| | FEBRUARY 20248In a groundbreaking initiative aimed at democratizing access to Fintech education and resources, the Indian Institute of Management-Lucknow's Enterprise Incubation Centre (IIML EIC) and the Reserve Bank Innovation Hub (RBIH) are joining forces to launch the UP Fintech Futurepreneurs Bootcamp. This collaborative effort, in association with StartinUP, is set to kick off in six cities across Uttar Pradesh on February 8.The bootcamp, strategically organized in Gorakhpur, Varanasi, Kanpur, Lucknow, Meerut, and Noida, seeks to unlock the potential for growth and development within the state. Aspiring entrepreneurs in the Fintech sector will benefit from an immersive learning experience designed to equip them with the necessary skills and knowledge to navigate the dynamic landscape of financial technology.A key feature of the event will be an exclusive Master Class on design thinking with a significant emphasis on customer-centricity. Workshops will also cover startup-centric government policies and national-level programs available for entrepreneurs. Professor Anadi Saran Pande, the Faculty-in-charge at IIML EIC, expressed enthusiasm about the initiative, stating, "This is a testament to our commitment to nurturing the entrepreneurial spirit in diverse regions. We believe that empowering Fintech entrepreneurs will contribute to the growth and innovation of the financial technology sector in UP".The UP Fintech Futurepreneurs Bootcamp is poised to foster the growth of innovative startups, providing a platform for entrepreneurs to connect, learn, and contribute to the burgeoning Fintech landscape in Uttar Pradesh. This collaborative effort reflects a strategic partnership between academia and the industry, signaling a commitment to fostering innovation and entrepreneurship in the realm of financial technology.landscape, makes it challenging to keep up, even for people firmly embedded within these industries. Future. Industry is a premier showcase of the latest and most powerful trends and technologies in today's market," added Scapa. HDFC Bank, India's largest private lender in terms of market capitalization, has successfully secured $300 million through its inaugural sustainable finance bond denominated in dollars. The bank priced the three-year sustainability bond with a yield of 5.196 percent, representing a spread of 95 basis points (bps) over the three-year U.S. Treasury yield. Notably, this spread is considerably narrower than the initially indicated 125-bps margin.Arup Rakshit, the group head of treasury at HDFC Bank, stated that the proceeds from the sustainable finance bonds would be prioritized for lending in areas such as electric vehicles, small and medium enterprises, and affordable housing. Additionally, the bank successfully raised $450 million through senior unsecured five-year dollar bonds featuring a coupon of 5.180 percent. These bonds were priced at a spread of 108 basis points (bps) over the five-year U.S. yield, demonstrating a reduction from the initial guidance of 140 bps.HDFC Bank plans to utilize the funds generated from the five-year notes for the financing and expansion of its foreign branches and subsidiaries, as well as for general corporate purposes. The Regulation-S dollar notes are set to receive a Baa3 rating from Moody's and a BBB- rating from S&P Ratings. These notes will be issued through the bank's Gujarat International Finance Tech City branch and listed on the India International Exchange. The joint global coordinators and lead managers for this issuance include Barclays, Bank of America, JP Morgan, MUFG, and Standard Chartered. IIM-LUCKNOW & RBI COLLABORATE FOR UP FINTECH BOOTCAMPHDFC BANK RAISES $300 MILLION IN MAIDEN SUSTAINABLE FINANCE BONDIN FOCUSIN FOCUS
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