Sachin Bansal’s Navi Finserv raises ₹163 crore from Citi

Posted By: Vishal Maurya Posted On: Aug 24, 2023
In the past 16 months, Navi Finserv has completed more than 30 personal loan securitization transactions of over ?3,400 crore

Mumbai: Sachin Bansal-led digital non-bank lender Navi Finserv Ltd on Thursday said it has raised ₹163 crore in a securitization transaction with Citi India and Northern Arc.

The PTC (pass through certificate) transaction is Navi's first AAA-rated securitization in the personal loans space. As per the statement, it also marks Citi India's inaugural securitized exposure to digital lending players in India.

In the past 16 months, Navi Finserv has completed more than 30 personal loan securitization transactions of over ₹3,400 crore with multiple investors across banks and NBFCs.

Citi India acted as the senior investor in the transaction and Northern Arc was the subordinate investor and the backup servicer. The funds from this transaction will be used to advance loans to Navi's customers, Navi said in a statement.

“Navi is proud to become a part of the prestigious AAA club. We are confident that this transaction's success will unlock fresh avenues of financing and will expand our investor base even further," said Sachin Bansal, co-founder, Navi Group.

K. Balasubramanian, managing director and head of corporate bank for Citi in South Asia covering India, Bangladesh, and Sri Lanka said that the deal is unique, with strong built-in structural features that helped the transaction achieve the highest rating.

“Besides being Citi India's first securitization within the personal loans asset class, this is also our first securitized lending to an Indian digital lending client," said Balasubramanian.

Meanwhile, Ashish Mehrotra, managing director and chief executive officer of Northern Arc Capital, said the transaction's structure reduces the inherent risk of investment and is backed by Northern Arc's strong underwriting and risk management.

“To date, Northern Arc has led more than 1,600 securitization transactions aggregating to over ₹50,000 crore, solidifying our dominance among domestic and international investors, including foreign banks," said Mehrotra.

Source: Live Mint
Related Posts: FLIPKAR,SACHIN BANSAL,NAVI,NAVI FINSERV,CITI,NORTHERN ARC,163 CRORE

Comment on Post

Leave a comment

If you have a News HTS user account, your address will be used to display your profile picture.



Flipkart Big Billion Days Sale 2023 coming soon

Posted By: Preeti Dabar Posted On: Sep 21, 2023
For representation purposes

Walmart owned Flipkart has teased its upcoming Flipkart Big Billion Days 2023 Sale on the platform. The sale is often considered a high time revenue generation chance for the e-commerce platform and potential customers in India also wait for it. As per the track record, interested buyers can expect bank offers, discounts, cashbacks and price cuts in broadly all categories.

According to Flipkart, the date and schedule of the sale is not out yet. However, as per a report by Jagran, the sale is likely to begin in India from October 3 onwards.

As per the previous sale trends, Flipkart usually offers heavy discounts on several categories, including home appliances, furniture, electronics, gadgets, fashion apparels and more. Interestingly, the sale will also offer heavy discounts on OnePlus, Samsung, and Apple.

Moreover, Flipkart has launched its official landing page for the sale. As per the page, electronics and accessories are expected to get up to 80 per cent off. Similarly, TV and appliances can also get up to 80 per cent off.

The Flipkart also announced that it will reveal the deals from Apple products on Oct 1, 2023, whereas the deals on Samsung will be revealed on Oct 3, 2023.

Apple India is now accepting pre-orders for the iPhone 15 series, with the official release date set for September 22. Customers in India can take advantage of substantial discounts of up to ₹6000 on the iPhone 15 series. These attractive offers can be accessed on the Apple India website as well as at their retail outlets in Delhi and Mumbai. Apple India is currently offering an immediate discount of up to ₹6,000 when you make a purchase on their website using an HDFC Bank card.

It will be interesting to note how much discount Flipkart will offer on the newly launched iPhone 15 Series. With the rising demands for iPhone 15 series devices, it is possible that the smartphones can quickly become out of stock. Hence, it is advisable to add the desired smartphone in the cart before the sale begins and the card details are also saved prior, in case the payment mode will be the bank cards.

