BANK PARTNERSHIPS
Tata Power Renewable Energy inks pact with Bank of Baroda to offer solar financing solution to MSMEs
Tata Power Renewable Energy Ltd. (TPREL) and Bank of Baroda have partnered to provide financial solutions for MSMEs and C&I units adopting solar energy. Bank of Baroda will offer loans for solar projects up to 10 MW, featuring interest rates from 7.75%, collateral-free loans up to ₹10 crore, CGTMSE coverage, and repayment tenures up to 120 months.
Wall Street indexes finish lower, data raises uncertainty for rate-cut outlook
United States stock market saw a moderate dip. This happened because economic data created confusion about possible interest rate cuts by the Federal Reserve. Jobless claims decreased, but the economy grew faster than expected. Chicago Fed President expressed worry about cutting rates too quickly. Investors are now awaiting the Personal Consumption Expenditures price index.
Intel approaches TSMC for investments or partnership, WSJ reports
Intel is reportedly seeking investments and partnerships with TSMC amidst its struggles to compete in the AI race. These efforts, which predate U.S. government interest, have intensified after the U.S. took a 10% stake in Intel. The company is also exploring other avenues, including a potential joint venture with TSMC, to bolster its manufacturing capabilities and overall turnaround strategy.
Keep balance sheet strong to fund infra, innovation: FM Sitharaman tells banks
Finance Minister Nirmala Sitharaman urged financial institutions to maintain strong balance sheets to fund infrastructure, industry, and MSMEs, while partnering with NBFCs to reach underserved sectors. She highlighted the increasing demand for credit and innovative financial products as India's economy grows.
Firoz Cyrus Mistry, Santosh Nayar join Afcons board
Firoz Mistry, 29, is the elder son of late Cyrus Mistry. He also serves on the boards of SC Finance and Investments and Cyrus Investments, and is a partner at CPM Nexgen Ventures and Mistry Ventures. A Yale University liberal arts graduate, he brings experience in strategy, governance, operations and investments, along with an international perspective, according to an Afcons news release.
CoreWeave expands OpenAI pact with new $6.5 billion contract
The agreement marks the third major expansion of the partnership between the two companies this year. The company behind ChatGPT struck an initial cloud deal with CoreWeave in March worth up to $11.9 billion, followed by a $4 billion add-on in May.
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Banks critical to India's growth in an uncertain world, says FM Nirmala Sitharaman
FM Nirmala Sitharaman emphasised the critical role of banks in driving India's growth amid global uncertainty, urging them to maintain strong balance sheets for infrastructure, industry, and MSME investments. She highlighted the need for partnerships with NBFCs to extend credit to underserved sectors.
Piyush Goyal engages with global business leaders in US to boost trade, investment in India
Piyush Goyal engaged with global CEOs and policymakers in the US, promoting India as a prime destination for trade and investment. Discussions spanned sectors like logistics, technology, and sustainable energy, emphasizing collaboration and innovation. Goyal is leading trade negotiations with the US to finalize a comprehensive bilateral trade agreement, accompanied by senior officials.
Hinduja's Ashok Leyland kicks off China tie-up with battery-making goal
Ashok Leyland partners with China's CALB Group to master lithium-ion battery technology, starting with cell imports and pack assembly. The 20-year agreement aims for domestic battery design and manufacturing, aligning with India's green energy goals. This collaboration could be a model for other Indian firms seeking Chinese battery expertise amid improving bilateral relations.
Indian travellers can now use UPI payments across Qatar
Indian travellers can now use UPI in Qatar. NPCI International and Qatar National Bank have partnered. This allows UPI payments at QNB merchant locations. NETSTARS powers the payment solution. Tourists can easily pay at attractions and Qatar Duty Free. This reduces the need for cash. It also eliminates currency exchange issues.
RBI renews statement of commitment to FX Global Code
The Reserve Bank of India has reaffirmed its dedication to the FX Global Code. This code promotes integrity in the foreign exchange market. It establishes guidelines for effective operations. The RBI's commitment ensures its FX market activities align with the code's principles. The Global Foreign Exchange Committee maintains and updates the code.
UPI now accepted in Qatar, Qatar Duty Free becomes first merchant
NPCI International Payments Ltd. has partnered with Qatar National Bank to enable UPI payments across Qatar via QNB-acquired merchants' point-of-sale terminals. This allows Indian travelers, the second-largest group visiting Qatar, to seamlessly use UPI at major tourist spots and Qatar Duty Free, reducing reliance on cash and currency exchange.
EXIM Bank boosts credit to exporters hit by US tariffs, eyes Africa expansion
India's EXIM Bank is boosting credit support for exporters, particularly towards Africa, in response to U.S. tariffs. The bank is easing risk limits on overseas banking partners and offering shorter-tenure credit to address working capital needs. With exporters facing challenges, EXIM Bank aims to facilitate diversification into non-traditional markets, exploring credit lines for African banks and partnerships with major lenders.
Yes Bank shares in focus after SMBC picks up additional 4.22% stake, overtakes SBI as largest shareholder
Yes Bank share price: SMBC has become the largest shareholder in Yes Bank after acquiring an additional 4.22% stake for Rs 8,888.97 crore, raising its holding to 24.22% and overtaking SBI. The deal, executed via Carlyle affiliate CA Basque, strengthens SMBC’s India banking presence.
