Mumbai, 1^st September 2025: IDFC FIRST Bank is pleased to announce the facility to pay GST for both its customers as well as non-customers. The integration provides the following features:

1. Open to both customers and non-customers.

2. Customers can pay GST through UPI, Credit Cards, and Debit cards and internet Banking.

3. Customers can also pay through nationwide branch network (via DD/Cheque/Cash). 

4. Easy access to downloadable challans.

This enhances the convenience and accessibility for all taxpayers across the country through a wide range of digital channels.

Mr. Ashish Singh, Head – Retail Liabilities at IDFC FIRST Bank, said “As a universal bank, our goal is to provide complete services to our customers. Customers and Non-customers of IDFC FIRST Bank can now make GST payment through UPI, Credit and Debit Cards. So, tax payments are now seamless, accessible, and inclusive. This enhancement is a part of our broader effort to deliver world-class digital banking solutions and empower all taxpayers with frictionless payment experience.”

IDFC FIRST Bank is among Private Sector Banks authorised for GST collections, reaffirming its commitment to offering universal banking solutions and comprehensive financial services to the wider ecosystem.

Steps to Pay GST through IDFC FIRST Bank: (https://www.idfcfirstbank.com/business-banking/tax-payment)

1. Log in to the GST portal: https://services.gst.gov.in/services/login 

2. Create a Challan and select E-Payment -> Net Banking/ Credit/ Debit Card/ BHIM UPI

3. Choose IDFC FIRST Bank as the payment option and complete payment

4. Download/ print the GST paid challan

For more information, please visit www.idfcfirstbank.com

 About the Bank 

1. Vision: To build a world-class Bank in India, founded with principles of Ethical, Digital, and Social Good Banking. 

2. Scale: IDFC FIRST Bank is one of India’s fast-growing private banks, building its UI, UX, and tech stack like a fintech. As of June 30, 2025, the Bank serves 35 million customers, with a customer business of ₹5,10,032 crores ($59.5b) comprising deposits of ₹2,56,799 crores ($29.9b) and loans & advances of ₹2,53,233 crores ($29.4b). Customer deposits grew 25.5% YoY and loans 21.0% YoY. We reach over 60,000 cities, towns, and villages, operate through 1,016 branches.

3. Scope: We are a universal Bank offering complete range of services, including Retail, MSME, Rural, Startups, Corporate Banking, Cash Management, Credit Cards, Wealth Management, Deposits, Government Banking, Working Capital, Trade Finance, and Treasury solutions. 

4. Ethical Banking:  We are committed to doing right even when customers are not watching. We have simplified descriptions, calculations, and legal jargon to avoid confusing customers.

5. Digital Banking: The Bank's modern technology stack delivers high-quality services across all channels like mobile, branch, internet banking, call centres and relationship managers. Built on cloud-native, API-led, microservices architecture, supported with data, analytics, AI, and fine aesthetics, we strive to deliver fintech-grade experiences on banking platform.

6. Social Good: We work for society. We have financed over 38 million loans including 15 million women entrepreneurs, 16 million loans (laptops, washing machines, refrigerators etc. that enhance the quality of life of middle class), 6.5 million vehicle loans, 1 million sanitation loans, 1 million livelihood loans, and 300,000 SMEs. On deposits, we provide access of premium investment research, which is usually reserved for the wealthy, even to those holding balances as low as ₹5,000. Our ESG scores are high and improving.

7. Customer Friendly Banking: We make banking easy by having a customer first approach. We have waived fees on 36 essential savings account services which are commonly charged in the market, the first and only bank in India to do so. We create “pull” products that customers actively seek out.

8. Governance: We adhere to regulatory guidelines in letter and spirit and actively work with regulators to make things better. We take pride in maintaining highest levels of corporate governance.

9. Shareholders: We are building a well-diversified universal banking portfolio designed to deliver consistent ROE of 16%+.

10. Employees: IDFC FIRST Bank is designed to be a happy place to work, with cutting-edge roles, meaningful growth opportunities, and a culture of meritocracy. Compensation is healthy, efforts are recognized, and employees experience the pride and excitement of creating a world-class Bank in India.

April 09, 2025 - Zurich Kotak General Insurance, a trusted name for insurance solutions, remains committed to simplifying policy management for vehicle owners. Losing a critical document like car insurance can create many roadblocks when filing claims, renewing policies, or presenting proof during official inspections. As per the Motor Vehicle, (Amendment) Bill 2016, it is mandatory for every four-wheeler owner to keep a valid and up-to-date insurance policy document. Being non-compliant with this can result in legal issues that can lead to a penalty of ₹2,000 or more. 

Despite the critical nature of this, many policyholders are unaware of how it can be seamlessly replaced with duplicate ones. Understanding the nuances of document retrieval, Zurich Kotak General Insurance shares the right procedures to obtain a duplicate copy of your car insurance documents. We have outlined the step-by-step guide that ensures the policy remains uninterrupted and you can maintain compliance with regulatory mandates.

Why Your Car Insurance Documents Are Essential

Your car insurance documents serve as official proof of your policy and overall coverage details. This legal document is a binding factor between you and your insurer. As previously highlighted, processing claims can get more challenging with no document in hand, potentially leading to denials. The document covers details around your policy coverage, exclusions, Insured Declared Value (IDV), add-on covers, premium details, and terms of claims settlement. Carrying at least a duplicate copy of your insurance document is crucial to avoid legal repercussions from your end. Zurich Kotak General Insurance provides a streamlined process to receive a duplicate insurance document through online mode.

Obtaining a Duplicate Car Insurance Policy: The Offline Method

Step 1: File a Police Complaint

The first step is to file a First Information Report (FIR) at your nearest police station if you have lost your car insurance documents. This is mainly an official record of the loss, and it is also a necessary legal step in securing a duplicate copy. 

Step 2: Submit an Application to Zurich Kotak General Insurance

Once your FIR is done, you can submit a formal application to Zurich Kotak General Insurance requesting a duplicate copy of the same policy. The application will typically include details such as policy number, vehicle registration number, personal information and a brief explanation of your request. 

