Inclusion Financial News

₹120 crore in FY23, after positing a ₹120 crore loss in FY22, according to financials submitted to the Ministry of Corporate Affairs. Founded in 2018 by second-time entrepreneurs Paavan Nanda and Saumya Singh Rathore, WinZO Games saw its revenue surge 182% from ₹242 crore in FY22 to ₹687 crore in FY23.

Warburg Pincus is closing in on Shriram Housing Finance Ltd (SHFL), having emerged as the frontrunner to acquire the unit of Chennai-based non-banking finance company (NBFC) Shriram Finance, said people in the know. In a closely fought race, Bain Capital is the other serious contender, they said. Binding bids were submitted last week, they added. Negotiations are ongoing with both seeking to maximise value, “but for the moment, Warburg seems a more aggressive suitor or bidder for the company,” said a person close to the company on condition of anonymity. To be sure, the sale likely hinges on the matter of valuation. Shriram pegs it at Rs 6,500 crore, inclusive of a control premium, but the offers have been in the Rs 5,300-5,500 crore range.

Xuirin Finance’s launch of DeFi Debit Cards marks a pivotal moment in the decentralized finance sector. It introduces a groundbreaking shift towards integrating traditional financial practices with cutting-edge decentralized technologies. These innovative cards usher in a new chapter in a multi-billion-dollar industry, taking a significant stride in harmonizing traditional financial operations with the dynamic realm of decentralized finance.

Anantnag-Rajouri Lok Sabha seat is the home constituency of Mehbooba Mufti, whose party is a partner in opposition INDIA bloc as is Farooq Abdullah-led National Conference. Both Farooq Abdullah and Mehbooba Mufti attended the INDIA bloc show-of-strength ‘Loktantra Bachao’ rally in New Delhi on March 31. Lahrvi’s candidature was announced by NC vice president and former Jammu and Kashmir Chief Minister Omar Abdullah on April 1, a day after the New Delhi rally.

BENGALURU : Non-banking finance company Namdev Finvest Private Ltd (Namdev) on Tuesday said it has raised $20 million in an equity round in its pre-series-C funding. The investment round was led by Maj Invest Financial Inclusion Fund III K/S who has put in $16 million, with participation from Promoters Group & Employees who have put in about $3 million. Founded in 2013 by Jitendra Tanwar, Namdev provides financial solutions to underserved populations in rural areas and has a presence across seven north-western Indian states.

Fidelity is looking to help more young Americans get financially savvy with a fresh series of educational campaigns.

₹341 crore by the Income Tax department for the assessment year 2020-21. “Infosys Ltd on March 31, 2024, received order under Section 201 & 201(A) of the Income Tax Act, 1961 from the Income Tax Department, Government of India for assessment year 20-21 with a tax demand of ₹341 crores (including interest)," the company said in an exchange filing. Also read: Infosys to receive windfall tax refund of ₹6,329 crore from income tax department The company is currently assessing the ramifications of this directive on its financial statements for the quarter and fiscal year ending on March 31.

₹25 lakh. Currently, India has 10 SFBs, many of which started their journey as microfinance institutions or MFIs. “One of the suggestions was to replicate the cooperative bank strategy, where it is called just a bank, and the word ‘cooperative bank’ is mentioned below the name," said the chief executive officer (CEO) of an SFB who attended the meeting with the RBI officials.

microfinance operations have remained highly concentrated, with top 10 states accounting for 85%of the total market, leaving a majority of districts and villages under-penetrated in terms of access to credit despite recent giant strides toward boosting financial inclusion. «It is a matter of concern as to why microfinance activity is not expanding in certain geographies. The exercise aims at finding the reasons behind the under-penetration so that the issues can be addressed,» Sa-Dhan executive director Jiji Mammen said. More granular data showed that about 475 districts out of 730 where microfinance has reached to the grassroot population in some form or the other have a penetration ratio less than 30%. In other words, less than 30 households out of 100 borrows micro loans from formal sources in the 65% of the districts with microfinance presence.

