Tata Capital rolls out Version 2.0 Digital Platform for MSMEs
Tata Capital, the financial services arm of the Tata Group has rolled out Version 2.0 digital platform to provide faster and easier loans exclusively for MSMEs. Customers can now use this enhanced digital platform to avail working capital loans upto Rs 2 crore within 48 hours with minimal documentation. Loans are available across various categories i.e. channel finance, sales invoice discounting and equipment finance.
Tata Capital ‘s Version 2.0 digital platform for MSMEs offers a series of value added features which are:
- An automated credit scoring engine across all loan products
- Digital underwriting capabilities using over 1000 data points
- Seamless integration with a host of third-party information sources such as Udyog Aadhar, PAN, GST, ITR, CIN, bureau data, bank statement analysis amongst others, to eliminate data entry and enable immediate decisions.
L&T creates Advanced Metering Infra Solutions fo 5 lakh smart meters for EESL
L&T’s Smart World & Communication BU, which addresses safe, smart and communication solutions, has been engaged by Energy Efficiency Services Limited (EESL), to roll out the largest Advanced Metering Infrastructure solutions implementation comprising over 5 million Smart meters across Haryana, Uttar Pradesh and NDMC. The project aims to help discoms to improve their billing efficiency, energy savings and empower consumers to save and manage their energy consumption by providing real time data on energy costs.
Together, L&T and EESL have already successfully implemented the AMI system for more than 500,000 smart meters including integration and commissioning of 50,000 smart meters for NDMC. The NDMC Smart Meter AMI Solutions Project was inaugurated earlier this year by Shri Raj Kumar Singh, Power and Renewable Energy Minister and is expected to add total annual savings of Rs. 12.47 crores to NDMC, which includes revenue due to improvement in billing efficiency. The scope of work involves integration of smart meters with the Advanced Metering Infrastructure (AMI) solution system including: Cloud based Head End System (HES) & Meter Data Management System (MDMS), Web application with updated on-line data of consumers, mobile app and advanced analytics.
NPCI presents ‘The FinTech Yatra 2019’
National Payments Corporation of India (NPCI) said that it has partnered with The Fintech Meetup for the second edition of ‘The FinTech Yatra’ – a 10,000 km long epic road journey that aims to identify, understand and catalyse start-ups in the Fintech ecosystem in India. ‘The FinTech Yatra’ focuses on understanding the Indian Fintech Ecosystem and identifying the challenges faced by the fintechs and the potential opportunities for collaboration. The Fintech Yatra is visiting 19+ cities including Nashik, Chandigarh, Lucknow and beyond to facilitate over 1000 start-ups in building the fintech ecosystem. Some of the cities to be further covered by the ‘The Fintech Yatra’ are Mumbai, Pune, Hyderabad, Bengaluru, Delhi, Cochin, Trivandrum, Chennai, Bhubaneswar, Kolkata, Jaipur, Indore and Ahmedabad.
