Shivalik Bank Raises Rs 1 Billion Led By SMBC Asia Rising Fund
Shivalik Small Finance Bank (SSFB) has raised Rs 1 billion in fresh equity funding, led by SMBC Asia Rising Fund, the corporate venture capital arm of Japan’s Sumitomo Mitsui Banking Corporation (SMBC). Existing investors Accel, Quona Capital, Lightspeed and Sorin Investments also participated in the round.The bank said the infusion will be used to strengthen its technology infrastructure, expand its product, engineering and operations teams, and scale its banking-as-a-service (BaaS) platform. SSFB aims to deepen its reach among India’s underserved MSME and retail segments, particularly in..
Maharashtra Approves Seat Subsidy For Solapur Air Routes
In a move to enhance regional air connectivity, the Maharashtra government has approved a subsidy of Rs 3,240 per seat on flights operating between Solapur–Mumbai and Solapur–Pune. The scheme, which will run for one year, is designed to fully cover the operating cost of the services and will be aligned with the Centre’s UDAN (Ude Desh Ka Aam Naagrik) regional connectivity programme.Star Air, which currently operates flights on these routes, will be the beneficiary of this government support. The state has allocated Rs 179.7 million to promote air services between Solapur and Mumbai, and ..
Odisha Approves Incentives For Bhubaneswar Airport MRO Hub
The Odisha Cabinet has approved additional incentives, beyond the provisions of the Industrial Policy Resolution (IPR) 2022, for the establishment of a Maintenance, Repair and Overhaul (MRO) facility at Biju Patnaik International Airport (BPIA) in Bhubaneswar. The proposal, brought by the Commerce and Transport Department, was cleared in a cabinet meeting chaired by Chief Minister Mohan Charan Majhi.The facility will be the first of its kind in Eastern India and is expected to attract private investment while strengthening Odisha’s aviation infrastructure. It also aligns with the state’s B..
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