Finance Ministry Urges Faster Implementation of Pradhan Mantri Surya Ghar Scheme: Report

In an effort to fast-track the Pradhan Mantri Surya Ghar Muft Bijli Yojana (PMSGMBY), the Union Finance Ministry has instructed banks to rely exclusively on the National Portal for all consumer validation, installation verification, and site feasibility assessments. According to a recent report, physical verification, often cited as time-consuming, will be phased out in favour of a streamlined, digital-only process.

Key Features of the PMSGMBY Scheme

The PMSGMBY initiative targets the installation of rooftop solar systems for both rural and urban households across India. The scheme aims to reach 10 million homes, providing affordable access to renewable energy solutions. A collateral-free standard loan product is available under the programme, offering financing linked to the repo rate plus 50 basis points (Repo + 50 bps) for amounts up to ₹2 lakh.

Progress and Current Status

As per the latest figures, approximately 4.1 million applications have been received under the scheme. Of these, around 1.1 million installations have been successfully completed. On the financial side, roughly 375,000 loan applications have been submitted, leading to the sanctioning of about 2 lakh loans. Over ₹4,600 crore has been sanctioned, with more than 75% of loan applications relating to amounts up to ₹2 lakh.

Vendor Support and Financial Innovations

The report also highlights the need for new financial products tailored for vendors. A working capital instrument specifically designed for vendors is being proposed, with encouragement for private sector banks to support its adoption. Additionally, there is an emphasis on aiding applicants without a Credit Information Bureau (India) Limited (CIBIL) score, thus making the scheme more inclusive.

Read More: Uttar Pradesh Government Sets Ambitious Rooftop Solar Target Under PM Surya Ghar Yojana. 

Strengthening Ground-Level Activities

To further support the rollout, banks are being encouraged to strengthen field activities. This includes technical and product training at the branch level, consumer awareness programmes, the setting of branch-specific targets, and continuous monitoring through State Level Bankers’ Committees (SLBCs) and District Level Bankers’ Committees (DLBCs).

Integrating Renewable Finance Obligations

The Finance Ministry report also suggests that renewable finance obligations be explored and integrated into the banking system, alongside the expansion of Priority Sector Lending (PSL) to bolster support for renewable energy initiatives.

Enhancements to Application Processing

Recognising the need for greater flexibility in the application process, the report proposes introducing a functionality allowing applicants to modify their bank name prior to final submission. Furthermore, a confirmation popup verifying the selected bank and branch details before proceeding will be incorporated to minimise errors.

Conclusion

Under the current model, the consumer’s average contribution is estimated at around ₹15,000. Vendors receive the government subsidy in two tranches — 70% initially and 30% upon completion. Despite digital integration through the National Portal and the Jan Samarth platform, the process still entails multiple compliance steps such as branch visits, site verification, and document submission.

Importantly, the financing potential of the scheme is valued at ₹2 trillion, presenting a significant opportunity for the banking and financial sectors.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

यूपीआई क्रेडिट कार्ड क्या है और पीएम मोदी बिम्सटेक भुगतान के साथ इसके एकीकरण के लिए क्यों जोर दे रहे हैं?

पीआई क्रेडिट कार्ड डिजिटल भुगतान में एक नवाचार है जो उपयोगकर्ताओं को अपने क्रेडिट कार्ड को यूनिफाइड पेमेंट्स इंटरफेस (यूपीआई) एप्लिकेशन से जोड़ने की अनुमति देता है। परंपरागत रूप से, यूपीआई का उपयोग सीधे एक बैंक खाते से दूसरे बैंक खाते में धन हस्तांतरित करने के लिए किया जाता था, लेकिन यह नई कार्यक्षमता लेनदेन को उपयोगकर्ता के बैंक खाते के बजाय उनके क्रेडिट कार्ड से चार्ज करने की अनुमति देती है। 

