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Business Economy


i-lend.in signs pact with Cove Venture

i-lend.in signs pact with Cove Venture

Hyderabad, Nov 30 (UNI) City-based i-lend.in, one of the best performing company in the nascent Peer 2 Peer (P2P)/ Alternate Finance and UK-based Cove Venture entered into a strategic agreement. Under the strategic agreement, both firms will apply Artificial Intelligence, Deep and Machine Learning algorithms in the Indian Alternate Finance & P2P Lending industry to ensure more people in urban and rural India get access to credit at moderate interest. The Indian Alternate Finance and P2P Lending industry expected to grow over USD 20 Billion business in the next few years and the sector is experiencing rapid growth presently. The models will help improve the predictability by analyzing online, social and financial behaviour thereby enabling I-lend with significant accuracy. This predictability will help in pricing loans, opening up new segments and deliver better financial performance. Getting exclusive access to i-lend data helps Cove Ventures build cutting edge solutions across the fast growing finance eco-system in India. “This tie up will help building predictive, qualitative credit and e-KYC models along with our existing algorithms. It also enables us to better address financial inclusion in the urban space and bring a higher degree of transparency into loaning and lending operations and rationalise high interest rates being charged, i-lend Founder Shankar Vaddadyi told media here today. Cove Venture Founder and CEO Madhava Turumellae said “This partnership will improve our footprint in India and help us get excellent traction in the fast growing Indian financial space both from a conventional and new wave companies like I-lend. Exclusivity is critical because of the nature of the technologies and data involved and confident that these models will give a flip to the demonetization,” he added. UNI VV CS 1717

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Telangana Govt conducts Diplomatic Outreach Programme to promote State as Investment Destination

19 Aug 2022 | 8:45 PM

Hyderabad, Aug 19 (UNI) Telangana Minister IT and Industrues K.T. Rama Rao (known as KTR) conducted a ‘Diplomatic Outreach Programme’ at T-Hub 2.0 facility, here on Friday to promote the state as an investment destination. Ambassadors, Diplomats, Consul Generals, Honorary Consul Generals, High Commissioners, Trade Commissioners from about 50 Countries participated in this event.

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19 Aug 2022 | 8:06 PM

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Kottayam-Kochi Rubber Market Rates

19 Aug 2022 | 5:40 PM

Kottayam, Aug 19 (UNI) Following were the Rubber Market rates announced by the Rubber Board here Friday per quintal
KOTTAYAM
RSS FOUR: 16200
RSS FIVE : 15600
ISNR TWENTY: 15900
SIXTY PERCENT LATEX: 10675
KOCHI
RSS FOUR : 16200
RSS FIVE : 15600
INTERNATIOAL RATES (BANGKOK)
RSS One : 13655
RSS Two : 13520
RSS Three:13397
RSS Four : 13330
RSS Five : 13229
KUALALUMPUR
SMR TWENTY : 11699($146.85)
SIXTY PERCENT LATEX : 9131($114.60)
UNI PA SHK1740.

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Flipkart inks MoU with IIMR to enable market access for FPOs & SHGs

19 Aug 2022 | 4:22 PM

Hyderabad, Aug 19 (UNI) Flipkart, India's homegrown e-commerce marketplace, on Friday signed a Memorandum of Understanding (MoU) with the Indian Institute of Millets Research (IIMR) to enable market access for Farmer Producer Organizations (FPOs) and Self-Help Groups (SHGs).

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Rupee falls 10 paise against USD

19 Aug 2022 | 4:15 PM

Mumbai, Aug 19 (UNI) The Rupee on Friday slipped 10 paise to close negative at 79.77 against the USD on rising demand for the US Dollar from bankers and exporters, dealers at the Foreign Exchange said.

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