Archives February 2025

Mumbai, February 19, 2025: PayNearby, India’s leading branchless banking and digital network, has made a significant impact at the Mahakumbh Mela 2025, enabling seamless financial and digital services for millions of yatris. PayNearby’s cash withdrawal services through AEPS and MATM witnessed an impressive 19% growth during the duration of the Mela as compared to the previous month, reflecting the increasing demand for accessible and secure banking solutions during the event.

In addition to the surge in cash withdrawal services, other offerings also experienced notable growth. Aadhaar Pay services grew by 66%, highlighting the convenience and trust users place in biometric-based digital payments. Mobile recharge services saw a 32% increase, ensuring that attendees stayed connected with their loved ones. Insurance services experienced an 8% rise, underscoring the importance of financial security even during festive occasions. Money transfer services saw a significant 47% growth, ensuring that devotees could transfer funds with ease.

PayNearby set up assisted counters for essential financial and digital services at Jan Sahayata centers and through its 15,000+ multi-utility retail touchpoints across Prayagraj.

Speaking about the achievement, Anand Kumar Bajaj, Founder, MD & CEO, of PayNearby, said, “The Maha Kumbh Mela 2025 is a momentous gathering that brings together faith, culture, and community on an unparalleled scale. Ensuring financial accessibility at such an event is both an opportunity and a responsibility. Our network has enabled seamless cash withdrawals, money transfers, and Aadhaar Pay transactions, with significant growth in usage, reinforcing the trust in digital financial services. The 66% rise in Aadhaar Pay and the 47% increase in money transfers highlight the critical role of assisted digital transactions in high-footfall environments. By empowering local retailers as digital enablers, we are strengthening Bharat’s financial ecosystem and making essential services more accessible when they are needed most.”

With a network of over 12 lakh retail partners, PayNearby continues to drive financial empowerment across Bharat, making every transaction seamless, secure, and accessible.

Kolkata, 19th February 2025 – StockGro, India’s leading investment advisory and knowledge platform dedicated to enhancing financial literacy, is proud to announce its collaboration with Zomato, India’s food ordering and delivery platform, to help Zomato’s delivery partners manage their finances better. The collaboration aims to empower Zomato’s delivery partners with valuable tools and essential knowledge to manage their earnings and enhance their financial well-being effectively.

Through this initiative, Zomato has collaborated with StockGro to empower delivery partners with financial literacy through tailored education sessions. These sessions will be available in multiple local languages, including Hindi, Tamil, Telugu, Bengali, Kannada, and more, allowing delivery partners from across the country to access the content easily. The sessions will cover essential topics like budgeting, saving, investing, and future planning. This aligns with Zomato’s commitment to empowering 1 million gig workers by increasing their earning potential and financial stability through upskilling, partnerships, and benefit programs, enabling them to build financial stability and achieve their goals.

As part of this initiative, StockGro has successfully conducted 10 high-impact financial literacy sessions across Delhi, Hyderabad, Kolkata, and Bangalore, equipping 1000+ delivery partners with essential financial skills. By covering budgeting, saving, investing, and future planning, these sessions have empowered delivery partners to take control of their earnings, build financial security, and plan for a stable future. This initiative marks a crucial step in enhancing financial well-being within the gig economy, helping delivery partners make informed decisions that directly impact their livelihoods and long-term prosperity.

Speaking on the initiative, Mr. Ajay Lakhotia, Founder & CEO, StockGro said, “At StockGro, we believe that financial literacy is a key driver of long-term personal growth. We are excited to collaborate with Zomato to empower delivery partners with the knowledge and skills they need to make smarter financial decisions. This collaboration will not only improve their financial security but also enable them to build better futures for themselves and their families.”

“At Zomato, our delivery partners are the backbone of our business, and we are committed to building a more supportive environment for them. Through this collaboration with StockGro, we aim to empower the delivery partners with the necessary tools to take charge of their financial journey, helping them make informed decisions and secure a healthier financial future,” said Anjali Ravi Kumar, Chief Sustainability Officer, Zomato.

