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SIDBI Partners C2treds & UGRO Capital to Facilitate Loans to MSME Sector
Current Context: Small Industries Development Bank of India (SIDBI) has collaborated with C2treds and UGRO Capital to facilitate loans for the MSME (Micro, Small, and Medium Enterprises) sector.
Details
- C2treds Partnership:
- C2treds is a platform that offers MSMEs liquidity within 24 hours through an online bidding process.
- It operates under the Trade Receivables Discounting System (TReDS) initiative, regulated by the Reserve Bank of India (RBI).
- Through this collaboration, C2treds aims to enhance liquidity for MSMEs at competitive interest rates.
- SIDBI’s participation in the C2treds platform will amplify efforts to support the growth of MSMEs, which are vital for employment in India.
- UGRO Capital Partnership:
- UGRO Capital, a datatech NBFC (Non-Banking Financial Company), has established a strategic co-lending partnership with SIDBI.
- This partnership leverages the RBI’s co-lending framework, designed to boost priority sector lending.
- UGRO Capital has already extended bespoke finance solutions to over 78,000 MSMEs in India.
SEBI Launched India’s 1st Web Portal for Passive Funds at NSE; Unveiled Report on Capital Markets
Current Context: The Securities and Exchange Board of India (SEBI) recently achieved two significant milestones: India’s First Website for Passive Funds at NSE, Report on Indian Capital Markets.
About
- India’s First Website for Passive Funds at NSE:
- SEBI launched India’s first dedicated website for passive funds at the National Stock Exchange (NSE).
- The website, called IndiaPassiveFunds.com, empowers retail investors by providing comprehensive information about the Indian passive funds industry.
- It includes aggregate industry data, fund-wise details, and screeners for selecting funds based on various parameters like underlying index, AUM, tracking error, trading volume, and more.
- Report on Indian Capital Markets:
- SEBI also unveiled a detailed report titled “Indian Capital Markets: Transformative Shifts Achieved Through Technology and Reforms.”
- It analyzes the impact of these changes on investors in the country.
- The growth and transformation of India’s capital markets have been driven by a collective vision to create a resilient, progressive, and technology-driven ecosystem that benefits investors while ensuring safeguards.
Kotak Mahindra Bank and GOQii Launches Smartwatch for Contactless Payments
Current Context: Kotak Mahindra Bank has partnered with GOQii to introduce a new smartwatch that allows users to make contactless payments.
Key Points
- This innovative device, named Kotak - GOQii Smart Vital Plus, combines payment functionality with health monitoring features.
- Contactless Payments: Powered by RuPay On-The-Go, users can make seamless transactions up to INR 5,000 without needing a PIN.
- Health Monitoring: Tracks blood pressure, body temperature, and SpO2 levels.
- User-Friendly Interface: Easy to navigate and access payment options.
- Security: Offers the same level of security as traditional contactless cards and mobile devices.
This digest is not complete. Read the complete digest on the Financial Awareness Course.