Step 3: Provide an Indemnity Bond

As a part of the security process, an indemnity bond must be given. This legal document can duly confirm that you are a rightful policyholder and ready to accept full responsibility for any dispute arising from the issuance of the duplicate car insurance copy. It is usually signed by two witnesses.

Step 4: Pay the Necessary Charges

Depending on the policy terms, a nominal fee may be required to process. You can also reach out to Zurich Kotak General Insurance’s customer service team. Finally, you will be issued a duplicate copy of your policy document. 

Obtaining a Duplicate Car Insurance Document: The Online Method

1. Duplicate Documents from the Insurer Portal

Zurich Kotak General Insurance ensures that policyholders can access their policy documents anytime. Our user-friendly website allows quick retrieval through a seamless process:

• Visit the Zurich Kotak General Insurance website and navigate the "Download Policy Copy" section.

• Enter your details such as your policy number, registered mobile number, or email address.

• Verify your identity via an OTP (One-Time Password) sent to your registered mobile number or email.

• Download your policy document instantly, ensuring uninterrupted access to your insurance details.

2. Contact Customer Care for Assistance

For those who prefer personalized support, Zurich Kotak General Insurance provides a dedicated customer care helpline to facilitate duplicate document requests:

• Call our toll-free number 1800 266 4545 and request a duplicate policy copy.

• Submit a written request via email or postal mail, specifying the policy number and the reason for requesting a duplicate copy.

• File an affidavit (if required), confirming the loss or damage of the original policy.

• Pay a nominal fee (if applicable), based on policy terms and conditions.

• Receive your duplicate policy copy, either via email or physical mail, as per your preference.

3. Additional Recommendations for Policyholders

Zurich Kotak General Insurance encourages policyholders to take proactive measures for uninterrupted policy access:

• Keep a digital copy: Store your car insurance policy on your phone or cloud storage for quick retrieval.

• Check your email inbox: Zurich Kotak General Insurance often sends policy documents via email at the time of issuance.

• File an FIR (if lost): If your original policy document is lost, filing a First Information Report (FIR) can help avoid complications.

• Notify the insurer immediately: Prompt communication helps expedite the retrieval process and ensures continued coverage.

Why Choose Zurich Kotak General Insurance for Car Insurance?

You need to rely on insurers that can offer you comprehensive support even when there’s a documented loss. With Zurich Kotak General Insurance, you can be rest assured knowing that a streamlined and hassle-free replacement process is available.  Beyond providing a car insurance policy for third-party liability and own damages, we also seek to enhance digital accessibility to simplify the policy management process. The real advantage is when:

• You quickly access policy documents & downloads with no waiting time.

• You can avail yourself of round-the-clock assistance to resolve queries.

• There’s no need for physical documentation when the process is paperless.

• Policyholders can opt for various add-ons alongside their existing insurance.

Zurich Kotak General Insurance Company (India) Limited (Formerly known as Kotak Mahindra General Insurance Company Limited)

Zurich Kotak General Insurance Company (India) Limited is a 70:30 joint venture between Zurich Insurance Group and Kotak Mahindra Bank. The Company its new name ‘’Zurich Kotak General Insurance Company (India) Limited’’ in the month of August 2024, following Zurich Insurance Group’s 70% acquisition in Kotak Mahindra General Insurance Company Limited. It is the youngest and one of the fastest growing non-life insurance franchises in India.

Kotak General Insurance was established in 2015 to service the growing non-life insurance segment in India. The company aims to cater to a wide range of customer segments & geographies offering an array of non-life insurance products like Motor, Health, Home etc. As a practice, the company seeks to provide a differentiated value proposition through customized products and services leveraging state of art technology and digital infrastructure.

BENGALURU, February 25th, 2025: Amid growing speculation about potential U.S. immigration reforms, MPOWER Financing, a leading provider of no-cosigner education loans for international students, reassures Indian students and graduates that merit-driven policy changes could create new opportunities for high-achieving talent.

The U.S. has long been the top destination for Indian students seeking world-class education and career opportunities. However, recent discussions on changes to work authorization programs—such as Optional Practical Training (OPT), Curricular Practical Training (CPT), and the H-1B visa—have sparked uncertainty. While some concerns are valid, exaggerated media reports overlook how some of these reforms could actually favor skilled Indian graduates seeking opportunities in the United States.

A look back: Stability amidst rhetoric

During the first Trump administration (2017-2021), international student enrollment in the U.S. continued to grow until a COVID-induced slump. Indian students consistently enjoyed high F-1 visa approval rates. Despite inflammatory rhetoric, the administration even saw the U.S. Department of Justice successfully defend the OPT program against lawsuits filed by anti-immigration groups. This historical context suggests that while political rhetoric may be harsh, the policies on the ground have continued to support highly skilled international students.

What’s changing

1. OPT, CPT, and school transfers:
   The proposed changes to the “duration of status” policy aim to replace the current flexible system with fixed admission periods. This could complicate transfers – particularly to institutions offering “Day 1 CPT,” which many students have used to secure early work authorization. However, bona fide students focused on academic excellence and career advancement rather than exploiting loopholes are unlikely to be adversely affected. These measures might discourage programs that seek to circumvent the spirit of the rules, thereby preserving opportunities for legitimate students.

2. H-1B program reforms:
   Revisions to the H-1B visa system are already on the table. For example, proposals to increase wage requirements could price out employers relying on lower-skilled labor – a change that, while challenging for some companies, would favor highly qualified graduates who can command competitive salaries. Furthermore, a shift from the current lottery system toward a merit-based system that prioritizes advanced degrees and specialized skills would directly benefit top-tier Indian graduates.

That said, there is concern over proposals to narrow the definition of “specialty occupations,” which could reduce flexibility for students wishing to explore roles outside their precise degree specialization. However, given the emphasis on high-skill talent, such modifications may enhance the overall value of a U.S. education for students who meet the high standards of these programs.

Support from within the administration

A key difference between the first and second Trump administrations is the presence of influential voices advocating for a modernized, skill-based immigration system.

• Marco Rubio, Secretary of State, has emphasized that America’s immigration system should welcome highly skilled immigrants who contribute significantly to the economy and society.