India; February 19, 2025 – Pocket Entertainment, the newly restructured parent company of Pocket FM and Pocket Novel, is excited to introduce Pocket Toons, an AI-first comics platform that leverages AI to transform storytelling and content creation, setting new industry benchmarks in speed, quality, and accessibility.

How AI is Transforming Comics
At the core of Pocket Toons lies Blaze!, a cutting-edge AI-powered studio revolutionizing the way artists and writers create. Designed to enhance creativity without compromising the soul of great storytelling, Blaze! empowers creators to produce high-quality, episodic content 20 times faster than industry standards—all while slashing production costs to just a third of the usual.

Blaze! automates complex processes such as background rendering, scene composition, coloring, and quality control, allowing artists to focus on storytelling and character development rather than production bottlenecks.

With Blaze!, Pocket Toons has redefined content production, releasing three episodes per day for a comic—a game-changer in an industry where the norm is just one per week. This represents a 20x improvement in speed at one-third the cost, setting a new benchmark for how comics are created, distributed, and consumed. This breakthrough ensures readers always have fresh, immersive stories to dive into, setting a new benchmark for engagement and storytelling.

Market Growth and Early Success
Since its beta launch in January 2025, Pocket Toons has gained rapid traction, already hosting over 30 comic titles and achieving strong product-market fit, with users engaging for an average of 60 minutes every day.

To accelerate its next phase of growth, Pocket Entertainment has committed $15 million in 2025 for scaling up Pocket Toons and is targeting $100 million in ARR by 2026.

Massive Engagement & Growth
Pocket Toons is already witnessing high engagement during its beta phase, proving that audiences are embracing this new way of consuming comics:

• Users are spending over 60 minutes per day on the platform; Paying users are spending over 2 hours daily
• Total reading time on the platform has surpassed 6 million minutes during the beta phase
• Total downloads have crossed 100,000 in the last two weeks

Rohan Nayak, Co-founder & CEO of Pocket Entertainment, emphasizing on the transformative role of AI in the entertainment landscape, said “The fusion of AI and human storytelling marks the beginning of a new creative era. Historically, every major evolution in entertainment—be it cinema, animation, or digital streaming—has been driven by technology. At Pocket Entertainment, we are harnessing AI to amplify human creativity—empowering artists to push the boundaries of storytelling without replacing their unique artistic expression. By integrating AI into the creative workflow, we are not just increasing efficiency—we are unlocking new possibilities for storytelling at an unprecedented scale. Our users on Pocket Toons are loving it, spending over 60 minutes daily. AI-powered comics aren’t the future—they’re happening now”

Shreyas Joshi, SVP of Pocket Toons, elaborated on AI’s impact on the comics industry:

“The demand for high-quality, episodic content has never been higher. We are producing content 20x faster at a third of the cost, making high-quality comics more accessible than ever. Blaze! supercharges artists’ workflow while preserving creativity and originality, setting a new global benchmark for AI-powered storytelling. It amplifies the capabilities of artists, allowing them to produce more without sacrificing their originality or the quality of their work. Pocket Toons is not about replacing human creativity—it’s about enhancing it. As we look ahead, AI-driven platforms like ours will be instrumental in shaping the future of entertainment, bridging the gap between artistic ambition and scalable production.”

The AI Engine Driving Pocket Toons
Pocket Toons is deploying AI-driven innovation across multiple dimensions to accelerate growth:

• Personalized Audience Engagement – AI curates and recommends content tailored to user preferences, enhancing reader retention and satisfaction.
• Diversified Content Expansion – AI enables the exploration of new storytelling formats, including interactive comics and immersive genres.
• Global Reach & Localization – AI-powered analytics help identify key markets and adapt content for diverse cultural and linguistic audiences with unprecedented speed

The Blaze AI suite underpins its’ creative ecosystem, ensuring seamless and scalable artistic production:

• Tailored AI Models for Artists – Each artist benefits from an AI model that can be adapted to and trained with their distinct style.
• Real-Time AI Rendering – AI-generated illustrations are produced instantly using accessible, everyday computing power.
• AI-Powered Search & Quality Control – Intelligent scene-matching and automated quality checks maintain artistic integrity and coherence.

