Lendingkart Finance Limited, has announced that it has raised $10 million (INR 67 crores) debt fund from Kotak Mahindra Bank, Aditya Birla Financial Services and other financial institutions. As the company expands its reach to over 700 cities across the country, these funds will come in handy to…
Tag: Kotak Mahindra Bank
GST Impact: Gold importers, exporters to face many operational issues
The financial cost of importing gold and diamond is set to increase on account of Integrated Goods and Service Tax (IGST), as importers’ capital is likely to be blocked until refund comes. Even as exporters propose to raise bank guarantees to avoid refund complexities, domestic bullion trad…
Note ban woes over, SME credit growth picks up
Small businesses which were hit the hardest during demonestisation are bouncing back smartly, at least if their demand for credit is anything to go by. Bankers say that unsecured business loans portfolio, which is a lifeline for these small business entities, is showing a 15-18% growth over the p…
Banks & fintech start-ups see more value in cooperation than in rivalry
In 2011, ICICI Bank was confronted with a unique problem. Most of the frontend staff of India’s largest private sector bank by consolidated assets were reasonably fresh, and had to be quickly trained to interact online with customers. A lot of time was wasted toggling between multiple screens to …
B2B online marketplace Udaan.com raises $10 mn from Lightspeed
Udaan.com, a business-to-business online marketplace, on November 22 said it has raised $10 million in series A funding from venture capital firm Lightspeed Venture Partners India and Lightspeed US. Udaan was launched earlier this year by Sujeet Kumar, Vaibhav Gupta and Amod Malviya, former senio…
Canara Bank, Kotak Bank cut lending rates by up to 0.1%
State-owned Canara Bank, Indian Bank and private sector Kotak Mahindra Bank cut lending rates by up to 0.1 per cent, following the 0.25 per cent repo rate cut by the RBI. Canara Bank has effected downward revision in the base rate by 0.05 per cent to 9.60 per cent from 9.65 per cent, it said in a…
Alibaba ramps up B2B commerce play in India to aid SMEs
Amid talk of Alibaba’s foray into the consumer-facing e-commerce space in India, the Jack Ma-led Chinese internet behemoth has gone ahead and struck a string of partnerships to prop up its existing business-to-business marketplace venture here in India. Alibaba is partnering with DHL and De…
Kotak Mahindra Bank starts Innovation Lab, open to investing in startups
Private sector lender Kotak Mahindra Bank has started an ‘Innovation Lab’ in Bengaluru to tap into the best technology that impacts its operations, and is open to investing in startups, a senior company official has said. “We started an ‘Innovation Lab’ recently whic…
Entrepreneurs Academy to catch them young
Here’s a chance for Indian children as young as 11 to learn how to start a company. The US-based Young Entrepreneurs Academy (YEA) is set to launch its first programme in India in August as it looks to groom budding entrepreneurs between the ages of 11 and 18. The 25-day course, with three-…