₹70,000 crore, equivalent to $8.4 billion, in FY25. Moreover, 19 companies have already secured the Securities and Exchange Board of India (SEBI) approval to raise a substantial ₹25,000 crore. Bharti Hexacom, Go Digit Insurance, Swiggy, Ola Electric, Waaree Energies and Brainbees Solutions are some of the most awaited IPOs in FY25.

World Autism Day is observed to raise awareness about autism spectrum disorders (ASD). This special day aims to spread awareness about autism as a disorder and to support those who are suffering from it. It is a global healthcare event that focuses on acceptance, support, and inclusion of autistic people and advocacy of their rights. What Is Autism? Autism spectrum disorders (ASD) are a diverse group of conditions characterized by some degree of difficulty with social interaction and communication. Other characteristics include atypical patterns of activities and behaviors, such as difficulty with transition from one activity to another, a focus on details, and unusual reactions to sensations.

₹11.91 lakh (ex-showroom) and reaching up to ₹16.43 lakh (ex-showroom) for the top-end ZX variant, reflecting the added value and safety offerings. Moreover, the City and City Hybrid models have not been left behind in this safety revolution.

₹1.21 lakh crore in India’s debt market during the financial year 2023-2024, the highest yearly inflow in more than nine financial years. As per the data on National Securities Depository Ltd (NSDL), FPIs’ net investment in the country’s debt markets stood at ₹121,059 crore for FY24. This was the highest FPI inflow in the debt market since FY 2014-15, when they infused ₹130,302 crore.

RBI Celebrates 90 Years: Prime Minister Narendra Modi on April 1 praised the widespread adoption of UPI and stressed the importance of the Reserve Bank of India (RBI) focusing on promoting digital transactions and financial inclusion over the next decade. The prime minister was delivering the keynote address at the central bank's 90th anniversary event today in Mumbai. Also present were RBI Governor Shaktikanta Das and Finance Minister Nirmala Sitharaman.

Mahua Moitra’s Krishnanagar constituency as the starting point for her electoral drive. During her speech, Banerjee primarily targeted the Bharatiya Janata Party (BJP). Here are 10 things CM Banerjee said during the campaign rally.

Infosys: The IT firm is set to receive a tax refund of ₹6,329 crore from the income tax department. However, the company is simultaneously facing a significant tax liability of ₹2,763 crore according to assessment orders. These orders are based on various provisions of the Income Tax Act of 1961.

Donald Trump and fellow Republicans assailed President Joe Biden on Saturday for what they called an assault on Christianity, after the US leader highlighted the Transgender Day of Visibility that this year coincides with Easter. It was the latest skirmish in the culture war shaping the White House race, as Trump seeks support from religious conservatives while Biden stakes his claim as the standard-bearer for an inclusive America.

Infosys, India's second largest software services exporter, has made a windfall gain of Rs 6,329 crore due to income tax refund orders for 11 assessment years. The company got the refunds in the fourth quarter of financial year 2023-24, the company said. The refunds, inclusive of interest, pertain to assessment years spanning from financial years 2007-08 to 2018-19, except 2016-17.

Delisting requires the following voting patterns: First, votes cast in favour of the proposal by just public shareholders (non-controlling shareholders) of the listed company should be at least two times the number of votes cast against it. This is akin to the super-majority of minority shareholders.

₹6,329 crore from the income tax department. Nonetheless, the company is concurrently confronting a substantial tax liability of ₹2,763 crore as per assessment orders. The directives are in accordance with different provisions outlined in the Income Tax Act of 1961.

Nagaland Cabinet and legislators of the eastern region of the state appealed to the ENPO to take part in the ensuing Lok Sabha elections. The Eastern Nagaland Peoples' Organisation (ENPO) has stuck to its decision not to participate in the Lok Sabha polls until its demand for a separate state carved out of Nagaland is fulfilled by the Centre. The ENPO, the apex body of seven Naga tribes of the region, has been demanding a separate state since 2010, claiming that six districts in the eastern part of Nagaland have been neglected for years. The appeal comes after a meeting of the council of ministers and the Eastern Nagaland Legislators' Union (ENLU) held in Kohima on Saturday.