“India is making its mark on the global AI stage, and Blaze! is the latest proof of how India is building AI for the world. I am incredibly proud that Pocket FM, a pioneer in the audio entertainment revolution, is now expanding its vision with the launch of Pocket Toons. With its proprietary AI-powered studio, Blaze!, Pocket Toons is setting new benchmarks in the comics industry—redefining storytelling by blending human creativity with AI-driven efficiency. This is not just about speed and scale; it’s about democratizing comic creation, empowering artists, and making high-quality storytelling more accessible than ever before. As one of our portfolio companies, Pocket FM continues to push the boundaries of innovation, proving that India is at the forefront of shaping the future of global entertainment.” said Harsha Kumar, Partner at Lightspeed.

The Comics Market is Booming—AI is the Key to its Future
The global comics industry is undergoing rapid transformation. Valued at $8.63 billion in 2023, the comics market has been expanding at an annual growth rate of 7.8% since 2018. By 2028, projections estimate it will reach $11.39 billion, with a further increase to $15.38 billion by 2033. This momentum is fueled by AI-powered content creation, increasing digital adoption, and the rise of mobile-first reading experiences.

Feb 19th, 2024 Bengaluru: SwiffyLabs, a leading full stack financial technology platform, today announced the promotion of Babu NS to Chief Product & Business Officer. This strategic appointment strengthens the company’s leadership as it continues to transform digital banking and lending solutions globally.

Babu, a founding member of SwiffyLabs, brings over three decades of expertise in core banking technology. He is widely recognized as one of the architects of Finacle, Infosys’ flagship universal banking platform, where he spent 24+ years shaping its product strategy and driving global banking transformations across India, USA, MENA, and Singapore.

In his expanded role, Babu will spearhead product innovation and go-to-market initiatives, focusing on SwiffyLabs’ end-to-end lending solutions that enable financial institutions to launch and scale secured and unsecured innovative lending products including Loan Against Securities (LAS), Embedded financing, Supply Chain Financing, Green Energy Loans among other traditional loan products.

“Babu’s deep understanding of banking technology and his track record of building scalable platforms makes him ideal for this role,” said Ashish Anantharaman, Founder & CEO of SwiffyLabs. “As a founding member, his leadership will be crucial as we continue to empower financial institutions with our cloud-native solutions and our AI platform to accelerate our digital transformation journey.”

Before SwiffyLabs, Babu was an early member at Navi Technologies, where he built a data-driven digital lending platform. His expertise spans complex digital banking, core banking, and lending transformation programs.

SwiffyLabs empowers global financial institutions with scalable, secure, and intelligent lending and payment solutions. Apart from a Loan Origination System (LOS) and Loan Management System (LMS), the company has built Risk Management System (RMS), Collateral Management System (CMS), and Business Rules Engine (BRE) allowing financial institutions to deploy lending products with a speed, and flexibility. The company was incubated under Jio Platforms in 2023.

Los Angeles, CA – February 2024 – The luminous and exceptionally talented Falu, a four-time Grammy-nominated artist, stole the spotlight at the 67th Annual Grammy Nominee Reception alongside her band, American Patchwork Quartet. This year, she celebrates yet another milestone, earning a prestigious nomination in the Best Folk Album category with her band. This achievement solidifies her place in the realm of global music excellence.

For this momentous occasion, Falu graced the red carpet in an exquisite custom-designed ensemble by renowned New York-based fashion designer Tina Tandon. Tandon has been instrumental in curating Falu’s red-carpet looks for the past three Grammy appearances. Her visionary designs have consistently placed the singer on multiple coveted “Best Dressed” lists across Hollywood, earning her recognition as a true fashion favorite at the Grammys.

This year’s ensemble was breathtaking—an ethereal Georgette gown in a striking Rani/Fuchsia hue, adorned with delicate gold lace details that accentuated the flowing cape sleeves and asymmetrical hemline. The inspiration behind this masterpiece was a seamless fusion of American Folk aesthetics and delicate femininity, reflecting Falu’s personal style and artistic essence for this nomination.

Tina Tandon shared insights into her creative process behind the look:

“Every gown I custom create is a reflection of the wearer’s personality, preferences, and comfort. Falu, being inherently elegant and graceful, has a conservative yet sophisticated approach to fashion. She wanted something that encapsulated the essence of Folk music while maintaining a soft, feminine allure.”