• Elon Musk, from the Department of Government Efficiency (DOGE), has stressed the importance of making it easy for talented individuals to immigrate.

• Vivek Ramaswamy, a former DOGE member, has supported replacing the H-1B lottery with a meritocratic system – another change that would benefit Indian graduates from top U.S. institutions.

Even President Trump has floated the idea of automatically granting green cards to graduates of American colleges, an initiative that, while still in the discussion phase, underscores the administration’s interest in retaining high-caliber talent. After all, putting “America First” requires drastically increasing the number of international students the country welcomes.

A balanced outlook for the future

For legitimate, hardworking students from India and around the world, these changes are more likely to level the playing field and elevate the status of highly skilled individuals in the U.S. immigration system. Data from institutions like the Institute of International Education show that, historically, U.S. enrollment has been buoyed by students who add significant value to the academic and professional landscape – an outcome that’s likely to continue if reforms favor merit and high skill.

While no policy shift is without its challenges, the current proposals seem designed to reward excellence. For Indian students dedicated to their academic and professional pursuits, there has arguably never been a better time to pursue an education in the United States.

About MPOWER Financing

Co-headquartered in Washington, D.C. and Bengaluru, India, MPOWER Financing is a mission-driven fintech company and the leading provider of global education loans. Its proprietary algorithm analyzes overseas and domestic credit data as well as future earning potential to serve promising international students. MPOWER works with over 400 top universities across the U.S. and Canada to provide financing to students from over 200 countries. The MPOWER team consists primarily of former international students and provides students with personal financial education, immigration guidance, and career support to prepare them for their professional careers after graduation.

Media Contact 

Madhushri Verma 

madhushri.verma@mpower.financing

BENGALURU, December 17, 2024 : MPOWER Financing, the leading provider of no-cosigner loans and scholarships to high-potential students from India and around the world, has released its fourth annual Social Impact Report. The report highlights how international education transforms lives and communities, with a special focus on the positive contributions of Indian students and the role of education financing in empowering them to succeed.

Drawing on data from nearly 20,000 students across 182 countries, including significant representation from India, the report showcases how MPOWER’s financing model generates far-reaching benefits for students, their home countries (ie. India), and the global community.

Financing international education has long been a challenge for Indian students, with traditional loans often requiring cosigners, collateral, or high interest rates. MPOWER addresses these challenges with its unique lending model based on students’ future earning potential, rather than their parents’ financial standing. This approach has been pivotal, with 92% of MPOWER students reporting that the firm’s loans were essential to their ability to study abroad.

Some key findings from the 2024 report include:

●      India at the forefront: Thousands of Indian students have leveraged MPOWER’s support to access premier universities in the U.S. and Canada

●      15x income growth: MPOWER students who graduate and find employment in the U.S. see an average 15x increase in their pre-graduation household income, underscoring the transformative value of their education.

●      Strengthening families: 75% of surveyed MPOWER students send an average of $645 (approximately ₹50,000) per month back home to support their families after graduation.

●      Empowering women: MPOWER scholarships and loans have helped bridge the gender gap, with 68% of female MPOWER students pursuing STEM fields—nearly double the global average.

“Since our founding a decade ago, we’ve witnessed the phenomenal impact that international education can have on students, their families, and their home countries,” said Manu Smadja, CEO of MPOWER Financing.

MPOWER goes beyond financial support with its free Path2Success program for approved students, which provides exclusive career and immigration guidance to help students thrive during their studies and after graduation.

In 2024, MPOWER saw a stunning fivefold year-over-year rise in applications for students to study artificial intelligence and machine learning. 70% of MPOWER students pursue engineering, computer science or technology fields: all in-demand professions in the global economy.

The report ends with a case study on the Indian diaspora, including how those who have temporarily left India continue to bring back global expertise to drive innovation, create jobs, and transform industries. Examples like the late Ratan Tata, who graduated from Cornell University and Harvard Business School and later ran one of India's largest and most respected conglomerates, and Azim Premji, who studied at Stanford University and later transformed Wipro into a global leader in the software industry, highlight how international exposure fuels local entrepreneurship and economic development. Additionally, diaspora leaders like Microsoft CEO Satya Nadella continue to invest in and advocate for India, demonstrating how talent circulation fosters mutual growth and global influence.

The full report is available for download on MPOWER’s website.

About MPOWER Financing

Co-headquartered in Washington, D.C. and Bengaluru, India, MPOWER Financing is a mission-driven fintech company and the leading provider of global education loans. Its proprietary algorithm analyzes overseas and domestic credit data as well as future earning potential to serve promising international students. MPOWER works with over 400 top universities across the U.S. and Canada to provide financing to students from over 200 countries. The MPOWER team consists primarily of former international students and provides students with personal financial education, immigration guidance, and career support to prepare them for their professional careers after graduation.

MPOWER is a Certified B-Corp and has been named a Great Place To Work, one of the best fintechs to work for and the best tech workplace for diversity. The company is hiring for various positions worldwide.

Media Contact

Madhushri Verma

madhushri.verma@mpower.financing

Anoop Saxena and Hemant Shinde from Star HFL, Smt. Anupriya Patel, Minister of State for Health and Family Welfare of India and Bollywood actor Kunal Kapoor 

Mumbai, October 9, 2024: Star Housing Finance Limited (Star HFL), a leading retail-focused housing finance company specializing in low-ticket loans, has been recognized at the prestigious ET Business Leaders 2024 Awards. The award, in the category of Outstanding Housing Finance Company for the Low-Income Group, was received by Mr. Hemant Shinde and Mr. Anoop Saxena, Chief Operating Officer, on behalf of the company.

The award was presented by Smt. Anupriya Patel, Minister of State for Health and Family Welfare of India, Shri Rajendra Agarwal, Former Member of Parliament, Lok Sabha, and Bollywood actor Kunal Kapoor at a ceremony organized by Optimal Media Solutions - A Times of India Group Company.

The award comes at a pivotal time for Star HFL, as the company has recently crossed ₹500 crore in Assets Under Management (AUM), marking a key milestone in its growth journey. This achievement aligns with Star HFL’s commitment to expanding its presence in the housing finance market, focusing primarily on tier II and tier III towns and semi-urban areas across states including Maharashtra, Madhya Pradesh, Rajasthan, Gujarat, Tamil Nadu, and the NCR.

