Bengaluru-based Cred, founded by Kunal Shah, prioritizes hiring employees with good credit scores of 750 or above to reinforce responsible credit behavior. The company has also launched new credit-focused features like Svalbard to enhance users’ credit management and empower financially responsible decisions.
Related news
7-Eleven's parent company, Seven & i Holdings, is exploring store sell-offs with Canadian firm Alimentation Couche-Tard (ACT) to address antitrust concerns and a potential merger. Joint efforts by financial advisors are underway to find buyers, aiming to create a feasible divestiture plan. This follows measures to counter ACT's takeover bid, previously rejected for undervaluation.
Revenue secretary Sanjay Malhotra has been appointed as the new RBI governor, succeeding Shaktikanta Das. The 56-year-old IIT Kanpur and Princeton University alumnus will begin his three-year term on December 11th. Malhotra's appointment marks a continuation of bureaucratic leadership at the central bank, following Das's tenure of close coordination with the government.
Tata Pension Management erroneously listed Divinion Advisory Services, owned by the family of Tata Sons executive Suprakash Mukhopadhyay, as a Tata group company in August 2022. While the error was corrected in subsequent disclosures, Mukhopadhyay's connection to Divinion, including CSR contributions and solicitation of investments, raises potential conflict of interest concerns under Tata Sons' code of conduct.
Reliance Industries Ltd has invested $13 billion in acquisitions over the past five years, shifting focus from oil to clean energy, telecom, retail, and media sectors. Recent acquisition Karkinos Healthcare boosts its digital healthcare presence. Major investments include Hathway Cable and REC Solar. RIL aims to enhance its healthcare services using advanced technology and extensive networks.
US President-elect Donald Trump’s second term is expected to temporarily impact the Indian rupee. Historical trends suggest rupee has performed better under Republican administrations, with current volatility predicted to be short-lived. Despite a recent 3% dip, the rupee remains stable compared to other currencies.
Budget 2025 income tax expectations: The introduction of pre-filled Income Tax Returns (ITRs) has proven to be a significant advancement in streamlining the tax filing process. However, there is a strong need for further enhancement in data extraction.
NSE MD & CEO Ashishkumar Chauhan highlights India's potential to fund entrepreneurial dreams with 11 crore investors and 21 crore accounts. He also emphasizes the importance of MSMEs leveraging capital markets. Former Union minister Anurag Singh Thakur asserts that MSMEs will drive India's vision of becoming a developed country by 2047.
Central banks in Asia, including RBI and Bank Indonesia, are increasingly using derivatives to protect their currencies against the strong dollar. The RBI's short forward dollar position reached $68 billion in December, while Bank Indonesia's hit $19.6 billion. This strategy raises concerns about potential deferred selling pressure instead of removing it, suggesting possible future risks.
Vedanta has secured creditor approval for its demerger, surpassing the required 75% support with 83%. This restructuring will divide the company into five separate businesses, enhancing individual business value and attracting investors, particularly in newer sectors like semiconductors.
Three major IPOs—Vishal Mega Mart, Sai Life Sciences, and One Mobikwik—concluded on Friday, amassing a staggering Rs 2.2 lakh crore in investor interest. One Mobikwik led the pack with a 120-fold oversubscription, becoming 2024's most sought-after IPO exceeding Rs 500 crore. Vishal Mega Mart and Sai Life Sciences also saw substantial demand, subscribed 27 and 10.3 times respectively.