The ensemble was further elevated with exquisite jewelry pieces by Posh Pari Couture, adding an opulent finishing touch to her look. With her impeccable style and undeniable talent, Falu continues to redefine red-carpet glamour with a global flair while embracing her deep-rooted musical and cultural heritage.

Hyderabad, 19 February 2025: Prachay Capital Limited, an RBI-registered Non-Banking Financial Company – Investment and Credit Company (NBFC-ICC), has announced the public issue of its Secured, Rated, Redeemable Non-Convertible Debentures (NCDs) to raise to ₹100 Crore. The issue opens on 28 February 2025 and closes on 13 March 2025.

The BBB-/Stable CRISIL-rated NCDs offer investors a 13% p.a. return with monthly interest payments, making it a fixed-income investment opportunity. The proceeds from this issue of NCDs will be primarily used for the stated fund utilization.

Speaking about the issue, Mr Girish Murlidhar Lakhotiya, Managing Director, Prachay Capital Limited said: “This NCD issue is a key step in Prachay Capital’s expansion strategy. With our focus on structured corporate lending and investment in private debt instruments, we aim to generate strong and sustainable returns for our investors while maintaining a robust financial profile.

Prachay Capital has zero delays in servicing liabilities and has a Gross NPA of 0% on its Assets Under Management (AUM). The Company’s AUM has grown at a CAGR of 46.61% from ₹ 132.92 Crore as of March 31, 2022, to ₹ 285.70 Crore, as of March 31, 2024, and has a return on equity (ROE) above 17% post-tax over the last three financial years. The Company’s Net Interest Margin (NIM) for the last three financial years ending on March 31, 2024, March 31, 2023, and March 31, 2022, stood at 8.40%, 9,49%, and 11.02%, respectively and the Company’s Return on Total Assets (ROTA) have been in the range of 4% to 5% for the same period. As of the quarter and six-month period ended September 30, 2024, the Company’s Capital Risk Adequacy Ratio (CRAR) was 27.32%.

With BSE listing, the issue is open for subscription by retail individual investors, high-net-worth individual investors (HNIs), institutional investors, and corporates. For details relating to eligible investors, see “Issue Structure” beginning on page 189 of the Prospectus.

In the first half of fiscal 2025, 607 different issuers tapped the corporate bond market, issuing bonds totaling Rs 5.11 lakh crore. In fiscal 2025, the corporate bond market saw 200+ new issuers, reflecting growing confidence and participation in the debt market. Moreover, AAA-rated corporate bonds dominated the bond market with ~67% issuances in the first half of fiscal 2025.” He added

Issue Structure & Payment Terms

•  Coupon Rate – 13% p.a.
•  Payment Frequency: Monthly – As per “Issue Structure – Specific Terms of NCDs” (Page 189 of the Prospectus).
•  Interest Calculation: Based on actual day count convention.
•  Call Option: The company has the right (but no obligation) to redeem outstanding NCDs (fully or partially), at any time after 1 () year from the Deemed Date of Allotment of NCDs, with a notice of at least 21 days before exercising such call option.
•  Record Date: 15 days before the interest or redemption payment date.
•  Application Money: Full amount payable at the time of application.
•  Governing Law & Jurisdiction: The issue is governed by Indian law, and legal matters fall under the exclusive jurisdiction of Pune, Maharashtra.

We cater to the finance needs of medium and large businesses through corporate credit and corporate bonds.. Our lending is secured by movable/immovable assets and cash flows.

The company operates across two key financial segments:

•  Corporate Credit (83.40% of AUM as of September 30, 2024): The focus is on identifying the specific financial needs and the business objective to be achieved by the borrowings and structuring a financial arrangement such that the infusion of debt funds would result in achieving the business objective of our clients and will result in cashflows which will ultimately be the source of repayment for the borrowing.
•  Corporate Bonds – Unlisted, Privately Placed NCDs (16.60% of AUM as of September 30, 2024): Lending to corporates in the form of non-convertible debentures instead of traditional loans. The compliance process of unlisted, privately placed NCDs is relatively simpler and provides significant flexibility to businesses to raise funds in the manner that best suits their business models.