Stocks in news: Mazagon Dock, Swiggy, Tata Motors, Indian Hotels, YES Bank
Markets experienced a slight dip amid volatility on expiry day, continuing a consolidation phase. Optimism from GST reforms and festive demand is countered by external pressures like visa-fee hikes and foreign outflows. Mazagon Dock, Indian Hotels, YES Bank, Tata Motors, Puravankara, and Swiggy saw significant developments, including partnerships, stake acquisitions, and leadership changes.
Skills gap forces chip cos to seek global training & talent rotation
India’s semiconductor drive is slowed by a shortage of chip design and factory talent. Firms are addressing this through overseas training, global recruitment, and partnerships with local institutes. Cross-border knowledge transfer and industry-led skilling are seen as essential to closing capability gaps and sustaining the country’s semiconductor ambitions.
Amwoodo raises $4 million from Rainmatter, others
Kamath's Rainmatter has put in $2 million while Adventz, Caspian and Singapore's ThinKuvate have invested $2 million between them, Amwoodo founder and chief executive Agni Mitra told ET.
Nvidia to invest $100 billion in OpenAI for data centre development
The move underscores the increasingly overlapping interests of the various tech giants developing advanced AI systems. The deal gives Nvidia a financial stake in the most prominent AI company in the world, which is already an important customer. The investment gives OpenAI the cash and access it needs to buy advanced chips it needs in the first place to maintain its dominance in an increasingly competitive landscape.
YES Bank shares rally 10% in 1 month as Sumitomo ups stake. Analysts eye Rs 25, is it a buy?
YES Bank shares are up following Sumitomo Mitsui Banking Corporation's increased stake. This move boosts investor confidence in the bank's recovery. Analysts predict the stock could reach Rs 25 soon. YES Bank is planning to enter wealth management and expand branches. The bank reported strong Q1 FY26 results, raising hopes for a credit rating upgrade.
UK’s NatWest to invest in Indian startups to boost talent footprint
NatWest Group plans to invest $250,000 to $2 million in early-stage Indian startups, focusing on AI, payments, and digital tools. It’s also expanding its India tech centres, aiming to hire 3,000 more engineers. Over 50% of its tech team is already based in India, supporting growing digital innovation efforts.
Nvidia to invest $100 billion in OpenAI to power next-generation AI, NVDA stock hits record high
Nvidia is investing up to $100 billion in OpenAI to build huge AI data centers and power next-generation AI models. The partnership will help OpenAI grow its AI systems and reach more users worldwide. Using Nvidia’s advanced chips, OpenAI aims to create new AI technology and expand its role in the global AI economy.
International airline co-branded credit cards are rolling out red carpet for Indians: Here’s how frequent travellers can benefit
International airlines’ co-branded cards focus on attracting more Indians to their loyalty programs and rolling out the red carpet. International airlines are now capitalising on this gap. All major West Asian carriers, along with Lufthansa in the West and Singapore Airlines in the East, have co-branded partnerships in India, offering appealing benefits to their cardholders.
$100 million & counting: Brand Tendulkar shows no signs of stopping
Sachin Tendulkar's brand valuation exceeds $100 million, fueled by nearly 25 partnerships and rising endorsement revenues. His enduring appeal stems from trust and a clean image, attracting both traditional and new-age companies like Reddit and Tata Consumer Products. Beyond endorsements, Tendulkar invests in startups and remains active in cricket-related ventures, solidifying his continued influence.
India seeks big investments from UAE: Piyush Goyal
India is actively seeking increased foreign investments from the UAE, targeting sectors like infrastructure, technology, and green energy. Both nations are committed to strengthening their strategic partnership, aiming to double non-oil trade to $100 billion. Initiatives like Bharat Mart are underway to support Indian businesses in expanding globally, alongside potential free trade agreements with GCC countries.
Yes Bank eyes wealth foray after deal with Japan’s SMBC
Yes Bank is planning to enter wealth management after partnering with Sumitomo Mitsui Banking Corporation. India's wealthy population is growing, creating opportunities. Yes Bank will compete with major private banks and non-bank players. The bank aims to finalize a joint strategy with SMBC in three years. They will focus on scaling operations and new growth areas.
Russians to get cashless payment option in India
Sberbank and Cheq have partnered to facilitate cashless transactions for Russian tourists visiting India. This collaboration addresses challenges faced due to sanctions. Russian tourists can now use the Cheq app with their Sberbank accounts for QR code payments. This initiative strengthens economic ties between Russia and India. It also offers a convenient payment solution for tourists.
Bilateral trade doubles under CEPA; India, UAE eye next growth leap
Piyush Goyal's UAE visit focuses on strengthening India-UAE ties through the 13th HLTFI meeting, reviewing CEPA and exploring new investments. Bilateral trade has nearly doubled since CEPA's implementation. Goyal will also engage with top CEOs and hold high-level meetings to deepen the Comprehensive Strategic Partnership across various sectors.
VTB Bank’s two-decade journey in India as trade and finance evolve
VTB Bank, the first Russian bank in India, has significantly expanded its operations since 2005, facilitating growing India-Russia trade. With a focus on direct rupee-rouble transactions and support for Russian firms, VTB is enhancing financial infrastructure. The bank's strategic expansion includes new offices and online services to streamline business operations between the two nations, fostering a stronger economic partnership.
Paytm launches credit line on UPI with Suryoday Small Finance Bank
Paytm has introduced Paytm Postpaid, a UPI credit line, in partnership with Suryoday Small Finance Bank. This facility allows select users short-term, interest-free credit for up to 30 days. Users can use Postpaid for online shopping, UPI payments, bill payments, and bookings on the Paytm app. This move follows Paytm's recent report of a consolidated net profit.
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