Category: News

Fintech start-up NIRA raises $1 million seed funding.

Nira, Bangalore based fintech startup that provides small value credit to consumers with limited access to traditional modes of finance, has raised $1 million in seed funding from angel investors based in India and the United Kingdom. The firm will use the fundings to accelerate building out the core team and technology to drive the…

Schaeffler Group to invest Rs 1,000 crore more in India.

Schaeffler Group, the German-based manufacturer of rolling element bearings for automotive, aerospace and industrial uses, has planned to invest an additional Rs 1,000 crore in its Indian operations over the next three years. Recently, the firm completed its merger with Ina Bearings India and LuK India, which was announced back in August 2017.The firm is making…

NIIF to acquire controlling stake in IDFC Infrastructure Finance.

National Investment and Infrastructure Fund (NIIF), India’s first sovereign wealth fund announced that it has acquired IDFC Infrastructure Finance (IDFC-IFL), an infrastructure debt fund. This acquisition is the first investment from NIIF’s strategic fund. The acquisition is subject to approval from RBI and customary closing conditions. The company has a loan book of more than Rs…