We have a long-term and sustainable business model which offers unambiguous value propositions to all our stakeholders. For our debt investors, we offer fixed and periodic returns which are higher than traditional debt investment opportunities such as fixed deposits, liquid mutual funds, etc. For our borrowers, we provide fast and flexible financial solutions to medium to large-sized localized businesses. For our employees, we provide the opportunity to work in the field of business finance and create innovative, mutually beneficial financial solutions and structures in an organization that supports the holistic growth of an individual.

Chandigarh, 19th February 2025: The tooling business of Godrej & Boyce, part of the Godrej Enterprises Group (GEG), announced the signing of a Memorandum of Understanding (MoU) with Italian automation specialist Bisiach & Carru (B&C) to manufacture advanced railway and aerospace equipment in India. This strategic partnership marks a significant step forward in India’s manufacturing capabilities and supports the government’s Make in India initiative. The collaboration will initially target a higher local manufacturing content with plans to increase this as capabilities develop.

This strategic alliance comes at a pivotal moment in India’s manufacturing evolution, perfectly aligned with the nation’s push for self-reliance in critical sectors. The partnership will serve the rapidly expanding needs of Indian Railways, metro projects, and the aerospace industry – sectors that form the backbone of India’s infrastructure and technological advancement. The partnership will manufacture sophisticated equipment including Advanced robotic spot-welding systems that enhance production efficiency and quality; high-precision jigs and fixtures that ensure exceptional accuracy in coach manufacturing; Specialized automation solutions tailored for India’s unique manufacturing requirements; and cutting-edge assembly machinery that meets international quality standards.

Pankaj Abhyankar, Executive Vice President and Business Head of the tooling business of Godrej Enterprises Group, said, “Our partnership with Bisiach & Carru strengthens India’s manufacturing ecosystem by introducing advanced automation and precision engineering in railway and aerospace equipment. By combining our expertise with B&C’s global capabilities, we are bringing world-class solutions tailored to India’s evolving infrastructure needs. This collaboration aligns with the ‘Make in India’ vision, with a clear roadmap to increase local manufacturing content. Through this, we aim to enhance cost competitiveness, efficiency, quality, and technological innovation in critical industries.”

Chandigarh, 19 February 2025: Bajaj Allianz Life Insurance, one of India’s leading private life insurers, today announced the launch of Bajaj Allianz Life Guaranteed Pension Goal II, a non-linked, non-participating immediate and deferred annuity plan designed to help customers take control of their retirement planning. With an industry-first feature allowing a deferment of up to 30 years, this innovative pension plan enables individuals as young as 35 years to start securing their financial future, providing unmatched flexibility for early retirement planning.

A recent study by Bajaj Allianz Life revealed that 77% of Indians consider life insurance as their preferred financial tool for a secure and stress-free retirement, reflecting a growing shift towards structured retirement planning. The survey also indicates an increasing awareness among young professionals about the need for early retirement planning, as they seek financial security and independence in their later years. Bajaj Allianz Life Guaranteed Pension Goal II is designed to address these evolving customer needs, offering an industry-first 30-year deferment period that empowers individuals to start building their retirement corpus early while maintaining financial flexibility. This strategic offering ensures customers have control over their retirement journey, allowing them to retire with confidence, stability, and peace of mind.

Speaking at the launch, Mr. Tarun Chugh, MD & CEO of Bajaj Allianz Life, said, ” With improved healthcare, life expectancy in India is rising, and many people today are living well into their 80s and 90s. This means one could spend 25-30 years without a regular income, making retirement planning more critical than ever. Globally, retirees often rely on a second source of income through social security, but Indians don’t have this benefit. Therefore, we need to bridge this gap with structured retirement solutions. At Bajaj Allianz Life, we understand that customers seek flexibility and certainty in their financial future. That’s why we’re introducing Bajaj Allianz Life Guaranteed Pension Goal II, allowing individuals to start saving as early as 35. With an industry-first 30-year deferment option and multiple annuity choices, this plan ensures a steady income stream for life ensuring customers can achieve their life goals with confidence and financial independence.”