इसका मतलब है कि उपयोगकर्ता भौतिक क्रेडिट कार्ड ले जाए बिना खरीदारी कर सकते हैं – भुगतान मोबाइल डिवाइस के माध्यम से तुरंत संसाधित किए जा सकते हैं, जो सुविधा और बढ़ी हुई सुरक्षा दोनों प्रदान करते हैं। 

यूपीआई क्रेडिट कार्ड की मुख्य विशेषताएं 

  • भौतिक कार्ड की आवश्यकता नहीं: उपयोगकर्ता अपने वॉलेट को घर पर छोड़ सकते हैं और अपने स्मार्टफोन का उपयोग करके भुगतान कर सकते हैं। 
  • यूपीआई-लिंक्ड भुगतान: एक बार क्रेडिट कार्ड को यूपीआई ऐप से लिंक करने के बाद, उपयोगकर्ता उतनी ही आसानी से भुगतान कर सकते हैं जितना कि वे बैंक खाते से करते हैं। 
  • क्रेडिट-आधारित लेनदेन: भुगतान राशि क्रेडिट कार्ड को बिल की जाती है, बैंक बैलेंस से नहीं काटी जाती है। 
  • सुरक्षित भुगतान: लेनदेन पिन-संरक्षित होते हैं और कार्ड को भौतिक रूप से संभालने की आवश्यकता नहीं होती है। 

यूपीआई क्रेडिट कार्ड का उपयोग करने के लाभ 

  • उपयोग में आसानी: प्रत्येक लेनदेन के लिए मैन्युअल रूप से कार्ड विवरण दर्ज करने की आवश्यकता नहीं है। 
  • आस्थगित भुगतान: खरीदारी क्रेडिट कार्ड सीमा के भीतर की जाती है, जिससे उपयोगकर्ता बाद में बिल का भुगतान कर सकते हैं। 
  • पुरस्कार और कैशबैक: कई बैंक यूपीआई क्रेडिट कार्ड लेनदेन पर रिवॉर्ड पॉइंट या कैशबैक प्रदान करते हैं, हालांकि शर्तें प्रदाता के अनुसार भिन्न होती हैं। 
  • व्यापक स्वीकार्यता: यूपीआई भुगतान व्यापारियों के एक विशाल नेटवर्क में स्वीकार किए जाते हैं, जिसमें ऑफ़लाइन और ऑनलाइन प्लेटफ़ॉर्म शामिल हैं। 
  • त्वरित भुगतान: भुगतान वास्तविक समय में संसाधित किए जाते हैं, जिससे एक सहज और तेज़ अनुभव सुनिश्चित होता है। 

अपने क्रेडिट कार्ड को यूपीआई ऐप से कैसे लिंक करें 

यूपीआई क्रेडिट कार्ड सेट करना सरल है और आमतौर पर इसमें केवल कुछ मिनट लगते हैं: 

  1. अपना पसंदीदा यूपीआई ऐप खोलें। 
  2. ‘क्रेडिट कार्ड लिंक करें’ विकल्प चुनें। 
  3. सूची में से अपना जारी करने वाला बैंक चुनें। 
  4. अपना कार्ड प्रकार चुनें (जैसे, वीज़ा, RuPay)। 
  5. लेनदेन को अधिकृत करने के लिए एक यूपीआई पिन जेनरेट करें। 

लोकप्रिय भारतीय बैंक जैसे एचडीएफसी बैंक, आईसीआईसीआई बैंक और अन्य पहले से ही यूपीआई क्रेडिट कार्ड लिंकिंग का समर्थन करते हैं। 

पीएम मोदी ने बिम्सटेक भुगतान प्रणालियों के साथ यूपीआई को जोड़ने का प्रस्ताव क्यों रखा 

हाल ही में हुए एक शिखर सम्मेलन के दौरान, प्रधान मंत्री नरेंद्र मोदी ने भारत की यूपीआई प्रणाली को बिम्सटेक सदस्य देशों – अर्थात् भूटान, बांग्लादेश, म्यांमार, थाईलैंड, नेपाल और श्रीलंका के भुगतान नेटवर्क के साथ एकीकृत करने का प्रस्ताव रखा। 

