FSSAI is focusing on making regulations around health supplements and nutraceuticals more stringent. In recent times, pills, syrups, capsules, and other nutraceuticals have gotten popular because of the consumer getting more health conscious.
In September 2023, nutraceuti cals accounted for 31% of all billings at chemists, according to a survey of nearly 13,000 bills across 15 cities by research firm Pronto Consult. It said this indicated massive growth of 24% year-on-year in the segment
Digital lenders focusing on unsecured business loans are gaining traction. Even large private sector banks wants to work with these fintechs to reach consumers who were previously untapped.
The recent regulatory diktat to increase risk weightage ratio on unsecured consumer lending by 25 percentage points is pushing lenders to look for partnerships with fintechs in MSME lending.
Peak XV is establishing a new permanent capital vehicle (PCV) backed by its internal pool of capital. This PCV will enable the firm’s partners and senior leaders to make investments across different regions, strategies, and sectors, including public market companies and venture funds in other regions.
The Peak XV Anchor Fund, acting as an internal balance sheet, will commence investing in the third quarter of 2024, starting with a small size that will grow over time. The PCV allows the firm to be a significant investor in its own funds, fostering alignment with institutional limited partners.
Tata Power Solar Systems Limited (TPSSL), a subsidiary of Tata Power Renewable Energy Ltd, has completed India’s largest solar and battery energy storage system in Rajnandgaon, Chhattisgarh.
The project, secured from the Solar Energy Corporation of India (SECI) at ₹945 crore, comprises a 100 MW solar photovoltaic project and a 120 MWh utility-scale battery energy storage system.
Despite challenges like unsuitable soil conditions and a remote location, the project is expected to generate 243.53 million units of energy annually and reduce carbon emissions by 4.87 million tonnes over 25 years, aligning with India’s renewable energy goals.
CCI has approved the merger of fintech firm Slice with North East Small Finance Bank (NESFB). RBI had previously given a no-objection certificate in October for the merger, making Slice the first fintech unicorn to become a Small Finance Bank (SFB).
The merger aims to integrate technology with grassroots financial inclusion, allowing the new SFB Slice to raise deposits from the public, reducing its cost of funds for lending. The merged entity will migrate prepaid accounts into full-service banking accounts post-merger.