Source: Live Mint
Related Posts: APPLE INDIA,APPLE INC.,FLIPKART,FLIPKART SALE,FLIPKART SALE 2023,IPHONE 15 SERIES,FLIPKART BIG BILLION DAYS SALE 2023,FLIPKART BIG BILLION DAYS SALE,BIG BILLION DAYS SALE 2023

Comment on Post

Leave a comment

If you have a News HTS user account, your address will be used to display your profile picture.



Pawan Khera calls avoiding 14 TV news anchors by INDIA bloc ‘non-cooperation’

Posted By: Preeti Dabar Posted On: Sep 16, 2023
Congress spokesperson Pawan Khera. (File Photo/ANI) (HT_PRINT)

Opposition INDIA bloc's decision to not attend television shows by a list of fourteen journalists is not a ‘boycott’ but a non-cooperation movement, Congress leader Pawan Khera said on Saturday.

The decision on listing anchors and shows was taken at the first meeting of the INDIA coordination committee held at the home of Nationalist Congress Party chief Sharad Pawar.

“Nothing is permanent and if tomorrow the journalists mentioned on the list published by the Indian National Developmental Inclusive Alliance 'realise that what they were doing is not good for India', INDIA leaders will again attend their shows," Pawan Khera said ahead of the two-day Congress Working Committee meeting.

On Friday, INDIA bloc member and Congress MP from Assam, Gaurav Gogoi told reporters that the decision to boycott certain TV news anchors and their shows were taken because ‘Congress party' wishes ‘not to extend support to some journalists who are in the WhatsApp group of the BJP Media cell'.

"The motive of Congress party behind this decision is to not extend support to some journalists who are in the WhatsApp group of the BJP Media cell and spread hatred in the country, which is a crime as per the law." Gogoi said.

The list, shared by several member parties of INDIA coalition, contains the names of Republic Network's Arnab Goswami, Aaj Tak's Sudhir Chaudhary, News18 Hindi's Amish Devgan, TimesNow's Navika Kumar, IndiaToday Group's Gaurav Sawant among 14 news anchors.

Source: Live Mint
Related Posts: INDIA,PWANA KHERA,BHARTIYA JANATA PARTY,INDIA BLOC NEW,CONGRESS VS BJP,WHATSAPP,BJP MEDIA CEL,LOK SABHA ELECTIONS,SHARAD PAWAR,MALLIKARJUN KHARGE,NAVIKA KUMAR,ARNAB GOSWAMI

Comment on Post

Leave a comment

If you have a News HTS user account, your address will be used to display your profile picture.



Flipkart ties up with government for rural livelihood programme

Posted By: Vanshika Pathak Posted On: Sep 16, 2023
Flipkart said this partnership with Flipkart enhances financial inclusion, promotes entrepreneurship, and contributes to NRLM's mission of poverty reduction and rural development. Photographer: Brent Lewin/Bloomberg

New Delhi: Flipkart has tied up with the government’s national rural livelihood mission (NRLM), a poverty alleviation programme to sell products of women artisans from Maharajganj in Uttar Pradesh, the e-commerce platform said on Saturday.

This tie-up will provide these women a broader platform to reach customers nationwide through the online platform, the company said in a statement.

NRLM is administered by the rural development ministry. “ This initiative provides these women a platform to exhibit their skills, expand their market reach, and improve their socio-economic status. This partnership with Flipkart enhances financial inclusion, promotes entrepreneurship, and contributes to NRLM's mission of poverty reduction and rural development," the company statement said.

As part of this, women will be imparted skills to thrive in the world of e-commerce. This workshop will provide essential training, tools, and insights to empower these small women entrepreneurs to succeed online, Flipkart said.

"This collaboration between NRLM and Flipkart represents a powerful stride towards uplifting rural communities. By providing a platform for local artisans, we are not only preserving our rich cultural heritage but also contributing to the economic development of rural India," the statement said quoting Pankaj Chaudhary, minister of state for finance.

The statement also said that the partnership was not just a collaboration but also a promise to transform lives and communities. It highlights the power of e-commerce to drive positive change, preserve traditions, and empower women in rural India, the statement said.