इस प्रस्ताव के पीछे तर्क में शामिल हैं: 

  • क्षेत्रीय व्यापार को बढ़ावा देना: भुगतान प्रणालियों को जोड़ने से सीमा पार लेनदेन में घर्षण कम हो सकता है। 
  • पर्यटन को बढ़ावा देना: इन देशों के पर्यटक बिम्सटेक देशों के भीतर यात्रा करते समय अपने गृह देश की भुगतान प्रणालियों का निर्बाध रूप से उपयोग कर सकते हैं। 
  • वित्तीय समावेशन को बढ़ावा देना: एक सामान्य डिजिटल भुगतान अवसंरचना सदस्य देशों में आर्थिक अंतराल को पाट सकती है। 
  • भारत के डिजिटल नवाचार का प्रदर्शन: भारत पहले से ही वास्तविक समय के लेनदेन में एक वैश्विक नेता है और अब वैश्विक अर्थव्यवस्था में अपने प्रभाव का विस्तार करना चाहता है। 

निष्कर्ष 

भारत यूपीआई जैसे नवाचारों के लिए वास्तविक समय के डिजिटल लेनदेन में अग्रणी देशों में से एक के रूप में उभरा है। सरकार ने सक्रिय रूप से डिजिटल भुगतान अपनाने को बढ़ावा दिया है: 

  • कई बैंकों और ऐप्स के साथ यूपीआई एकीकरण 
  • उपयोगकर्ताओं और व्यापारियों के लिए प्रोत्साहन योजनाएं 
  • अंतर्राष्ट्रीय टाई-अप और प्रस्ताव, जैसे सिंगापुर का PayNow और बिम्सटेक पहल 

यह प्रयास भारत के डिजिटल भुगतान अवसंरचना में एक वैश्विक नेता बनने और सभी के लिए समावेशी वित्तीय पहुंच सुनिश्चित करने के व्यापक मिशन का हिस्सा है। 

अस्वीकरण: यह ब्लॉग विशेष रूप से शैक्षिक उद्देश्यों के लिए लिखा गया है। उल्लिखित प्रतिभूतियां केवल उदाहरण हैं और सिफारिशें नहीं हैं। यह व्यक्तिगत सिफारिश/निवेश सलाह नहीं है। इसका उद्देश्य किसी व्यक्ति या संस्था को निवेश निर्णय लेने के लिए प्रभावित करना नहीं है। प्राप्तकर्ताओं को निवेश निर्णय के बारे में स्वतंत्र राय बनाने के लिए अपना शोध और आकलन करना चाहिए।  

प्रतिभूति बाजार में निवेश बाजार जोखिमों के अधीन हैं, निवेश करने से पहले सभी संबंधित दस्तावेजों को ध्यान से पढ़ें। 

 

Coforge Unit Sells Entire Stake in Coforge Advantage Go to Sapiens UK

On 28 April 2025, Coforge Limited officially announced a significant development concerning its international subsidiary structure. During a Board Meeting held the same evening, the company disclosed the execution of a Share Purchase Agreement for the indirect sale and transfer of its entire shareholding in Coforge Advantage Go Limited.

Share Purchase Agreement Between Coforge U.K. Limited and Sapiens UK Limited

Coforge U.K. Limited, a wholly owned subsidiary of Coforge Limited, has entered into a Share Purchase Agreement with Sapiens UK Limited for the complete sale and transfer of its shareholding in Coforge Advantage Go Limited. The execution date of the agreement is 28 April 2025. The transaction is subject to the fulfilment or waiver of conditions outlined in the agreement by both parties, who are targeting completion within four to six weeks from the execution date.

 

The base consideration agreed upon under the Share Purchase Agreement is GBP 43,000,000, which will be subject to adjustments as specified in the agreement. The transaction does not fall under the purview of related party transactions and is not considered a slump sale or covered under any Scheme of Arrangement, including Regulation 37A of the LODR Regulations.

