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The North Eastern Development Finance Corporation Ltd. (NEDFI) reported a solid financial performance for FY 2025–26, led by higher interest income and steady profitability. Gross income rose 4.40% to Rs. 270.82 crore, while interest income climbed 9.73% to Rs. 214.94 crore, underscoring resilient lending and income generation.
Bengaluru-based startup Whizzo is in discussions to raise about $26 million in a Series B round that could be co-led by Aavishkaar Capital and Bertelsmann, according to people familiar with the matter. The proposed financing would mark a significant step-up for the company as it seeks to deepen its operating footprint and strengthen its balance sheet in a competitive startup funding environment.
Nexedge Capital has appointed Apurva Sahijwani, formerly of Avendus Wealth Management, as co-founder in a move aimed at strengthening its leadership bench and deepening its reach in India’s wealth management market. The firm said Sahijwani’s experience will support its expansion as it scales across 11 cities and serves more than 1,300 ultra-high-net-worth individuals and families.
India’s balance of payments recorded a sharp surplus of $45.4 billion in August, reversing a $5.6 billion deficit a year earlier even as the current account remained in deficit. The improvement was driven by stronger net transfers, including remittances, and a surge in capital-account inflows, aided by central bank measures that encouraged foreign-exchange deposits.
ANRF CEO Shivkumar Kalyanaraman has outlined a patient-capital framework aimed at accelerating India’s research and development intensity toward 3% of GDP, arguing that the country cannot afford a slow, decades-long climb. The model combines private investment, open intellectual property licensing and national mission programmes to convert research into scalable innovation and commercial outcomes.
Indian banks have asked the Reserve Bank of India for detailed guidance on how to implement its new currency-supporting measures, underscoring uncertainty over reserve calculations, liquidity treatment and customer pricing. Lenders are seeking clarity on how the foreign exchange risk reserve should be computed, whether related balances qualify as high-quality liquid assets, and how exposure limits will be assessed in practice.
Bengaluru-based speciality chemicals startup NuSynth Technologies has raised ₹36.5 crore in a seed funding round co-led by Avaana Capital and Shastra VC, marking a notable early bet on India’s deep-tech manufacturing and materials innovation stack. The capital is expected to support product development, scale-up efforts, and commercial expansion as the company targets industrial customers seeking more sustainable and performance-driven chemical solutions.
Day two of TechSparks 2026 is set to sharpen the conversation around how India’s startup economy is adapting to a new cycle of AI-led product building, capital discipline and deeptech ambition. With sessions featuring leaders from Stripe, Swiggy and Peak XV, the agenda reflects a market where founders are being pushed to build faster, spend smarter and think beyond consumer internet playbooks.
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