State-owned SIDBI has disbursed Rs 3,337.20 crore out of Rs 3,783.20 crore sanctioned during 2015-16 through its wholly-owned subsidiary MUDRA to fund the small and self owned enterprises. MUDRA (Micro Units Development and Refinancing Agency) encourages development of micro units. In order to fu…
Companies, Finance & Markets
JSW ventures gets SEBI nod to fund start-ups
JSW Ventures, the venture capital arm of the JSW Group, has created a corpus of Rs. 100 crore to invest in tech start-ups over the next three years after getting a nod from the markets regulator SEBI. The fund, which was announced last year, has been raised from the company’s internal accruals an…
World Bank partners with the Indian council of arbitration (ICA) for dispute board services in India
Dispute Board (DB) system is a concurrent mechanism for resolution of dispute before arbitration/litigation. The DB usually consists of three experts, who are experienced, respected, and impartial, acceptable to both the parties and conversant with the nature and complexity of the work involved. …
Mobikon acquires social and marketing solutions provider MassBlurb for $1 million
Restaurant customer engagement and marketing platform Mobikon has acquired Mumbai-based social and marketing solutions provider MassBlurb in a mixed equity and cash deal estimated to be around $1 million. The acquisition will help the Jungle Ventures and Asean tech-fund Qualgro-backed Mobikon to …
Paytm to assist sellers in six more local languages
In a move aimed at consolidating its seller marketplace, digital payments and ecommerce platform Paytm has created local language-based services that will help sellers in cataloguing, documentation and loan applications. While automation and providing end-to-end seller services worked well for ma…
SEBI may scrap planned listing platform for start-ups
The market regulator is reworking its plans for a capital-raising platform targeted exclusively at start-ups after the concept failed to take off a year after it was proposed. Now, the Securities and Exchange Board of India (Sebi) is considering sweeping changes to the listing framework for techn…
APSFC cuts rates, to extend loans to MSMEs
The Andhra Pradesh State Financial Corporation (APSFC) has recently cut interest rates and is focusing on extending loans to the MSMEs, the service sector and commercial and residential projects, according to Managing Director WVR Murthy. He was speaking here on June 23, 2016 after launching a bu…
US based Bessemer Venture Partners to invest Rs 80 crore in food-delivery co. Swiggy
US-based venture capital firm Bessemer Venture Partners is in advanced talks to invest around Rs 80 crore or $12 million in food-delivery company Swiggy, according to two people aware of the negotiations. The deal, if it concludes, will value the Bengaluru-based company at around $200 million (Rs…
Data analytics firms gear up to lure the best talent
Fractal Analytics, which recently raised $100 million from Malaysian sovereign wealth fund Khazanah, plans to step up the hiring of data scientists and technologists. Rival Axtria will also be adding people as companies in the data analytics space see a boom. “We are investing big in product busi…
Bulk orders to boost small electrical equipment makers, says association
Bulk orders resulting from the government’s rural electrification and transmission system strengthening schemes will boost small and medium enterprises that may pose competition to established players, Indian Electrical & Electronics Manufacturers Association (IEEMA) said. The industry …