote sensing radar payloads, scientific missions, and inter-spacecraft communications links. - BEL has established a state-of-the-art fabrication and manufacturing facility for TWTAs.
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DPIIT inks pact with Apna to boost startup talent
Economic Times
·
7m ago
Medial
The Department for Promotion of Industry and Internal Trade (DPIIT) has partnered with professional networking platform Apna to enhance startup hiring efforts. This agreement offers government-registered startups credits worth Rs 2,000 each on Apna’s platform, facilitating job postings and access to customized talent pools. With substantial registrations on DPIIT's Bhaskar platform, the initiative aims to strengthen hiring processes, supporting an estimated initial value of Rs 140 crore, potentially reaching Rs 300 crore as startups expand.
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DPIIT inks pact with Yes Bank to support startups
Economic Times
·
5m ago
Medial
The Department for Promotion of Industry and Internal Trade (DPIIT) has partnered with Yes Bank to support early-stage startups by providing funding access, mentorship, and infrastructure aid. This collaboration will enhance DPIIT's Startup India initiative using Yes Bank’s financial expertise. Startups will benefit from Yes Bank's tailored solutions and industry network. DPIIT also partnered with Kyndryl Solutions to support startups in manufacturing and IT sectors, focusing on digital transformation and AI-driven innovations.
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DPIIT inks pact with GEAPP to support climate-tech startups
Economic Times
·
3m ago
Medial
The Department for Promotion of Industry and Internal Trade has partnered with Global Energy Alliance for People and Planet to support early-stage climate-tech startups. This collaboration includes launching the Energy Transitions Innovation Challenge (ENTICE), providing up to $500,000 in rewards for impactful solutions. Investment support will come from partners like Spectrum Impact and Avana Capital, facilitating opportunities for clean energy startups to scale technologies aligned with India’s net-zero objectives.
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Paytm’s forex woes: Understanding the role of fintechs in cross-border payments
Economic Times
·
1y ago
Medial
Digital payments giant Paytm is under investigation by the Directorate of Enforcement (ED) for foreign exchange violations by some of its merchants. Paytm responded by stating that it is not authorized by the Reserve Bank of India (RBI) to deal in forex, and therefore cannot be in violation. The article discusses the categories of entities authorized to deal in forex in India, such as banks (AD-I) and non-banks (AD-II). Fintechs play a role as facilitators of cross-border money flow, working with AD-I banks. The RBI has issued guidelines for payment aggregators operating in this space, including requirements for governance, customer redressal, and minimum net worth.
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Dixon Inks Pact To Make Asus Notebooks Under PLI 2.0
Inc42
·
11m ago
Medial
Dixon Technologies' subsidiary, Padget Electronics, has partnered with Asus to manufacture notebooks under the production-linked incentive 2.0 scheme. The production will take place at a new facility in Chennai, with a yearly capacity of 2 million laptops. Asus joins other major brands like HP, Lenovo, and Acer in collaborating with Dixon for local laptop production.
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Paytm may achieve profitability by 2027, upside lies in being acquired by banks or corporate: Bernstein report
Economic Times
·
1y ago
Medial
Equity analyst Bernstein has set a target price of Rs 600 per share for Paytm and projects the company to achieve profitability by 2026-27. The best scenario for Paytm would be an acquisition by a bank or a large non-banking finance company (NBFC), providing a quick boost to its customer base and access to superior products. Alternatively, if Paytm attracts a significant investment from a major corporate house, it could revive faster and gain protection from future regulatory shocks. Going solo would require rapid scale-up of lending products, a share of the merchant discount rate, and cost reductions to drive profitability.
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Fintech start-up Basic home loan raises Rs 87.5 crore in a Series B funding round
Economic Times
·
10m ago
Medial
Indian fintech startup, Basic Home Loan, has raised $10.6 million in a Series B funding round led by Bertelsmann India Investments. The company aims to automate home loans for low- and middle-income households in India. The funds will be used to expand its market presence, build its lending book, and enhance its technology. Basic Home Loan has assisted almost 250,000 families in acquiring homes, generating indirect employment for 15,000 individuals. The company plans to expand its risk-sharing FLDG business with lenders and offer innovative solutions to the housing ecosystem.
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