Strategic Buyer Profile and Financial Impact

Sapiens UK Limited, the buyer, is a part of the globally recognised Sapiens group. Sapiens [NASDAQ, TASE: SPNS] is known for its end-to-end software solutions in the insurance industry and serves over 600 customers through a workforce of nearly 6,000 professionals operating across North America, Europe, and the Asia Pacific. Since 2010, the group has acquired and integrated 20 companies into its portfolio.

 

Coforge Advantage Go Limited contributed 1.7% of the total income and 2.7% of the net worth to the consolidated financials of Coforge Limited during the last financial year. This indicates that while the subsidiary played a supportive financial role, its strategic divestment aligns with the company’s broader restructuring or capital reallocation efforts.

 

Read More: Coforge Announces Completion of 100% Acquisition of TMLabs Pty Ltd

Coforge Share Performance 

As of April 29, 2025, at 12:00 PM, Coforge share price is trading at ₹7,400.50 per share, reflecting a surge of 0.31% from the previous closing price. Over the past month, the stock has declined by 4.89%.

Conclusion

The board meeting held on 28 April 2025, from 8:20 PM to 8:35 PM IST, concluded with the formal approval of this transaction. Coforge Limited, through its UK arm, has executed a significant divestment reflecting its ongoing strategic initiatives. The move not only reflects the company’s dynamic approach to business but also involves a reputed global entity in the insurance software space as the buyer.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

IndusInd Bank Deputy CEO Resigns Amid Accounting Lapses

IndusInd Bank will report a financial loss of nearly ₹2,000 crore in its 2024–25 books due to wrongly handled derivative trades. This issue goes back almost 6 years and came to light after internal and external audits. These trades were not accounted for correctly,  causing profits to be shown higher than they actually were.

Independent Review Confirms Mistake 

An external investigation by Grant Thornton, appointed by the bank’s board, confirmed the incorrect accounting treatment of internal derivative trades. The report also evaluated the roles of senior employees linked to the issue. Following this, the bank confirmed it has stopped internal derivative trades since April 2025.

Deputy CEO Arun Khurana Resigns 

Arun Khurana, the deputy CEO and executive director of IndusInd Bank, resigned immediately after the findings were released. In his resignation letter, he accepted responsibility for the loss since he oversaw the treasury front office, which handled these trades. He also offered support in transitioning his duties.

Leadership Changes and Past Exits 

This marks the second major leadership exit in 2025. Earlier in January, the CFO, Govind Jain, stepped down, after which Khurana took on additional responsibilities as acting CFO. On April 18, the bank appointed Santosh Kumar as deputy CFO to manage financial operations.

RBI’s Limited Extension for CEO

In March, the RBI extended the term of MD & CEO Sumant Kathpalia by only one year instead of three, as earlier suggested by the board. This decision, combined with the accounting lapses, signals increased regulatory scrutiny and the possibility of leadership reshuffles ahead.

Bank Board Takes Action

The bank’s board has begun identifying those responsible and is planning to restructure roles within senior management. They are focused on ensuring accountability and preventing similar lapses in the future.

 

Read More: IndusInd Bank to Realign Senior Management Roles After Accounting Review

Share Performance 

As of April 29, 2025, at 11:20 AM, Indusind Bank ltd Share Price is trading at ₹836.55 per share, reflecting a surge of 0.72% from the previous day’s closing price. The stock’s 52-week high stands at ₹1,550.00 per share, while its low is ₹606.00 per share.

Conclusion

The resignation of Arun Khurana marks a major turning point for IndusInd Bank’s leadership and highlights the serious consequences of internal financial mismanagement. As the board works to restructure roles and restore trust, the incident underlines the importance of strong oversight in senior banking positions.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Gensol Exits DLF Office Deal A Month Prior to SEBI Order

As per news reports, a month prior to SEBI’s interim order dated April 15 against Gensol Engineering’s promoters, the company withdrew from a high-profile lease deal with DLF. Gensol had signed a Letter of Intent (LoI) to lease 90,000 sq ft in a premium office building in Gurgaon but informed DLF recently that it would not proceed with the final agreement. 