Mr. Hemant Shinde expressed his heartfelt appreciation upon receiving the ET Business Leaders 2024 Award, stating, "This award is a proud milestone for our organization, affirming our commitment to financial inclusion by providing affordable housing solutions to those who need them the most. It is a testament to the dedication of our team and the trust that our customers place in us every day. I would also like to extend my sincere gratitude to Mr. Prashant Karulkar (Mentor) for his invaluable guidance and support throughout our scale-up journey.”

Mr. Anoop Saxena, Chief Operating Officer of Star HFL, added: “Our focus has always been on simplifying the home-buying process for low-income families, ensuring access to housing finance in underserved areas. This award motivates us to continue driving sustainable growth while making a meaningful difference in the lives of first-time home buyers.”

With a strong network of over 30+ operational branches and a team of more than 300+ employees, Star HFL has successfully served over 5,000 families to date. The company’s mission is to deliver retail home loans under RBI's Priority Sector Lending norms, often in alignment with the Pradhan Mantri Awas Yojana (PMAY) guidelines. As of June 2024, Star HFL’s AUM stands at ₹471.41 crore, showcasing consistent growth and impact.

The recognition at the ET Business Leaders 2024 Awards further highlights Star HFL’s role as a key enabler in India’s affordable housing sector, contributing to the nation’s vision of "Housing for All." The celebration of this award and milestone took place across Star HFL’s offices, energizing the team as they continue their journey toward greater achievements.

About Star Housing Finance Limited (Star HFL)

Star Housing Finance Limited (Star HFL) is a retail housing finance company. The Company has been operational in the low-cost housing space. Star HFL provides long term housing finance assistance to EWS/LIG families towards purchase/construction of low-cost housing units (affordable housing) in its operational geographies. Star HFL is a professionally managed Company with a presence across states of Maharashtra, Madhya Pradesh, Gujarat, Rajasthan, NCR and Tamil Nadu. Star HFL is registered as a Primary Lending Institution (PLI) under the Pradhan Mantri Awas Yojana (PMAY). Star HFL has its Registered & Corporate Office in Mumbai, Maharashtra.

Please visit https://www.starhfl.com/ for more information  

For further media queries, please contact:

Sonia Kulkarni, Hunk Golden and Media

Mobile: 9820184099 | Email: sonia.kulkarni@hunkgolden.in

New Delhi, September 17, 2024 : Piramal Capital & Housing Finance Ltd. (Piramal Finance), a wholly-owned subsidiary of Piramal Enterprises Ltd., has partnered with Digital India’s Common Service Centers (CSCs) to meet the lending needs of Bharat by improving access to formal credit for underserved individuals and MSMEs.

Through this collaboration, over Rs. 100 Cr. has been successfully disbursed in August 2024 to boost credit availability in semi-urban areas, providing essential financial products such as home and business loans. By leveraging CSC's extensive network of over 6 lakh centers, this initiative aims to support budget customers in tier 2 and tier 3 cities, effectively addressing the financial needs of underserved regions and advancing financial inclusion.

Jairam Sridharan, Managing Director, Piramal Capital & Housing Finance Ltd., said, “This milestone reflects our commitment to serving the budget customers of Bharat by making credit more accessible. Our partnership with CSC allows us to create meaningful financial opportunities in areas that have been overlooked. We are excited to expand this initiative further, helping more families achieve their financial goals and supporting small businesses in their growth."

Mr. Sanjay Rakesh, MD & CEO, CSC SPV, said, “Common Service Centers (CSCs) are digital service hubs managed by local entrepreneurs under the Government of India's Digital India initiative. They play a vital role in providing financial products and services to rural citizens. Our partnership with Piramal Finance aligns with our vision of financial inclusion, enhancing service reach in underserved areas of Bharat. Together, we aim to meet the financing needs of underserved MSMEs and promote a financially inclusive society across the country.”

Piramal Finance will expand its loan offerings through CSCs, targeting underserved regions to better serve individuals and MSMEs in tier 2 and tier 3 cities. By combining technology with local outreach, this partnership supports first-time borrowers and underserved communities, contributing to financial inclusion goals and fostering sustainable growth in lending. Customers can easily apply for loans at their nearest CSC with basic documentation, ensuring greater accessibility to financial services.

About Piramal Capital & Housing Finance Limited:

Piramal Capital & Housing Finance Limited (referred to as Piramal Finance), a wholly owned subsidiary of Piramal Enterprises Limited (flagship company of the Piramal Group), is a leading Non-Banking Financial Company - Housing Finance Company (NBFC-HFC) engaged in retail and wholesale lending.

In retail lending, Piramal Finance is one of the leading players that address the diverse financing needs of the under-served and unserved people of the ‘Bharat’ market. It has over 1.3 million active customers and a presence in 26 states with a network of 501 conventional branches and 210 microfinance branches, as on 30^th June 2024. It offers multiple products, including home loans, loans against property, used car loans, and small business loans to Indian budget-conscious customers at the periphery of metros and in Tier I, II, and III cities. In wholesale lending, it caters to both real estate as well as non-real estate sectors and offers multiple products including construction finance, structured debt, and senior secured debt.

For more information visit: piramalfinance.com

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Sending a child off to study abroad is a proud and exciting milestone, but it can also be a time of great anxiety for parents. The prospect of a child being thousands of miles away, navigating a new culture and potential emergencies, can be daunting. Royal Sundaram understands these concerns and offers comprehensive Student Travel Insurance plans designed to give parents the peace of mind they need, knowing fully well that their child is protected and supported throughout their academic journey.

Recent analysis made, highlights the ever-rising number of students from India pursuing education abroad. While this surge of students chasing their dreams internationally is truly positive, the concerns of the parents of these students are equally valid.  While the students often worry about the financial costs incurred, the Parents are most worried about their children’s personal safety and security while studying abroad. 

“The transition to a new country and academic system can be incredibly overwhelming for students travelling abroad,” said Mr. TM Shyamsunder, Chief Operating Officer of Royal Sundaram.  Keeping this concern foremost in mind, “Royal Sundaram's Student Travel Insurance product has been designed to provide the support and protection that students need to thrive both academically and personally during their time abroad.”

