Fintech firm BASIC Home Loan gets $3.5 mn from Series A funding

28 Oct 2021 CW Team

Fintech firm BASIC Home Loans has raised $3.5 million in Series A funding led by Venture Catalysts and Gruhas Proptech, Earlsfield Capital and Good Capital. The other companies that participated in the round include Haldiram's Lets Venture, led by Anupam Mittal, promoters Sapient Wealth, Amit Nanavati, Dhruv Dhanraj Bahl, Parag Shah, Alex Babu and Alex Lin.

Omaxe, Rustomjee Group and Thakker Developers also invested in the company.

Co-founder and CEO of BASIC, Atul Monga, said that the company has a strong network in affordable housing and 15 cities in just one year. It has strengthened its distribution over 40 cities, including digitization of credit processes in the next phase.

The company said that it had disbursed Rs 400 crore of loans in over 15 cities and as more than 25 banking partners.

It aims to disburse Rs 6,000 crore loans for households within the next 18 months. It plans to disburse a monthly loan of Rs 200 crore and hire over 300 people by March 2022.

BASIC said that about 25% of the loan amount is with Pradhan Mantri Awas Yojna (PMAY) applications and 30% for the construction of new houses.

Image Source

Also read: Alliance Group gets Rs 165 cr from Kotak for realty project in Chennai

Infrastructure Urban

13 Mar 2026

Implementation Status of Jal Jeevan Mission

Since August 2019 the Government has implemented Jal Jeevan Mission to provide assured potable water through household tap connections in rural India. At the start of the mission only 32.3 million (mn) rural households, representing 16.7 per cent, were reported to have tap water connections. States and union territories have reported that 125.8 mn additional rural households have since been provided with tap connections. As a result, of about 193.6 mn rural households roughly 158.2 mn, or 81.71 per cent, are reported to have tap water supply at home.\n\nThe State, district and village level st..

Jal Jeevan Mission Reaches Eighty One Per Cent Rural Coverage

The Government reported substantial progress under the Jal Jeevan Mission, launched in August 2019 to provide tap water to every rural household. At launch only 32.3 million (mn) rural households had tap connections and states and Union territories reported provision of 125.8 mn additional households by March 2026. Consequently, out of about 193.6 mn rural households around 158.2 mn, or 81.71 per cent, are reported to have tap water at home. The Finance Minister announced extension of the mission until 2028 in the 2025-26 budget speech. The Swachh Bharat Mission Grameen, launched in October 20..

Empowering Local Governance for Sustainable Rural Water Supply

The Ministry of Jal Shakti has aligned the Jal Jeevan Mission (JJM) with the 73rd Amendment to strengthen village level planning and community ownership of water supply. Gram Panchayats, village water and sanitation committees and Pani Samitis are to plan, implement, manage and maintain piped water systems, with gram sabha processes formalising handover and oversight. Implementation support agencies including non government organisations, community based organisations and self help groups have been empanelled to train local committees and promote women participation. Under JJM, the department ..