Source: Live Mint
Related Posts: FLIPKART,RURAL LIVELIHOOD MISSION,E-COMMERCE PLATFORM,ONLINE PLATFORM,WOMEN ENTREPRENEURS,ECONOMIC DEVELOPMENT

Comment on Post

Leave a comment

If you have a News HTS user account, your address will be used to display your profile picture.



Maratha’ Manus Eknath Shinde

Posted By: Anita Mamgai Posted On: Sep 16, 2023

Manoj Jarange, the poster boy of Maratha reservation ended his hunger strike after 17 days on Thursday, as Maharashtra Chief Minister Eknath Shinde told him that his government was in favour of the quota and that steps were being taken in that direction.

ALSO READ | Jalna Protest Leader Manoj Jarange is now the Face of Maratha Reservation Demand in Maharashtra

After breaking his fast, Jarange spoke to his supporters and the media and reinforced his trust and faith in the CM. Shinde, a Maratha himself, also assured the community that his government was committed to the reservation for the Maratha community in education and government jobs.

While all this was unfolding, one thing went unnoticed — both the deputy Chief Ministers of Maharashtra, Devendra Fadnavis (Bharatiya Janata Party) and Ajit Pawar (Nationalist Congress Party), were absent.

However, other BJP leaders such as Union Minister of State for Railways Raosaheb Danve, Maharashtra Cabinet minister Girish Mahajan, Radhakrishna Vikhe-Patil, along with Sena (Shinde faction) leaders Sandeepan Bhumare, Uday Samant and Arjun Khotkar were present. Even former minister and NCP (Sharad Pawar) faction leader Rajesh Tope was present.

Jarange showing faith in Shinde over his deputies shows that his supporters and he trust the Chief Minister and nobody else. The reason could be the lathicharge on Jarange's supporters a week ago.

When Shinde formed the government, it was evident that the state was running on the instructions of Fadnavis. As the survey advertisement ‘Modi for India and Shinde for Maharashtra' featured, the differences between these two leaders increased. The lathicharge on Jarange's supporters in Jalna gave Shinde the opportunity to emerge as a leader, while the opposition raised questions over Fadnavis, who is the home minister of the state.

Although Fadnavis apologised for the incident, it reignited the Maratha reservation issue and many protests were staged. Protests were even reported at Baramati, the hometown of Ajit Pawar, asking him to leave this government. Since the Jalna incident, both the deputy chief ministers have distanced themselves from the issue. But the BJP and NCP Ajit Pawar faction have declined the rumours of differences.

According to Fadnavis's office, he could not visit Jalna as he was on the official Rajasthan tour, where he even addressed a rally.

When Fadnavis was the Chief Minister of the state, the Maratha community held huge protest rallies in different parts of the state with the demand for reservation. Political analysts felt that the issue of Maratha reservation, which was kept on the backburner, was again brought to the forefront, just to push Fadnavis on the back foot.

Last Monday, a video of CM Shinde went viral, in which he is seen saying, “We need to speak out and leave…”

Shinde was trolled by the opposition and it was also portrayed that the current government is not serious about the issue. Later, Shinde issued a clarification.

ALSO READ | Sharad Pawar Rubbing Salt in the Wounds of Marathas: Shiv Sena (Eknath Shinde) on Jalna Lathicharge

According to Shiv Sena leader and former mayor of Thane Naresh Mhaske, “The CM is first a karyakarta and a ground leader. He doesn't have any ego and went personally to meet Jarange, who was protesting for the community.”

The visuals from the meet made it clear that Shinde is portraying himself as the only leader of Maharashtra and the chief ministerial face.

Source: News18
Related Posts: AJIT PAWAR,BHARATIYA JANATA PARTY BJP,DEVENDRA FADNAVIS,EKNATH SHINDE,MAHARASHTRA POLITICS,MARATHA COMMUNITY,NATIONALIST CONGRESS PARTY (NCP),NEWS18 SPECIALS,SHIV SENA

Comment on Post

Leave a comment

If you have a News HTS user account, your address will be used to display your profile picture.



INDIA boycotting some TV news anchor to avoid

Posted By: Jogendra Kumar Posted On: Sep 15, 2023
Assam Congress MP Gaurav Gogoi (PTI)

The Opposition INDIA bloc, following a joint meeting, had released a list of Television News anchors' shows that the alliance's leader would actively avoid and boycott attending. The INDIA bloc listed out 14 such TV news anchors who would be boycotted by their leaders.