With the ever-changing times and needs, the Student Travel Insurance by Royal Sundaram offers comprehensive protection to ensure students are covered in case of any unexpected events. The coverage goes beyond the usual travel insurance offerings for medical expenses, loss of passport, or trip delay.

The student-specific coverage within the Student Travel Insurance also includes:  

- Study Interruption: Royal Sundaram reimburses tuition fees paid for the period of non-attendance in case the student is hospitalized or faces any other covered event.  

- Sponsor Protection: Coverage is provided for tuition fees for the remaining period of study in case of any covered injury to the student’s sponsor.  

- Other Medical Emergencies: The insurance covers a wide range of medical challenges, including mental and nervous disorders, physiotherapy, and necessary medical treatments like ambulance charges and cancer screenings.  

- Loss of Laptop: Understanding how integral a student’s laptop is to their educational journey, Royal Sundaram’s policy includes indemnification for stolen laptops, helping to alleviate the financial burden of replacement.  

As the September university intake approaches, securing comprehensive student travel insurance has never been more crucial. By prioritizing the unique needs of international students, Royal Sundaram is helping to ensure a safe, successful, and rewarding educational experience for students and their families. Royal Sundaram’s student travel insurance provides the required peace of mind and financial protection helping the students to manage the risks associated with studying abroad.

Sensex, the main index of the Indian equity market, closed at its highest in over two weeks on the last trading day of the week. The market gained momentum on buying in IT stocks and Reliance Industries and a rise in global equities. The Sensex rose 1,412.33 points or 1.78 percent intraday to 80,518.21. The market capitalisation of BSE-listed companies increased by Rs 717 crore to Rs 44,444,444 during Friday's trading session. All stocks except Sun Pharma ended positive on the Sensex. Among the Sensex companies were Tech Mahindra, Mahindra & Mahindra, Tata Motors, UltraTech Cement, Tata Consultancy Services, HCL Technologies, ICICI Bank and Tata Steel were the top gainers. Only Sun Pharma stock ended in the red. All industry indices ended in positive territory.

The BSE Midcap index rose 1.8% and the Smallcap index rose 1.7%. Asian markets in Seoul, Tokyo, Shanghai and Hong Kong posted strong gains. European markets were mostly in positive territory. US markets closed with a strong gain early on Thursday.

Falling US inflation changes market sentiment

Vinod Nair, head of research at Geojit Financial Services said. Moreover, strong US retail sales and fall in weekly jobless claims helped ease fears of a US recession. Moreover, lower US consumer price inflation also improved market sentiment. Against this backdrop, buying was seen in Indian IT stocks."

Foreign institutional investors (FIIs) sold shares worth Rs 2,595.27 crore earlier on Wednesday, while domestic institutional investors (DIIs) sold shares worth Rs 2,236.21 crore.

Brent crude, the global oil benchmark, fell 1.22 percent to $80.05 a barrel. Indian stock markets were closed on Thursday for Independence Day. On Wednesday, the BSE benchmark ended 149.85 points, or 0.19 percent, higher at 79,105.88. The NSE Nifty rose 4.75 points, or 0.02 percent, to close at 24,143.75.

Rupee rose slightly against the dollar

The rupee closed at 83.94 against the dollar on Friday after closing at 83.9475 in the previous session. The Indian rupee ended little changed on Friday after trading in a limited range.

Most Asian currencies recovered from initial declines. Light dollar selling by foreign banks during the period helped support the rupee's rise above its record lows.

Domnic Romell, President, CREDAI-MCHI Applauding the government for presenting a Viksit Bharat budget focused on simplification and digitized infrastructure

India :  Finance Minister Nirmala Sitharaman unveiled the first budget of the Modi 3.0 government today. Here are the reactions from industry experts across the real estate, education and manufacturing sectors.

Mr. Domnic Romell, President, CREDAI-MCHI, the apex body of the real estate industry in the Mumbai Metropolitan Region (MMR):

“The Union Budget 2024-25 has brought forth a comprehensive and ambitious vision for the real estate sector, particularly benefiting urban centers like Mumbai. CREDAI-MCHI finds several aspects of the budget to be highly encouraging and potentially transformative. The Union Budget 2024-25 presents a robust framework for the growth and development of the real estate sector. The emphasis on affordable housing, urban infrastructure, industrial development, and digitalization are particularly beneficial for a dynamic and densely populated city like Mumbai. CREDAI-MCHI is optimistic about the opportunities these initiatives will bring to the real estate sector and to the economy.

Boost to Affordable Housing

The announcement of constructing 3 crore houses under the Pradhan Mantri Awaas Yojana (PMAY) in both rural and urban areas is a significant step towards addressing India’s housing shortage. Specifically, the allocation of ₹10 lakh crore to meet the urban housing needs of 1 crore individuals under PMAY will provide a much-needed impetus to the affordable housing segment in Mumbai. This massive investment will likely stimulate demand, making homeownership a reality for many and driving growth in the sector.

Urban Development and Infrastructure

The budget's focus on Transit-Oriented Development (TOD) for 14 large cities, including Mumbai, is a game-changer. TOD plans will not only improve connectivity and reduce congestion but also enhance the livability and attractiveness of urban areas. By integrating residential and commercial spaces with public transport networks, Mumbai can look forward to more sustainable and efficient urban development.

Industrial Parks and Employment Generation

The development of industrial parks with complete infrastructure in partnership with state and private players across 100 cities, including the 12 parks under the National Industrial Corridor Development Program, is a strategic move. This initiative will spur industrial growth, create employment opportunities, and boost economic activity. For Mumbai, known as a financial and commercial hub, these developments will enhance its industrial and logistical capabilities.

Rental Housing and Worker Accommodation

The facilitation of rental housing with dormitory-type accommodation for industrial workers through the Viability Gap Funding (VGF) model is a commendable initiative. This addresses a critical need for affordable, decent housing for the workforce, which is essential for sustaining Mumbai's industrial and manufacturing sectors.

