27th May’24 –2nd Jun’24

Market Developments
❖ Vegapay, B2B fintech, secures $ 5.5 mn for team and operations expansion More Details
❖ CirclePe raises close to $1 Mn in pre-seed round More Details
❖ NBFC-backed Digital Lending Platform Propelld Secures Over $25 Million Through Debt Raising More Details
❖ PNB Housing Finance likely to see stake sale worth Rs 500 crore via block deal More Details
❖ KFin Technologies Promoter Divests Stake Worth Rs 712 Crore More Details
❖ IIFL Samasta Finance to raise up to Rs 1,000 crore via secured bonds More Details
❖ Canara Bank to Dilute 14.50% Stake in Canara HSBC Life Insurance via IPO More Details
❖ Hero Fincorp plans for Rs 4,000 cr IPO More Details
❖ CapitaLand India Trust secures S$200 million sustainability-linked loan from International Finance Corporation
More Details
❖ Fintech startup Vegapay raises $5.5 Mn led by Elevation Capital More Details
❖ HDFC Capital Advisors to acquire 8.5% stake in TruBoard More Details
❖ Shinhan Bank Gets CCI Nod To Acquire 11% Stake In HDFC Credila More Details
❖ PHF Leasing expands EV loan portfolio More Details
❖ Ambani’s Reliance fires opening salvo in fintech battle, launches JioFinance app More Details
❖ MSME lender FlexiLoans plans Rs 100 crore loans to Nagpur MSMEs More Details
❖ PhonePe launches secured lending platform with banks, fintech firms More Details
❖ FinTech major Intellect targets $30-35 million business with its new solutions by 2027 More Details
❖ Fintech startup BharatX acquires Zenifi to enter medical lending market More Details
❖ Zomato Eyes Merchant Lending, Negotiates with Multiple NBFCs More Details
❖ Adani Group to foray into payments services; ties up with ICICI Bank More Details
❖ Axis Bank and Mastercard Introduce NFC Soundbox More Details
❖ SMC Global invests Rs 100 Cr in its trading app StoxKart More Details
❖ JMJ Fintech Standalone March 2024 Net Sales at Rs 3.07 crore, up 293.62% Y-o-Y More Details
❖ UGRO Capital Q4 Results 2024: Company's Net Profit Soars 200 pc In FY24 – Details More Details
❖ Indiabulls Housing Finance Full Year 2024 Earnings: ₹25.5b (down 8.8% from FY 2023) More Details
❖ Mufin Green's net profit grows 52% YoY More Details
❖ IIFL Finance delays Q4, FY24 earnings More Details
❖ Fintech unicorn Oxyzo's FY24 revenue crosses Rs 900 cr, PAT at Rs 290 cr More Details
❖ MSME-focused NBFC Clix Capital’s FY24 PAT jumps 125%, AUM grows 31% More Details
❖ Dvara KGFS posts ₹48 cr PAT in FY24 More Details
❖ Arohan Financial Services’ standalone net profit rises 377.15% in Q4 FY 23-24 More Details
❖ Muthoot Finance's March quarter profit up y-o-y by 17% More Details
❖ NBFC Standard Capital announces Q4 FY2024 results: PAT up more than 50% YoY; check revenue, assets More
Details
❖ REC Wins ‘Sustainability Champion’ Award at Outlook Summit 2024 More Details
❖ Policybazaar Parent Allots 48.30 Lakh ESOPs More Details
❖ Policybazaar for Business Sees 40% Premium Growth in First Year Post-Launch More Details
❖ RBI imposes monetary penalty on ICICI Bank, YES Bank for rule violations More Details
❖ RBI puts business restrictions on Edelweiss ARC, ECL Finance More Details
❖ RBI Penalizes SBM Bank (India) With Rs 88.70 Lakh Fine More Details
❖ RBI imposes Rs 36.38 lakh penalty on HSBC for violating Fema regulations More Details

Miscellaneous
❖ 24 Indian startups raised $444 million in funding this week More Details
❖ Online Payment Frauds Jump Over 400 Percent in India, RBI Data Shows More Details
❖ In a revolutionary step, regulator Irdai released a master circular on health insurance, specifying that an insurer has
to decide on cashless authorisation within one hour of request and a 3-hour limit to clear the cashless claim More
Details
 27th May’24 –2nd Jun’24
❖ RBI releases guidlines for SROs of Fintech Sector More Details
❖ Fitch sees big RBI dividend to govt as positive for India’s rating More Details
❖ Govt will buy back sovereign bonds worth Rs 40,000 crore, says RBI More Details
❖ Goldman Sachs ups India 2024 GDP forecast to 6.7%; sees RBI rate cut in Q4 More Details
❖ The housing finance sector will only grow said PNB Housing Finance MD & CEO More Details
❖ Aim to connect lenders, customers for financial needs said PhonePe Lending CEO More Details
❖ Rural users prefer 'personal interactions' to trust fintech services, says PayNearby CEO More Details
❖ GDP growth at 7% in FY25, robust on back of healthy balance sheets of banks, corporates said RBI More Details
❖ FY24 GDP growth of 8.2% is great news for India said Arvind Panagariya More Details
❖ The current state of the labour market in India depicts the presence of low to moderate “underemployment”, a
paper by the statistics ministry said More Details
❖ Gautam Adani likely in talks with Vijay Shekhar Sharma to acquire stake in Paytm's parent co More Details
❖ Bank frauds in India have increased but the amounts swindled have nearly halved More Details
❖ DFS Forms High-Level Committee With SBI To Improve MSME Co-lending More Details
❖ HDFC Bank to stop SMS alerts for UPI transactions up to ₹100 More Details
❖ Explain how ICICI engaged recovery agents despite SC bar said HC to chairman More Details
❖ S&P Global upgrades India’s outlook to ‘positive’, affirms ‘BBB-‘ long term rating More Details
❖ RBI Launches PRAVAAH, Retail Direct Mobile Apps and Fin-tech Repository More Details
❖ Raghuram Rajan said he got threats from business people on his tenure as RBI Governor More Details
❖ Large Indian banks are expected to improve their asset quality in the current fiscal said S&P More Details
❖ Avendus launches Rs 3,000 Cr late-stage fund More Details
❖ GST collection grows 10% y-o-y to Rs 1.73 lakh cr in May More Details
❖ RBI and NPCI working to expand UPI to 20 countries by 2029 shows central bank’s annual report More Details
❖ CPFIR reporting to be extended to Cooperative Banks according to a RBI Report More Details
❖ Financial health of PSBs improved significantly since 2014: FM More Details
❖ Cheap engg, tech talent helping India transition up the services value chain More Details
❖ Tata Capital expects healthy retail loan growth in FY25: Senior executive More Details
❖ From ICICI to HDFC: S&P upgrades outlook on six Indian banks to positive More Details
❖ ‘Money siphoned brazenly’: In one day, 9 bank accounts created, Rs 94.73 crore Karnataka funds transferred More
Details
❖ Flipkart expects over 100 mn visitors during its 'Big End of Season Sale' More Details
❖ RBI relocates 100 tonnes of gold from UK to its Indian vaults: Report More Details
❖ Banks should not hold up crediting exporters money due to fault of ICEGATE More Details
❖ RBI's notification on partly paid AIF units puts industry in a bind More Details
❖ India’s forex reserves down $2 bn to come off all-time record high More Details
❖ RBI's balance sheet increases by 11.08% at USD 845 billion More Details