A source aware of the development noted that, “Usually at an LoI stage, the company pays rent for two months in advance. In this case, the rent was around ₹1.8 crore a month and the LoI was signed around 8-9 months ago. When Gensol team approached for cancelation of agreement, DLF agreed to it since majority of the building is pre-leased and it has demand from more corporates.” 

Strong Demand in Gurgaon’s Office Market 

Despite Gensol’s exit, DLF is not expected to face leasing setbacks. Major corporates, including Google and Table Space, are reportedly in talks for space in the same development. 

According to Cushman & Wakefield, NCR saw a gross leasing volume (GLV) of 2.8 million sq ft in Q1 2025. The IT-BPM sector led with a 45% share, while Gurugram accounted for 62% of the leasing activity, followed by Noida (35%) and Delhi (3%). 

The Noida Expressway sub-market recorded the highest leasing share at 27%, marking a 1.7x growth over the average of the previous four quarters. 

Read More, Tata Technologies Share Price Falls Over 5% After Block Deal, Down 50% From Listing Price.  

SEBI’s Interim Order and Allegations 

SEBI’s April 15 order raised concerns over financial irregularities at Gensol. The regulator alleged that Gensol procured 4,704 EVs despite loans being sanctioned for 6,400 vehicles, leading to a discrepancy of ₹262 crore in the company’s books. 

Sebi has directed a six-month forensic audit to verify the findings of its interim investigation, which also accused promoters Anmol and Puneet Singh Jaggi of fund diversion. 

Conclusion

Gensol’s lease termination occurred weeks before SEBI’s interim action. A forensic audit is underway to confirm findings of financial irregularities. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing. 

How Loan Inquiries Impact Your Credit Score in India: Key Facts You Should Know

In India’s dynamic financial environment, understanding the nuances of how loan inquiries affect your credit score is essential for maintaining financial stability. Whether you are applying for a credit card, a personal loan, or a home mortgage, every inquiry plays a role in shaping your credit profile. 

A low credit score can severely restrict access to future credit, especially during critical situations like medical emergencies or urgent home repairs. Hence, it is important to be aware of the key facts surrounding credit inquiries.

Hard vs Soft Inquiries: Understanding the Concept

When an individual applies for a loan, it typically results in a ‘hard inquiry’ on their credit report. This means lenders formally check the applicant’s credit history and score to evaluate the risk of extending credit. A hard inquiry may cause a slight dip in the credit score, particularly if recent defaults or missed payments are detected. Furthermore, these inquiries can remain visible on your credit report for up to two years.

In contrast, ‘soft inquiries’ occur when you check your own credit score or when a company reviews your credit for pre-approved offers. Importantly, soft inquiries do not negatively affect your credit score. Distinguishing between these two types is crucial for maintaining a healthy credit record.

Read More: What Is a Good Credit Score? A Guide for Indian Borrowers in 2025

Multiple Inquiries May Signal Financial Stress

Submitting numerous loan applications within a short span of time can be perceived negatively by lenders. It signals a heightened dependency on credit to manage everyday expenses and may imply a lack of financial security.

While a single hard inquiry might lower your score by only a few points, multiple inquiries can cumulatively have a more serious and prolonged impact. Lenders view this as a potential sign of financial distress, which may influence their decision when considering your loan or credit card application.

The Importance of Timing in Credit Inquiries

Timing plays a pivotal role in how credit inquiries affect your financial profile. Applying for several loans or credit cards in quick succession can result in a cluster of hard inquiries appearing on your credit report. These stay on record for several years and are visible to future lenders during credit evaluations.

Such a pattern can make securing new loans or premium credit cards significantly more difficult, often resulting in less favourable terms or higher interest rates. Being mindful of the timing and frequency of your applications can help preserve your creditworthiness.