Stamp Duty and Property Purchases

Encouraging states to moderate high stamp duties and consider lowering duties for property purchases by women is a progressive step. In a city like Mumbai, where real estate prices are among the highest in the country, reducing stamp duty can make property transactions more affordable and stimulate market activity. Additionally, promoting gender equity through lower duties for women purchasers is a socially responsible move. CREDAI-MCHI was advocating for the same since a very long time and we are glad that our prayers have been addressed.

Digitalisation of Land Records

The digitalisation of land records in urban areas with GIS mapping and an IT-based system will greatly enhance transparency and efficiency. For developers in Mumbai, this means smoother and more secure transactions, reducing the risks associated with property disputes and unclear titles. It will also facilitate better urban planning and management by providing accurate and accessible land data.

Capital Gains Tax Adjustments

The increase in the long-term capital gains tax rate to 12.5% from 10%, along with a new exemption limit of ₹1.25 lakh per year, and the rise in the short-term gains tax rate to 20% from 15%, will have a mixed impact. Real estate which had a 20% LTCGT so far will benefit. CREDAI-MCHI looks forward to collaborating with the government and other stakeholders to implement these plans effectively and drive the real estate sector towards a prosperous future.”

Mr. Rohit Gera, Managing Director, Gera Developments:

“The move to align long term capital gain tax for real estate with other financial assets is a positive move and will make investment in real estate more attractive.  Eliminating indexation will hurt people who have long term investments in real estate."

Mr. Hemant Sapra, President, Global Sales & Marketing, KARAM Group: 

“We appreciate the government's comprehensive focus on MSMEs and the manufacturing sector in this year's budget. The Credit Guarantee Scheme for MSMEs in the manufacturing sector is a significant step towards empowering small businesses with essential financial support without collateral. The new assessment model for MSME credit and mechanisms for credit support during stress periods are commendable initiatives that will help businesses maintain operations and avoid becoming NPAs.

Additionally, reducing the turnover threshold for mandatory onboarding on the TReDS platform from Rs 500 crore to Rs 250 crore will unlock vital working capital for MSMEs, ensuring smoother cash flows. Enhancing the Mudra loan limit to Rs 20 lakh for those who have previously availed and successfully repaid loans under the Tarun category will provide additional support for business expansion. Expanding SIDBI coverage to 168 clusters and opening 24 new branches in MSME clusters within three years are positive moves to enhance direct credit access.

Moreover, the budget's focus on substantial hiring of first-time employees in the manufacturing sector is particularly encouraging. Corporate employers and non-corporate entities with a three-year EPFO contribution track record will be eligible, provided they hire at least 50 previously non-EPFO enrolled workers or 25% of the baseline, whichever is lower. This initiative will significantly boost employment and support economic growth. Overall, these measures are poised to strengthen the MSME sector, boost employment, and ensure sustainable growth.”

Mr. Nitin Gupta, Founder and Managing Director, Maestro Realtek:

“The Union Budget 2024-25 has charted a progressive course for the real estate sector, promising substantial benefits for urban regions. The budget's comprehensive framework targets critical areas such as affordable housing, urban infrastructure, and digital transformation, setting the stage for significant advancements in the real estate market.

A notable highlight is the allocation of ₹10 lakh crore under the Pradhan Mantri Awaas Yojana (PMAY) for urban housing, poised to address the housing shortage and stimulate the affordable housing segment. The emphasis on Transit-Oriented Development (TOD) for major cities will enhance connectivity, reduce congestion, and promote sustainable urban growth.

The establishment of industrial parks through public-private partnerships is another strategic initiative, expected to bolster industrial development and generate employment. The provision of rental housing for industrial workers via the Viability Gap Funding (VGF) model addresses a crucial need for affordable accommodation, supporting the workforce essential to the economic ecosystem.”

Mr. Gautam Rajgarhia, Pro Vice Chairman, DPS Varanasi, Nashik, Lava Nagpur, and Hinjawadi:

“The government's allocation of Rs 1.48 lakh crore for education, employment, and skilling is a transformative move that will significantly impact the sector. This investment, aimed at training 20 lakh youth and upgrading 1,000 institutes, is especially beneficial for those pursuing vocational routes. It equips individuals with practical skills, fostering excellence in their fields and integrating more youth into the formal economy. The establishment of manufacturing bases in or near districts reduces the need for urban migration, promoting hyper-local job creation and bolstering the manufacturing sector. These initiatives are pivotal in driving India towards becoming a $10 trillion economy within the next 7-10 years.

Furthermore, the model skill loans scheme, which provides aid of up to Rs 7.5 lakhs, is set to benefit over 25,000 students. Current education loan policies already offer loans up to Rs. 7.5 lakhs without collateral and Rs. 4 lakhs without a co-applicant, aligning institute fees with these amounts. However, addressing employability concerns remains crucial. Additional measures, such as Rs. 10 lakh loans for higher education, e-vouchers for 1 lakh students, and internships with a Rs. 5,000 monthly allowance from top companies, provide comprehensive support. This holistic approach empowers youth, supports startups, and fosters sustainable growth, ensuring that all segments of society benefit from India's evolving economic landscape."

MUMBAI, July 16, 2024 : IIFL Finance Ltd today announced that it has received three awards at the Bharat NBFC & Fintech Summit and Awards 2024 in the areas of technological innovation, commitment to customer experience, and effective brand building.

IIFL Finance received 'Best Technology Based NBFC' award for its pioneering technology platforms, which cater to over 85 lakh customers, providing inclusive financial solutions to the unbanked and underbanked segments. Additionally, IIFL Finance was acknowledged as the 'Best NBFC in Customer Experience' for its extensive network of 4,800 branches and seamless digital channels, delivering exceptional service to customers nationwide. The company also obtained the 'Best Brand Building Campaign - NBFC' award for its impactful multilingual customer testimonial campaign, highlighting the success stories of small entrepreneurs from diverse corners of India.

These accolades reinforce IIFL Finance's leadership and commitment to excellence in the financial services sector, further solidifying its role as a trusted partner in empowering millions with innovative financial solutions.

