Latest News | Business Briefs *Nabfoundation, Central Bank of India Tie-up to Fund SHGs

Mumbai, Jan 7 (PTI) State-owned Central Bank of India and Nabfoundation have signed an MoU to provide funds to self-help groups (SHGs) for setting up sanitary napkin manufacturing units.

Under the MoU, Central Bank of India will provide working capital to all the SHGs which have an account with it to undertake this project, Nabfoundation said in a release.

The funds will be provided collateral free and at a cheaper rate, it said.

The project would see Nabard providing a total support of nearly Rs 50 crore over a period of next three years. The initiative will be carried out in a phased manner to cover 700 districts in the country.                              

**** *Phi Commerce raises $4 mn from BEENEXT, YAN

Digital payments company Phi Commerce on Thursday said it has raised USD 4 million in funding led by BEENEXT, a Singapore based Venture capital firm.    The Series A funding round also saw participation from Yatra Angel Network (YAN) managed by Abhishant Pant, a veteran in the Indian fintech space.    The fresh round will be utilised to bolster its product offering, expand in existing markets and enter new geographies, the company said in a release.

**** *BMW India to open bookings for 3 Series Gran Limousine from Jan 11

German luxury car maker BMW India on Thursday said the new 3 Series Gran Limousine will be open for pre-launch bookings from January 11.

The sports sedan with longer wheelbase is scheduled to be launched in the country on January 21.

As an early-bird benefit, the model can be booked online at an initial advance payment of Rs 50,000, BMW India said in a statement.

With a longer wheelbase, enhanced space, among others, the new BMW 3 Series Gran Limousine will be the longest sedan in its segment, BMW India said. 

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*instrucko partners with EtonX

Edtech company instrucko on Thursday said it has partnered with EtonX, an online subsidiary of Eton College, to enable learners across India to get one step closer to the world's leading independent schools.

instrucko's global curriculum is based on live one-to-one lessons for learners between 3-12 years of age, the company said.

“Our partnership with EtonX can enhance our learners' journey to a much greater extent through seeing them succeed from the ages of 3 to 18 years. Once learners hit their teens, we have specialised and certified programmes in public speaking, critical thinking, entrepreneurship etc. taught by professors from the Eton College,” instrucko CEO Devvaki Aggarwal said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)