The ‘Maharaja’ returns home after 69 years!
Here’s the latest news and updates from the world of MSMEs.
This week’s edition covers:
- Lendingkart and Bank of Maharashtra team up to provide small-ticket MSME loans
- Tata brings Air India into the fold
- RBI’s Digital Payments Index up by 40%
- Bulk upload Performa invoices with Swipez
- A free app for you
In the news 📰
Lendingkart & Bank of Maharashtra to co-lend MSME loans💸💰
The Fintech company Lendingkart, announced that it has teamed up with the Bank of Maharashtra to co-lend business loans to MSMEs. With its ‘zero touch’ technology, Lendingkart aims to make financial aid affordable and available at their doorstep for distressed MSMEs.
The RBI registered NBFC to onboard and disburse unsecured business loans up to ₹10 lakh to MSME borrowers across the country in real time. Co-lenders can also use the platform to underwrite company loan applications using the ‘cred8’ cash-flow-based evaluation process with end-to-end funnel visibility on loans at different stages.
Lendingkart also has a lending scheme in association with Canara Bank.
Air India comes home to Tata after 69 years ✈
Talace Pvt. Ltd, a subsidiary of the Tata group paid a walloping ₹18K Crores, to buy Air India. Along with a 50% share in Air India’s ground handling arm SATS.
It’s a homecoming for Air India ‘Maharaja’ after 69 years since the airline fleet was taken over by the government in 1953. Whether it’s a triumphant homecoming, only time will tell. Air India is currently losing money, approximately ₹20 Crores, per day. But, one doesn’t get far betting against Tata.
What the landscape, or should we say, cloudscape will be for stalwarts like IndiGo & Spicejet or the fresh blood Akasa Air & Jet Airways will be, remains be seen.
India leads the globe in digital transactions
Since the Covid-19 outbreak in March 2020, digital payments in India have shown an exponential trajectory. RBI reports a 40% increase on its Digital Payment Index, compared to last year.
More than 25.5 billion real-time payments transactions, led primarily by UPI instruments amounting to ₹73 Lakh Crores, have been reported. In response to fat-evolving digital economy of the nation, the RBI has recently established a Fintech department.
Similar to the Payments and Settlements System Department, the new Fintech division aims to oversee regulations & provide a research framework.
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One app we use…
Notion
While there is a plethora of productivity apps to choose from, a rare few work well for both personal and professional use. Notion, however, breaks that notion. *pun intended*
While Notion is strictly speaking designed as a workspace, it resists that categorization in the traditional sense. While it offers project tracking, task management, databases, calendar integration, to-do lists, etc., the features one has come to expect from productivity apps. It also provides features like habit trackers, journaling/writing tools, news & website curation which make it well-suited for personal use.
It’s an extremely flexible and robust app to help you not just boost productivity but also maintain a healthy work-life balance.
Drop us a line and let us know what you would like to see in the upcoming newsletters. Just like the Swipez platform this newsletter too is built with your feedback.