Credit Scores Can Recover with Responsible Practices

The adverse effects of hard inquiries on your credit score are usually temporary. By demonstrating responsible financial behaviour, you can help your score recover over time.

Key practices include consistently paying loan EMIs and credit card bills on time, and maintaining a low credit utilisation ratio. These habits signal financial reliability to lenders, allowing your credit score to rebound and eventually improve within a few months.

Staying Alert to Unauthorised Inquiries

At times, your credit report may reflect inquiries that you do not recognise. These could stem from clerical errors or, more concerningly, from attempts at identity theft.

Regularly monitoring your credit report is essential to catch any such anomalies. Promptly disputing unauthorised inquiries with the credit bureau ensures that your credit profile remains accurate and free from fraudulent activities.

Conclusion

Loan inquiries, particularly hard inquiries, significantly influence your credit score and, by extension, your future access to credit. By understanding their implications, monitoring your credit profile, and approaching credit applications with careful consideration, you can help preserve your financial reputation in India’s evolving credit landscape.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Hybrid Mutual Fund Schemes See ₹1.19 Lakh Crore Inflows in FY25

In the financial year 2024-25 (FY25), hybrid mutual fund schemes attracted inflows of ₹1.19 lakh crore, registering an 18% decline compared to the ₹1.45 lakh crore recorded in FY24. This moderation is largely attributed to heightened market turbulence during the second half of the fiscal year, triggered by a combination of corporate earnings slowdown and geo-political tensions.

Investor Base and AUM Continue to Expand

Despite the softening in inflows, the hybrid category showcased impressive resilience. Data from the Association of Mutual Funds in India (Amfi) revealed a significant increase in both the number of investors and assets under management (AUM). The number of folios in hybrid schemes rose from 1.35 crore in March 2024 to 1.56 crore in March 2025, adding more than 33 lakh new investors.

Correspondingly, the AUM for hybrid schemes grew to ₹8.83 lakh crore by March 2025, up from ₹7.23 lakh crore a year earlier — marking a robust growth of 22%. Meanwhile, the mutual fund industry’s total AUM surged past ₹65.74 lakh crore, setting a new record.

Read More: Best Aggressive Hybrid Mutual Funds To Invest In 2025. 

Role of Debt Component in Mitigating Drawdowns

One of the factors contributing to the sustained investor interest in hybrid mutual funds is the relative protection offered by their debt allocation. The debt component acts as a buffer against equity market volatility, providing stability during uncertain periods.

Slower New Fund Offer Activity Impacts Inflows

Another key reason behind the moderated inflows during FY25 was a decline in the number of New Fund Offers (NFOs) in the hybrid category. In FY24, the category had seen 21 NFO launches, which played a significant role in boosting inflows. However, in FY25, the NFO count dropped to 12, resulting in a more subdued pace of net inflows into hybrid schemes.

Overview of Hybrid Mutual Fund Schemes

Hybrid mutual funds are investment schemes that allocate funds across multiple asset classes, primarily equities and debt instruments, and occasionally in commodities such as gold. This diversified approach seeks to balance growth opportunities with income stability, offering a blended investment experience to investors.

Conclusion

Hybrid funds witnessed heightened investor interest following regulatory changes in the taxation framework for debt funds. These shifts further encouraged investors to explore hybrid categories as an alternative investment option amidst evolving market conditions.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Mutual Fund investments in the securities market are subject to market risks, read all the related documents carefully before investing.

 

Depositors of Scam-Hit New India Co-operative Bank Stage Protest Over Delayed Fund Access

The New India Co-operative Bank (NICB) has been grappling with severe challenges since the Reserve Bank of India (RBI) imposed restrictions on its operations on 13 February. 

The situation stems from a ₹122 crore embezzlement case, leading to the arrest of eight individuals so far. This financial scandal has left thousands of depositors anxious about the safety and accessibility of their savings.

