Jai Kisan, a Mumbai-based fintech startup transforming rural financial services, has raised Rs 26.5 crore (about USD 3 million) in an extended Series B funding round. The funding was led by existing investors Mirae Asset Venture Investments, Unitary Fund, and Blume Ventures.
This marks a significant milestone in the company’s journey to empower India’s underserved rural and agricultural sectors.
The funding round was completed by a special resolution carried out by Jai Kisan’s board for issuing 980 compulsory cumulative preference shares (CCPS) at an issue price of Rs 2,70,133 per share.
Mirae Asset led the funding with an investment of Rs 12.5 crore, followed by Rs 12 crore from Unitary Fund and Rs 2 crore from Blume Ventures.
Established in 2017 by Adriel Maniego and Arjun Ahluwalia, Jai Kisan exists between rural commerce and financial services.
The innovative platforms of the company, including Jai Kisan Farmer and BharatKhata, have empowered 800,000 farmers and 100,000 rural enterprises across 11 states. These platforms aim to streamline financial transactions and enhance access to credit for individuals and small businesses in rural India.
Ministry of Statistics and Programme Implementation (MOSPI) launched a revamped Microdata Portal during the recently held Conference of State Government Ministers, marking a significant step in enhancing data accessibility, user experience, and the integration of advanced technologies in the Official Statistical System.
The new portal, which serves as a centralized repository for extensive statistical data collected from national surveys and economic census overcomes technological limitations faced by the previous portal.
In collaboration with the World Bank Technology Team, MOSPI has adopted a modern, scalable technology stack that not only ensures compliance with the latest security standards but also supports a responsive design and data access mechanism.
On this occasion the web site of National Statistical System Training Academy was also launched.
It will facilitate ease of access of information regarding capacity building initiative of the ministry by making them available at one place. The portal & the website have been developed in-house by Data Informatics & Innovation Division of the ministry.
MoSPI also presented a Proof of Concept (PoC) for an AI/ML-based classification tool designed to ease the use of the National Industrial Classification (NIC) in production of official statistics. The tool leverages natural language processing to allow stakeholders to enter text queries, subsequently suggesting the top five relevant NIC codes.
The launch of these portals and website along with innovative AI-driven tools underscores commitment of the ministry to leverage the latest technological advancements for data management leading to strengthening of the statistical system.
The Waqf (Amendment) Bill 2025 officially became a law as it got the assent of President Droupadi Murmu. President Droupadi Murmu also gave her assent to the Mussalman Wakf (Repeal) Bill, 2025.
Introduction
The Waqf (Amendment) Bill, 2025 aims to update the Waqf Act, 1995 to fix issues in the management of Waqf properties.
The proposed changes focus on:
Overcoming the shortcomings of the previous act and enhancing the efficiency of Waqf boards
Updating the definitions of waqf
Improving the registration process
Increasing the role of technology in managing Waqf records.
Prime Minister Narendra Modi inaugurated New Pamban Bridge - India’s first vertical lift sea bridge and flagged off the Rameswaram-Tambaram (Chennai) new train service, on the occasion of Ram Navami.
The state-of-the-art New Pamban Bridge connects Rameswaram to the mainland. With an investment exceeding Rs. 550 crore, the bridge spans 2.08 kilometers,
featuring 99 spans and a 72.5-meter vertical lift span. This lift can rise up to 17 meters, allowing larger ships to pass through while maintaining smooth train operations.
Built with stainless steel reinforcement, high-quality protective paint, and fully welded joints, the bridge offers amped up durability and requires minimal maintenance.
Designed to accommodate dual rail tracks, it’s also prepared to handle future demands. A special polysiloxane coating shields it from corrosion, ensuring its resilience in the harsh marine environment.
The original Pamban Bridge was constructed by British engineers in 1914.
This cantilever structure, with a Scherzer Rolling Lift span, connected Rameswaram Island to the mainland. For more than a century, it served as a vital link for pilgrims, tourists, and trade. However, the region’s corrosive marine conditions and growing transportation needs called for a more advanced solution.
In 2019, the government approved the construction of a replacement.
Rail Vikas Nigam Limited (RVNL), a Navratna PSU under the Ministry of Railways, had undertaken the construction of the new bridge.
Viral Davda, a professional with more than 20 years of experience, has been appointed as Deputy Chief Information Officer (CIO) at Bombay Stock Exchange Limited (BSE). This is a major career milestone for him as it signifies how BSE is committed to advancing its technology setup to keep pace with changing market needs.
Davda brings a wealth of experience from his tenure at the National Commodity & Derivatives Exchange Limited (NCDEX), where he held various senior leadership roles over 15 years. Recently, he was Chief Technology Officer (CTO) since April 2021.
Securitisation volumes in FY25 increased 24 percent to hit the highest level of Rs 2.35 trillion, a report said.
The volumes of securitisation, which involves passing on future receivables on a loan to address upfront liquidity needs, were lower in the fourth quarter at Rs 58,000 crore as against Rs 63,000 crore and Rs 70,000 crore recorded in the preceding two quarters.
The jump in FY25 volumes was driven by large deals originated by private sector banks and also non-bank finance companies, it said.
