Synopsis
The proceeds from this investment will be channeled to retail households and microentrepreneurs with a household monthly income of less than Rs 25,000, Northern Arc said.
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Over the last year, Northern Arc has raised debt from an array of global development financial institutions and impact-investors such as US International Development Finance Corporation, Asian Development Bank, Calvert Impact Capital.
KOLKATA: Non-bank lender Northern Arc Capital has received Rs 40 crore of debt from
Kotak Mahindra Bank, the company announced Monday. The facility is backed by partial guarantees from Michael & Susan Dell Foundation and Rockefeller Foundation.
The transaction is part of the covid-response package of both these impact institutions, that aims to alleviate the economic and social impact of the pandemic.
FM tells India Inc Centre working to save lives, livelihood amid Covid surge
PTI
New Delhi |
Updated on
April 19, 2021
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Nirmala Sitharaman speaks to A M Naik, R C Bhargava, Venu Srinivasan Pawan Munjal and others; takes inputs from business chambers
Finance Minister Nirmala Sitharaman on Monday said she has taken inputs from various industry chambers on concerns of India Inc with regard to the management of Covid pandemic and the Centre would continue to work with State governments to save lives and livelihood.
She sought feedback from businesses to deal with the impact of the second Covid-19 wave on the country s economy.
NEW DELHI: Prime Minister Narendra Modi on Saturday chaired a high-level meeting to review the Covid-19 situation in India amid a rapid spread of infections across the country.
During the meeting, which was attended by top officials, the Prime Minister said that there is no substitute for the test, track and treat strategy when it comes to tackling the pandemic. Early testing and proper tracking remains key to reduce mortality, he said.
PM Modi told the officials that India had defeated Covid last year and can do it again with the same principles but faster speed and coordination.
The Prime Minister stressed that local administrations need to be proactive and sensitive to people’s concerns amid the second wave of infections.
Lendingkart’s NBFC arm raises ₹108 crore from Dutch bank FMO
April 06, 2021
To raise additional ₹3,000 cr in debt funding in FY 2022 Lendingkart, a financial services and fintech start-up, announced a new round of fund raising of $15 million (₹108 crore) in debt funding from FMO, the Dutch entrepreneurial development bank. With this deal, Lendingkart strengthens its three-year relationship with the bank, having received funds through NCDs (non-convertible debentures) and increasing its cumulative exposure to $19 million with this transaction.
FMO supports sustainable private sector growth in developing countries and emerging markets. This new influx of funds to Lendingkart will be utilised towards expanding the reach of financial products to the MSME segment through Lendingkart’s digital platform across 100 sub-industries spread across India.
PM Modi highlighted the need to enforce Covid appropriate behaviour in the coming days and ensure the availability of beds, testing facilities and timely hospitalization, etc.
NEW DELHI: Prime Minister Narendra Modi on Sunday stressed that awareness of the community and its involvement is paramount to tackle the Covid-19 situation in the country during a high-level meeting amid a surge in cases.
During the meeting, the Prime Minister underlined the need to continue Jan Bhagidari and Jan Andolan for Covid-19 management.
He said that the five-fold strategy of Testing, Tracing, Treatment, Covid-appropriate behaviour and vaccination would be effective in curbing the spread of the virus if implemented with seriousness and commitment, a statement by the Prime Minister s Office (PMO) said.