The Protest in Thane: A Call for Urgent Action

The depositors under the banner of the NICB Depositors’ Foundation organised a protest in Thane’s Majiwada area. Marching towards the bank’s branch, they carried placards highlighting their demands. Their primary call was for decisive measures to either revive the struggling institution or merge it with a stable financial entity to safeguard depositor interests.

Read More: New India Co-operative Bank Crisis: Depositors Urge Revival or Merger

Key Demands Presented by Depositors

During the protest, a delegation of depositors met the branch manager and submitted a detailed memorandum. The document raised several pressing concerns:

  • Withdrawal Limit Increase: Depositors requested an increase in the withdrawal cap from ₹25,000 to ₹1.5 lakh, citing ongoing financial hardships.

  • Full Repayment of Fixed Deposits: A demand was made for full repayment of fixed deposits beyond the ₹5 lakh insurance coverage under the Deposit Insurance and Credit Guarantee Corporation (DICGC).

  • Audit Updates: They sought updates on the forensic and special audits conducted after the fraud surfaced.

  • Recovery of Embezzled Funds: Depositors urged authorities to expedite the recovery of funds from properties seized from the accused.

  • Assessment of Non-Performing Assets: Concerns were raised over the impact of non-performing assets on the bank’s financial health.

Persistent Concerns and Lack of Clarity

The memorandum highlighted that, despite previous meetings with RBI-appointed advisors and senior bank officials, considerable ambiguity remains regarding the bank’s revival prospects. Depositors voiced their fears about the long-term safety of their funds, especially for sums exceeding the insured limit.

Appeal for Timely Intervention

The protestors urged the bank’s management to immediately escalate their concerns to the NICB Administrator and seek direct intervention from the RBI. One of the key appeals was for the RBI to lift the restrictions and announce a structured plan for either revival or merger before the DICGC begins disbursing insurance payouts scheduled for 14 May.

Conclusion

Depositors cautioned that if authorities continued to delay remedial action, they would intensify their agitation. The Foundation emphasised that prolonged uncertainty is deepening the financial and emotional distress faced by depositors, many of whom depend on their savings for day-to-day survival.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Ola Electric Launches 72-Hour Electric Rush with Festive Offers for Akshaya Tritiya

Bengaluru-based Ola Electric, India’s largest pure-play EV company, has announced a special 72-Hour Electric Rush event ahead of the auspicious occasion of Akshaya Tritiya. 

Customers can avail themselves of discounts of up to ₹40,000 on the company’s Gen 2 and Gen 3 electric scooter models, with prices for the Gen 2 scooters starting at ₹67,499 and the Gen 3 scooters starting at ₹73,999. Additionally, a free extended warranty is being offered across these models.

 As of 10:41 AM, Ola Electric’s share price was up by nearly 1% on NSE. 

Same-Day Scooter Deliveries with #HyperDelivery

In an effort to enhance customer convenience, Ola Electric has rolled out its #HyperDelivery service, enabling same-day delivery and registration of vehicles.

 Initially piloted in Bengaluru, the service is being expanded across India this quarter. Customers purchasing either online or through Ola Electric Stores can now ride home their fully registered scooters within hours.

Pricing Highlights Across Ola’s Portfolio

The company’s Gen 2 portfolio, which includes the S1 X in 2kWh, 3kWh, and 4kWh battery variants, now starts at ₹67,499, ₹83,999, and ₹90,999, respectively. The flagship S1 Pro starts at ₹1,11,999. Meanwhile, the Gen 3 portfolio sees the S1 Pro+ with 5.3kWh and 4kWh battery options priced at ₹1,88,200 and ₹1,48,999, respectively. 

The S1 Pro variants with 4kWh and 3kWh batteries are now available from ₹1,29,999 and ₹1,12,999. The S1 X range under the Gen 3 portfolio starts at ₹73,999 for the 2kWh model.