The Bharat NBFC & Fintech Summit and Awards 2024 serves as a vital platform for industry leaders to engage in discussions on emerging trends, regulatory developments, technological innovations, and growth opportunities within the NBFC and Fintech industries. At the summit, which featured insightful presentations, panel discussions, and keynote speeches by renowned experts, senior executives from IIFL Finance also participated. These accolades underscore the company's commitment to technological advancement, customer-centric operations, and effective brand positioning strategies.

Commenting on the awards, Mr. Abhiram Bhattacharjee, Chief Operating Officer, IIFL Finance said, “These awards recognize our customer focus, technology prowess and brand strength. We will continue to provide the best experience to millions of customers in a cost-effective and transparent manner to fulfil their goals.” 

About IIFL Finance Ltd

IIFL Finance Ltd is a leading retail-focused diversified NBFC in India, offering a wide range of financial products and services through its subsidiaries, including home loans, gold loans, business loans, microfinance, capital market finance, and developer & construction finance. With an extensive network of branches and digital channels, IIFL Finance caters to millions of customers across the country.

About Bharat NBFC & Fintech Summit and Awards 2024

The Bharat NBFC & Fintech Summit is a conference that brings together key stakeholders in the non-banking financial company (NBFC) and financial technology (Fintech) sectors in India. The summit aims to facilitate discussions on the latest trends, challenges, and opportunities in the NBFC and Fintech industries, as well as provide a platform for networking and collaboration among industry players. The Bharat NBFC & Fintech Summit serves as a valuable forum for industry professionals to exchange ideas, insights, and best practices, with the goal of driving the continued growth and development of the NBFC and Fintech sectors in India.

Media Contact: Sourav Mishra | Head of Corporate Communications | IIFL | sourav.mishra@iifl.com 

IIFL Finance Ltd., a leading non-banking financial company, today announced significant enhancements to its Board of Directors and senior management team.

Customers and non-customers alike can acquire the card at Bank of Baroda branches, with immediate activation for real-time use. The card supports both online and offline transactions at NCMC-specific terminals. The maximum online wallet balance allowed is Rs 1,00,000/- (Rs One Lakh only), and the maximum offline wallet balance allowed is Rs 2,000/- (Rs Two Thousand only) at any given time.

Shri Lal Singh, Executive Director at Bank of Baroda, emphasized, "The Bank of Baroda NCMC RuPay Prepaid card adds a new dimension to cashless, on-the-go transactions and has the potential to transform the public transport commuting experience for users. With multiple use cases, the card offers enormous convenience, flexibility, and security to cardholders."

Cardholders can conveniently load or reload money into the online wallet through a dedicated portal provided by the Bank. For the offline wallet, reloading can be done at designated NCMC terminal operators at transit locations.

The card is widely accepted at all RuPay ecommerce and POS terminals, as well as ATM machines. Customers will receive transaction notifications through SMS on their registered mobile numbers.

About Bank of Baroda

Established on July 20, 1908, by Sir Maharaja Sayajirao Gaekwad III, Bank of Baroda stands as one of India's leading commercial banks. With the Government of India holding a significant 63.97% stake, the bank serves a global customer base of approximately 165 million through over 70,000 touchpoints across 17 countries in five continents. The bank's vision aligns with the aspirations of its diverse clientele, aiming to instill trust and security in all their interactions with the bank through various digital banking platforms and a comprehensive range of banking products and services.

Also Read: VisaBud: Streamlining the Visa Application Journey

Why Choose HDFC Life Click 2 Achieve?

• Guaranteed Immediate Income: Start receiving guaranteed income as early as the next policy month.
• Customization: Choose your preferred benefits, including early income, long-term income, lump sum, and period lump sum (money back).
• Flexible Protection: Select desired levels of protection with flexible sum assured and rider benefits.

Unique Features of HDFC Life Click 2 Achieve:

• Design Your Cashflows: Create customized cashflows to achieve your dreams with the added security of guaranteed returns.
• Combat Inflation: Reduce the impact of inflation on your income with the increasing income option (1% to 10% simple interest per annum).
• Grow Your Survival Benefits: Grow your survival benefits at a rate of Savings Bank account + 1.5%.
• Choose Your Return of Premium: Select the amount and timing of your Return of Premium (0/50/75/100/125/200%) from various payment years (1st, 5th, 10th, etc.).

Commenting on the launch, Aneesh Khanna, Head of Products & Segments at HDFC Life, said: "Every dream starts with a secure step. HDFC Life Click 2 Achieve helps you take that first step towards achieving your dreams with its guaranteed returns and various customization options. It's a flexible plan that allows you to design your cashflows to meet your unique goals and aspirations."

With Click 2 Achieve, you can achieve your financial goals with guaranteed benefits and the peace of mind knowing your loved ones are protected.

Disclaimers:

• ^1 to 10% simple interest per annum, depending upon the increasing income percentage chosen. Applicable for income and early income option.
• *Choose from 0/50/75/100/125/200 percentage and timing of 1st, 5th, 10th, 15th, 20th, 25th, 35th and last payment year.
• #Provided all the due premiums have been paid and the policy is in force.

Unipe's software platform integrates seamlessly into the workforce management and business workflows of employers. This allows for efficient salary processing, streamlined people operations (digital onboarding, automated compliance, remittance), and solutions to critical challenges like delayed salary payouts and early pay requests.

Empowering the Indian workforce: Unipe's tailored financial services app combats credit deprivation for over 200 million formally employed individuals struggling with irregular payouts and a constant need for cash. This financial inclusion is crucial for low-income individuals seeking access to credit and financial stability.

Unipe's impact is undeniable: Reaching over 250 enterprises and penetrating underserved industrial clusters across 20 cities in 3 states, Unipe is poised for significant growth. With a strategic vision, the platform aims to disburse approximately $250 million in credit to empower Indian enterprises and workers nationwide within the next 3 years.

Setting new standards: Unipe's rapid 15-minute turnaround time and unique 30-day credit cycle for employers outshine existing credit options, demonstrating a user-centric approach that emphasizes efficiency and convenience.

Fueled by a distinguished group of investors and backed by a strong team, Unipe is on a path to secure its place in the financial landscape. With a spotless Zero NPA track record and an impressive $15 million annual disbursement run rate, the future is bright for this groundbreaking platform.

