SBI Launches 'MSME Sahaj' for Digital Invoice Financing

Mumbai, Jul 1 (PTI) SBI, the country's largest lender, on Monday launched an end-to-end digital invoice financing for small businesses.

Christened as 'MSME Sahaj', the product will have a turnaround time of less than 15 minutes, as per a statement.









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Wify raises Rs 25 crore
* City-based startup Wify on Monday said it has raised Rs 25 crore in a funding round led by Mount Judi Ventures and Capria Ventures.

The company, which is into the home furnishings installations space, will use the newly infused funds to penetrate deeper into existing categories with more value-added services, expand into new categories, and accelerate capacity building, software, and technology enhancements, a statement said.








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Axis Bank partners with Piramal Finance to offer loans
* Axis Bank on Monday announced a co-lending partnership with Piramal Finance to offer loans to middle- and low-income segment borrowers with a focus on rural and semi-urban regions.

The partnership will leverage the financial expertise of Axis Bank and the loan processing technology of Piramal Finance to assess the credit profile of borrowers and provide them loans at competitive interest rates, according to a statement.








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Rushabh Gandhi takes changes as MD, CEO of Indiafirst Life Insurance
* Indiafirst Life Insurance on Monday said Rushabh Gandhi has taken charge as its managing director and chief executive officer.

Earlier, he served as the deputy chief executive of the company, whose shareholders include state-owned lenders Bank of Baroda, Union Bank of India and Carmel Point Investments India, a statement said.








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Natural Environment Solutions sets up 5 MW capacity data centre in Pune
* Natural Environment Solutions on Monday announced that it is setting up a 5 MW capacity data centre in Pune's Hinjewadi.

The company is aiming to have a 100 MW capacity across India in the next three years, capitalising on the booming digital infrastructure and regulatory support for such investments, according to a statement.








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Grihum Housing Finance ties up with Central Bank of India to offer loans
* Grihum Housing Finance, formerly known as Poonawalla Housing Finance, on Monday announced a co-lending agreement with Central Bank of India to offer affordable loans secured against properties (LAP) to Micro, Small and Medium Enterprises (MSMEs) customers.

The collaboration aims to combine their respective strengths to boost the prospects of MSMEs, as per a statement.








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ICICI Lombard launches 'Elevate'
* General insurer ICICI Lombard on Monday launched a new product offering personalised solutions, including an infinite sum assured to address concerns of limited coverage and sum insured.

Christened as 'Elevate', the new product is powered by artificial intelligence and other benefits include infinite claim amount and reset benefits, a statement said.