On Friday, INDIA bloc member and Congress MP from Assam, Gaurav Gogoi told reporters that the decision to boycott certain TV news anchors and their shows were taken because ‘Congress party' wishes ‘not to extend support to some journalists who are in the WhatsApp group of the BJP Media cell'.

"The motive of Congress party behind this decision is to not extend support to some journalists who are in the WhatsApp group of the BJP Media cell and spread hatred in the country, which is a crime as per the law." Gogoi said.

Source: Live Mint
Related Posts: INDIA,INDIA OPPOSITION,GAURAV GOGOI,INDIA MEETING,NAVIKA KUMAR,ARNAB GOSWAMI,SUDHIR CHAUDHURY,ADITI TYAGI,AMAN CHOP,AMISH DEVGAN,MISSION 2024,LOK SABHA ELECTIONS,BJP VS CONGRES

Comment on Post

Leave a comment

If you have a News HTS user account, your address will be used to display your profile picture.

POPULAR News

icon
Bussiness Petrol and diesel prices In India remained stagnant on Thursday, continuing the year long price stability, that has been seen since May 21 last year, when the previous pan-India revision to fuel rates was carried out. Prices across major cities including New Delhi, Kolkata, Mumbai, Chennai did not r
icon
Bussiness Stocks to Watch: Nifty futures traded 26 points, or 0.13 per cent, higher at 19,816, signaling that Dalal Street was headed for a positive start on Monday. Here's a slew of stocks that will be in focus today for various reasons. Stocks to Watch: Nifty futures traded 26 points, or 0.13 per cent, higher at 1
icon
Bussiness OMG 2, directed by Amit Rai, received a warm welcome from the audience. The film, featuring Pankaj Tripathi, Akshay Kumar, and Yami Gautam, achieved a strong opening at the domestic box office on its first day of release. OMG 2, directed by Amit Rai, received a warm welcome from the audience. The film, f
icon
Bussiness MCX Q1 Results: Multi Commodity Exchange of India (MCX) announced its April-June quarter results for fiscal 2023-24 (Q1FY24) on July 29, reporting a decline of 52.5 per cent in consolidated net profit of ₹19.66 crore, compared to ₹41.46 crore in the corresponding period last year. The operating inc
icon
Bussiness Power trading solutions provider PTC India on Saturday posted a 5.62 per cent year-on-year rise in its consolidated net profit at ₹142.70 crore for the April-June quarter of this fiscal, mainly on the back of higher revenues. Power trading solutions provider PTC India on Saturday posted a 5.62 per ce
icon
Bussiness As the deadline for filing Income Tax Returns (ITR) is just one day away, the department stated that more than 6 crore tax returns have been filed for income earned in the 2022-23 fiscal year as of Sunday evening. A total of 27 lakh ITRs have been received by the income tax department, number which has surp
icon
Bussiness Petrol, and Diesel Prices on August 10: The price of Petrol and Diesel remained constant on Wednesday, August 10 across major cities like New Delhi, Kolkata, Mumbai, and Chennai. The petrol and diesel rates for each day, whether new or constant, are announced at 6 am on the day. These, however, vary fro
icon
Bussiness LPG Cylinder Rates: Oil marketing companies have cut the price of 19 kg LPG gas cylinders across the country. There has been a reduction of Rs 100 in Delhi. At the same time, a reduction of around Rs 93 has been made in other metros. Now 19 kg cylinder will be available in Delhi for Rs 1680, which was till now a
icon
Bussiness Petrol, and Diesel Prices on July 31: The price of Petrol and Diesel remained constant on Monday, July 31 across major cities like New Delhi, Kolkata, Mumbai, and Chennai. The petrol and diesel rates for each day, whether new or constant, are announced at 6 am on the day. These, however, vary from state t
icon
Bussiness India and Britain could sign a free trade agreement (FTA) this year as both countries have reached consensus on the broad contours of the proposed deal aiming to boost economic growth and jobs, a top Indian trade ministry official said. India and Britain could sign a free trade agreement (FTA) this yea
icon
Bussiness Balrampur Chini Mills posted strong Q1 results on Saturday as their profit jumped a whopping 493% to touch ₹73.5 crore during the quarter ending June 2023. During the same quarter last fiscal, the company posted consolidated net profit of ₹12.38 crore. The revenue of the company rose 28% from ₹1,094.