Unipe's ambitions extend beyond payroll: Embedding the platform in the business workflow for workforce management, compliance & taxes, and expanding market reach are key goals. Ultimately, Unipe aims to become the leading consumer financial app for the Indian workforce.

CEO Anupam Acharya emphasizes the importance of Unipe's mission: "We believe Indian enterprises need custom-built short-term lending products to suit their credit needs. Unipe is delighted to support them by first addressing their payroll needs. We empower employees by ensuring timely salary payments and providing instant cash advances at their fingertips. Our platform has demonstrably improved business productivity by over 20% and reduced attrition by over 40% within the first three months."

Rinku Lamba, Director of Franknights Services Private Limited, is a testament to Unipe's transformative power: "Payroll financing from Unipe has allowed us to access immediate funds to cover payroll expenses, ensuring that employees are paid on time. This has helped my business avoid cash flow gaps and maintain a positive working relationship with our employees."

With countless lives transformed, Unipe is clearly on the right path to revolutionize the financial landscape of India and empower its workforce.

Also Read: Finhaat Partners with Nidhi Companies to Empower Rural Maharashtra

Finhaat's mission is to provide the emerging middle-class and lower-income segments with easy access to financial products, promoting financial inclusion and empowering communities. Through its innovative assisted digital model, Finhaat connects product partners with distribution channels like Nidhi Companies to reach the target population effectively.

Nidhi Companies, with their long-standing presence and established trust in Maharashtra, are ideal partners for Finhaat's expansion plans. Traditionally focused on savings and lending, Nidhi Companies have not previously offered insurance products. This partnership presents a unique opportunity for both parties:

• Nidhi Companies can:
  • Offer relevant and affordable insurance products to their members.
  • Enhance their service offerings and attract new members.
  • Leverage Finhaat's digital platform for efficient product delivery and claims management.

• Finhaat can:
  • Gain access to a vast network of Nidhi members across Maharashtra.
  • Offer curated insurance products tailored to the specific needs of the rural population.
  • Utilize the existing trust and understanding of Nidhi Companies to promote financial literacy.

Vinod Singh, Co-Founder & CEO of Finhaat, believes this partnership will significantly impact the underserved communities of Maharashtra. He highlights the lack of suitable financial products and the need for trusted guidance in these segments. Finhaat seeks to address these challenges by:

• Providing fully digital claims platforms for curated products.

• Offering comprehensive support through staff and agent training.

• Facilitating onboarding and post-sales processes, including claims settlement.

• Extending local-level marketing support to generate awareness.

The partnership has already seen success in regions like Nashik, Aurangabad, and Konkan. Finhaat plans to leverage this momentum and expand its reach across the state, empowering more communities with access to essential financial products.

This collaboration between Finhaat and Nidhi Companies represents a positive step towards financial inclusion in rural India. By combining their expertise and resources, they can create a sustainable and impactful model for empowering communities and improving their financial well-being.

Also Read: Harnessing the Power of AI: Transforming Loss-Making Businesses into Profitable Ventures

Here are the top four benefits that make Bajaj Finance Fixed Deposits a valuable addition to your investment portfolio.

1. Competitive Interest Rates:

   Bajaj Finance Fixed Deposits offer industry-leading interest rates of up to 8.60% p.a., ensuring that your money works hard for you. Whether you are a conservative investor seeking stability or someone aiming for substantial returns, Bajaj Finance provides interest rates that outpace inflation, preserving the purchasing power of your capital.

2. Credibility and Safety:

   Trust is the cornerstone of any investment, and Bajaj Finance excels in this aspect. With the highest credit ratings of CRISIL AAA/STABLE and [ICRA]AAA/STABLE, Bajaj Finance assures investors of a secure environment for their funds. The company's robust financial position and commitment to meeting financial obligations instill confidence, making Bajaj Finance Fixed Deposits a reliable choice.

3. Flexible Interest Payout Options:

   Understanding the diverse needs of investors, Bajaj Finance offers flexible interest payout options. Whether you prefer periodic interest payouts (monthly, quarterly, half-yearly, and yearly) to supplement your income or wish to accumulate interest and receive a lump sum at maturity, Bajaj Finance ensures that you have the freedom to choose an option that aligns with your financial goals and preferences.

4. Hassle-Free Online Process:

   Investing in Bajaj Finance Fixed Deposits is a seamless experience with the user-friendly online platform. Say goodbye to tedious paperwork – the online process allows you to complete the entire investment journey from the comfort of your home. This modern and hassle-free approach caters to the preferences of today's tech-savvy investors.

How to Invest in a Fixed Deposit on the Bajaj Finserv Platform:

• Navigate to the Bajaj Finance platform, select 'Fixed Deposit' under the 'Investments' tab, and initiate your online application by clicking on 'Open FD.'
• Input your 10-digit mobile number and validate the OTP sent to your phone.
• Specify the investment amount, select the tenure and payout frequency, and provide details such as PAN card number and date of birth.
• Fulfill your KYC requirements by utilizing your Aadhaar information.
• Thoroughly review and accept the terms and conditions before entering your bank details and proceeding with the payment.
• Finalize your investment by using Net Banking/UPI or opting for NEFT/RTGS.

Upon successful booking of your fixed deposit, you will receive the Fixed Deposit Acknowledgement (FDA) via your registered email address and as a link sent to your mobile number.

Bonus: Bajaj Finance FD Calculator - Your Financial Companion

To enhance your investment experience, Bajaj Finance provides a user-friendly Fixed Deposit Calculator. This tool empowers you to make informed decisions by calculating your potential earnings based on different parameters. Experiment with principal amounts, tenures, and interest rates to tailor your investment strategy and maximize returns.

In conclusion, Bajaj Finance Fixed Deposits stand as a testament to the commitment of providing investors with a secure, lucrative, and hassle-free investment avenue. As you explore opportunities to diversify your portfolio, consider the top-notch benefits offered by Bajaj Finance Fixed Deposits – a reliable choice for the discerning investor.

Visit the Bajaj Finance platform and leverage the FD Calculator to embark on a journey of financial growth and stability.