Key features of Bajaj Allianz Life Guaranteed Pension Goal II:

•  Multiple annuity options – Choose from a life annuity, joint life annuity, and return of purchase price (ROP) options, tailored to individual retirement goals.
•  Industry-first 30-year deferment – Enables young professionals to plan their retirement early with flexibility in payout timing.
•  Customizable Return of Purchase Price (ROP) – Offers a choice between 50% to 100% ROP, that allows one to enhance their annuity amount by opting for different levels of ROP.
• Guaranteed lifelong income – Ensures a steady flow of income during retirement, removing financial uncertainties.
•  Exclusive benefits for NPS subscribers – Includes a specialized Family Pension option, offering extended financial support to dependents, including spouses and parents.

Chandigarh, February 19, 2025: Indian Hotels Company (IHCL), India’s largest hospitality company, today announced the signing of a Ginger hotel in Calicut, Kerala. This will be a greenfield project.

Ms. Suma Venkatesh, Executive Vice President, Real Estate & Development, at IHCL, said, “Calicut, with its rich historical and cultural heritage, serves as the gateway to North Kerala. As one of the state’s key commercial centers, the city continues to thrive in its strong industrial and services sectors. This signing marks our second hotel in the city and we are delighted to strengthen our partnership with Mr. KM Abdul Latheef for this project.”

Strategically located in the heart of the city, the 100-key Ginger Calicut City Center, Kerala will offer seamless access to commercial hubs and cultural landmarks. Embodying the brand’s lean luxe design philosophy, the hotel will provide guests with the perfect blend of work and leisure in vibrant, contemporary spaces. The hotel will feature Ginger’s signature all-day-diner, Qmin, along with banquet facilities, meeting rooms, a fitness center, and a swimming pool.

Calicut on the Malabar Coast is located in the northern part of Kerala. Known as the spice city, it is a blend of rich cultural history and thriving commerce.

With the addition of this hotel, IHCL will have 20 hotels in Kerala including 4 under development.

Chandigarh February 19, 2025: SBI General Insurance, one of India’s leading General Insurance companies, is delighted to join hands with the Ministry of Agriculture & Farmer Welfare, Government of India for the forthcoming ‘Meri Policy Mere Haath’ campaign, a doorstep policy distribution drive under the Pradhan Mantri Fasal Bima Yojana (PMFBY) scheduled to run from 1st February to 15th March 2025, this campaign aims to provide physical policy documents to the farmers at their doorsteps to ensure awareness among farmers about the benefits of crop insurance & seamless crop insurance experience.

The aim of the “Meri Policy Mere Haath” campaign initiative is to empower farmers by ensuring transparency, accessibility & awareness in terms of central Toll free no. 14447, National Crop insurance portal to lodge intimations in case of losses. The initiative focuses on delivering crop insurance policy documents directly to farmers, promoting awareness about the schemes benefits and strengthening trust in the process. It helps farmers stay informed about their crop coverage, claims, and enrolment process under PMFBY Scheme. During the campaign, SBI General will be conducting awareness workshops such as Fasal Bima Pathshala, Women centric workshops etc. in 8 states namely Madhya Pradesh, Uttar Pradesh, Uttarakhand, Odisha, Assam, Tamil Nadu, Maharashtra & Andhra Pradesh to sensitize farmers about the PMFBY Scheme and its benefits. The campaign will also leverage social media campaigns with dedicated hashtags like #MeriPolicyMereHaath, #PMFBY, #FasalBimaKarao, and #AtmanirbharKisan to amplify awareness and participation.

Speaking of the event, Mr. Naveen Chandra Jha, MD and CEO of SBI General Insurance, said “At SBI General Insurance, we are deeply committed to empowering India’s farming community by ensuring they have easy access to the benefits of crop insurance under PMFBY. The PMFBY scheme is bridging the risk needs of farmers by providing them the security net, offering them financial security and peace of mind. The ‘Meri Policy Mere Haath’ campaign reflects our dedication and commitment wherein we work closely with local administrations, stakeholders, and the farming community, we aim to make the policy distribution process seamless, efficient, and impactful”