icon
Bussiness The price of gold marginally dropped on Thursday, with the cost of 1 gram of 22 carat gold declining to ₹5,495 from yesterday's ₹5,505, as per the figures released by Goodreturns. Accordingly, the price of 8 grams of 22 carat gold also decreased to ₹43,960 from the previous figure of ₹44,040, marking a p
icon
Bussiness Reliance Industries Ltd, India's most valuable company, has sought shareholder's approval to give Mukesh Ambani another five-year term as chairman and managing director of the company till 2029 -- a period during which he has opted to draw nil salary.
icon
Bussiness Go First airline, which has been grounded since early May, has announced a further extension of flight cancellations till July 31, the airline announced in a tweet on Sunday. Go First airline, which has been grounded since early May, has announced a further extension of flight cancellations till Jul
icon
Bussiness In order to settle the pending contractual disputes of government and government undertakings, the finance ministry has launched the ‘Vivad se Vishwas II – (Contractual Disputes)' scheme, according to an official statement released on Wednesday. Finance Minister Nirmala Sitharam announced th
icon
Bussiness If you did not link your Permanent Aadhaar Number (PAN) to Aadhaar before June 30, your PAN is now considered inoperative. This means you'll face some problems with your financial activities and taxes. For instance, you won't be able to invest in bank fixed deposits or mutual fund schemes, file income
icon
Latest News India is currently seeing a surge in cases of acute conjunctivitis or eye flu. It is caused by various factors, such as allergies or infections, resulting in inflammation of the conjunctiva that covers the white part of the eyeball. The incessant rain, humid conditions, and waterlogging are providi
icon
World ‘RIP Tylee' is trending on social media after Canadian entrepreneur Ryan Cohen's pooch, Tylee, died. Ryan took to Instagram to share the news, adding that Tylee inspired him to start his e-commerce company, Chewy, in 2011. Ryan was the company's CEO until 2018, and is the executive chairman of GameSt
icon
World Isolated internationally and authority tested by a failed mutiny, Russia hosted African leaders for a summit in his native Saint Petersburg to project normalcy and display support from its allies. Isolated internationally and authority tested by a failed mutiny, Russia hosted African leaders fo
icon
Bussiness India's foreign exchange reserves jumped $708 million to $602.161 billion for the week ended August 11, the Reserve Bank of India (RBI) said on Friday. This is the first increase in the kitty after declining for three consecutive weeks. In the previous reporting week, the overall reserves had declined $2.417 billion to $601.453 billion.
icon
Latest News Are you feeling Monday blues? Do you need a little pick-me-up? If you nodded, why not try some shopping-inspired brain teasers to perk you up? Who knows, a good brain teaser can be just the thing you need right now. The brain teasers feature shopping areas, and you need to spot different items in each of th
icon
Entertainment Filmmaker Anurag Kashyap recently gave a glowing review to Karan Johar's directorial comeback Rocky Aur Rani Kii Prem Kahaani. After Anurag revealed he loved, cried and watched the film twice, many users took to the comment section of his post and criticised the film. Responding to them all, Anurag c
icon
Life Style Disha Patani went out for a dinner date with her friends last night. The actor got clicked by the paparazzi outside a restaurant in Mumbai. Known for embracing risqué fashion statements, Disha slayed another look for the outing. She wore a golden mini dress featuring intricately-placed cut-outs. Sc
icon
Bussiness The Reserve Bank of India (RBI) has announced the launch of the Pilot Project for Public Tech Platform for Frictionless Credit by Reserve Bank Innovation Hub (RBIH), a wholly-owned subsidiary of the RBI. The Reserve Bank of India (RBI) has announced the launch of the Pilot Project for Public Tech Platform for Frictionless Credit by Reserve Bank Innovation Hub (RBIH), a wholly-owned subsidiary of the RBI.