Roadster X Motorcycle Rolls Out

In addition to its scooter offers, Ola Electric recently introduced the first model from its Roadster X motorcycle series at its Futurefactory. The Roadster X features industry-first brake-by-wire technology with single ABS, alongside MoveOS 5 capabilities such as advanced regeneration, cruise control, and reverse mode. The motorcycle’s battery system boasts an IP67 waterproof and dust-proof rating, advanced wire bonding technology, and a serviceable Battery Management System (BMS) for easier maintenance.

Read More: Ola Electric Gets ₹73.7 Crore PLI-Auto Incentives. 

About Ola Electric Mobility Limited

Ola Electric Mobility Limited specialises in the vertical integration of electric vehicle technology and manufacturing. Its Futurefactory in Tamil Nadu, along with the Battery Innovation Centre (BIC) in Bengaluru, forms the backbone of the company’s EV development. Ola Electric’s direct-to-customer distribution model, comprising over 4,000 stores across India, positions it as the nation’s largest network of company-owned automotive experience centres.

Conclusion 

Ola Electric’s 72-Hour Rush offers a compelling opportunity for customers to celebrate Akshaya Tritiya with attractive discounts and same-day deliveries. The company continues to strengthen its position in the EV market with innovative products and enhanced customer experiences.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Aayush Wellness Share Price Hits Upper Circuit as Company Expands into Healthcare with Smart Health Kiosks

Aayush Wellness Limited, a company dedicated to promoting preventive healthcare, announced its foray into healthcare services with the launch of its first healthcare centre in Virar, Mumbai. The company has introduced Smart Health Kiosks, also referred to as Health ATMs, aimed at providing affordable diagnostic and telemedicine services to the masses.

As of 10:32 AM on April 29, 2025, the share price of Aayush Wellness was locked at its upper circuit limit of 2% following this announcement.

Launch of the First Centre in Mumbai

The newly launched healthcare centre in Virar marks the beginning of Aayush Wellness’s strategic expansion into the healthcare services segment. 

Drawing inspiration from the E-Sanjeevani National Telemedicine Service, the installed Health ATMs are designed to conduct a wide array of diagnostic tests within minutes, maintain digital health records, and offer teleconsultation services.

Read More: Colab Platforms Share Price Hits Upper Circuit After Launch of ₹250 Million Sports-Tech Accelerator  

Key Features of Aayush Wellness Health ATMs

The Health ATMs are capable of performing up to 59 tests, including blood sugar, urine analysis, haemoglobin levels, skin checks, eye tests, cancer risk assessments, and lipid profiles. These services are being offered at highly affordable rates, with the aim of making healthcare more accessible, particularly in rural and semi-urban areas.

Moreover, the Health ATMs are integrated with cloud connectivity and linked with the Ayushman Bharat Digital Mission, facilitating smart reporting and the maintenance of comprehensive digital health records.

Comprehensive Medical Support Services

Beyond diagnostics, the centres will also assist patients with:

  • Treatment Assistance: Online doctor consultations based on diagnostic reports, hospitalisation support at network or government hospitals, and appointment scheduling.

  • Government Schemes Integration: Helping patients benefit from various government health initiatives such as vaccination drives, insurance claim assistance, and health campaigns.

  • Mental Wellness and Home Care: Programmes for mental wellness support and coordination for nursing, physiotherapy, and home-based care.

  • Patient Transport Support: Assistance with transportation to and from healthcare appointments, enhancing accessibility for patients.

Investment and Future Plans

In the first phase of expansion, Aayush Wellness plans to invest up to ₹25 crore. The company has indicated that further investment will be evaluated based on business performance and future requirements.

The broader vision is to weave preventive healthcare into daily life, reducing reliance on reactive treatments and strengthening the company’s presence in India’s $372 billion healthcare market.

Conclusion

With the launch of Smart Health Kiosks and Medical Support Centres, Aayush Wellness Limited aims to bridge gaps in preventive healthcare accessibility. This strategic expansion underscores the company’s commitment to promoting early diagnosis and wellness across India.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.