Largest private sector lender HDFC Bank has been very active on issuances in FY25 in order to improve its credit-deposit ratio after merging mortgage major parent HDFC into it.
The CRISIL report said number of issuers increased to 175 in FY25, from 165 entities in the year-ago period.
The share of securitisation by banks increased sharply to 26 per cent in FY25 from 5 per cent in FY24 as a few banks used securitisation to manage challenges arising from high credit-deposit ratios.
Among asset classes, vehicle loans including commercial vehicles and two-wheelers accounted for the highest share of securitisation volume at 47 per cent compared to 43 per cent in FY24.
The share of mortgage-backed loans increased to 22 per cent compared to 17 per cent in the preceding fiscal.
As the regulatory curb on a large gold loan originator was lifted only towards the end of second quarter, the share of gold-loan securitisation fell from 6 per cent to 2 per cent.
The asset quality stress in the microfinance sector also affected its securitisation volume, whose share declined to 11 per cent from 16 per cent in the last fiscal.
India Post has signed a Memorandum of Understanding (MoU) with Nippon India Mutual Fund to provide door-to-door KYC verification services. This partnership supports the government’s Jan Nivesh initiative and aims to make investing in mutual funds accessible to a broader segment of the population, particularly those in remote and underserved areas.
KYC compliance is mandatory for investing in mutual funds. Without completing this process, investors cannot participate in mutual fund schemes offered by any fund house. Once updated at one mutual fund house, KYC information is automatically reflected across all fund houses where investments are made.
Axis Bank, one of the largest private sector banks in India, has introduced an industry-first ‘In-App Mobile OTP’ feature on its mobile app, ‘open’, to enhance authentication security and protect customers from rising OTP-related frauds and scams.
This feature eliminates dependence on telecom networks by generating time-based one-time passwords (TOTP) directly within the app, instead of sending OTPs via SMS.
With cyber threats on the rise in the industry, particularly SIM swap and phishing attacks targeting SMS-based OTPs, Axis Bank’s In-App Mobile OTP provides a device-bound, time-sensitive alternative,
reducing the risk of fraud.
Users can use the Mobile OTP feature to log in into internet banking and can opt to use it for authenticating transactions as well. It is also accessible globally, functioning over internet, ensuring uninterrupted authentication even while travelling, especially for seafarers, frequent international travellers and NRIs.
World Health Day, celebrated on 7 April 2025, will kick off a year-long campaign on maternal and newborn health. The campaign, titled Healthy beginnings, hopeful futures, will urge governments and the health community to ramp up efforts to end preventable maternal and newborn deaths, and to prioritize women’s longer-term health and well-being.
In order to highlight the significance of maternal and newborn health, the World Health Organization (WHO) has selected the theme "Healthy Beginnings, Hopeful Futures" for 2025. In order to provide a solid basis for future generations, the subject emphasizes the necessity of better healthcare services.
Ambuj Chandna has been named Managing Director and Head of Consumer Banking Group, succeeding Prashant Joshi.
Santanu Mitra takes over as Managing Director and Country Head for Corporate Banking (Large and Midcap).
Both will report to Rajat Verma, Managing Director and CEO of DBS Bank India.
Chandna joins from Kotak Mahindra Bank, where he served as President and Head of Consumer Assets.
Before Kotak, he held senior roles at ING Vysya Bank, Fullerton Financial Holdings, and Citibank.
On the other hand, Mitra was previously with DBS Bank Singapore, where he led the Digital Economy Group and Institutional Banking.
He joined DBS in 2014 and played a key role in building the bank’s digital economy business focused on startups—an initiative now scaled across markets.
Women own 39.2 per cent of bank accounts in the country and the proportion is even higher at 42.2 per cent in rural areas, according to a government report. The Statistics and Programme Implementation Ministry (MoSPI) released the 26th edition of its publication titled "Women and Men in India 2024: Selected Indicators and Data".
The publication offers a comprehensive overview of the gender landscape in India, presenting selected indicators and data across key areas like population, education, health, economic participation, and decision-making, all sourced from various Ministries/ Departments/Organizations.
The International Day of Sport for Development and Peace (IDSDP) is annually celebrated on 6 April, to recognize the power of sport in fostering positive change, bridging barriers, and transcending boundaries.
In the lead up to the Second World Summit for Social Development in 2025,
IDSDP 2025 will focus on the theme of ‘Social Inclusion’, with a focus on the most marginalized groups as well as on age, gender, and race. This year’s theme aims to challenge stereotypes, promote equal opportunities, and enable inclusive sport for all, regardless of age, gender, or race.
The United Nations General Assembly adopts draft resolution A/72/L.31, designating 7 April as the International Day of Reflection on the 1994 Genocide against the Tutsi in Rwanda. It also recalls that during 1994 genocide against the Tutsi, Hutu and others who opposed it were also killed.
The resolution acknowledged that the Chamber of the International Criminal Tribunal for Rwanda issued a judicial notice concluding that it was of general knowledge that between the 6th of April and the 17th of July 1994, there was a genocide in Rwanda against the Tutsi people.
Also, it recalls that during the 1994 genocides against the Tusti, Hutu and others who opposed this act were also killed.
The genocide, which lasted for approximately 100 days, resulted in the deaths of an estimated 800,000 Tutsis and moderate Hutus.
