Goodluck India successfully raised nearly Rs 200 crore in the QIP round, it said. MC Garg, Chairman of Goodluck India, said, "The recently concluded round of fundraising is well in line with the company s growth strategy."
There is a greater need for Indian banking sector to become technology enabled and develop tools like APIs (Application Programming Interface) to compete with fintech companies in the credit business, former finance secretary, S. C.
Garg said in an ASSOCHAM e-summit yesterday. In his inaugural address in an ASSOCHAM National E-Summit & Awards - Banking and Financial Lending Companies, Garg stated that banking in the digital era will have to fintechalise and public sector banks need to be generally readying themselves for the new age banking as it would improve performance and strengthen their finances. Garg also said that banks need to be able to match efficiency and service of the fintech companies in the retail loans as well.
ANI
Former Economic Affairs secretary S C Garg on Monday said the fresh COVID-19 wave and consequent local lockdowns may bring down the economic growth to less than 10 per cent in the current fiscal.
Earlier this month, International Monetary Fund (IMF) projected an impressive 12.5 per cent growth rate for the country in 2021. The Economic Survey projected a growth rate of 11 per cent, while RBI retained its growth forecast at 10.5 per cent for the ongoing financial year.
As per the RBI estimates, economic growth expected to be 26.2 per cent in Q1, 8.3 per cent in Q2, 5.4 per cent in Q3 and 6.2 per cent in Q4 this fiscal.