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<ul><li>Reserve Bank of India’s (<keyword id="30067" type="General" weightage="100" keywordseo="rbi" source="Orion">RBI</keyword>) deputy governor M Rajeshwar Rao on Friday outlined several measures in the central bank’s revamped <keyword id="113684" type="General" weightage="20" keywordseo="Microfinance" source="Orion">microfinance</keyword> framework to safeguard customers. </li><li>RBI had announced a revamped regulatory framework for <keyword id="164768" type="General" weightage="20" keywordseo="Microfinance-Institutions" source="Orion">microfinance institutions</keyword> in March this year. </li><li>From transparent pricing of loans to preventing intimidation of borrowers, here are the key aspects of the revamped guidelines for microfinance institutions. </li></ul>Customer protection is the ‘guiding light’ of the central bank’s revamped microfinance regulations that came into effect in April, Reserve Bank of India’s deputy governor M Rajeshwar Rao said on Friday. Rao said that with the new regulations the RBI has moved from a rule-based approach to a principle-based one in order to expand the availability of credit to the last mile, while improving the transparency and competition to foster a healthy environment. In his keynote address at the India Microfinance Review organised by industry body MFIN, the deputy governor said the measures were intended to ensure customer protection, which was the “guiding light while revamping the regulatory regime for the microfinance sector”. RBI’s revamped regulatory framework for microfinance institutions also relaxed norms for household income and repayment criteria to address the growing needs of borrowers. For instance, the limit on maximum annual household income to avail credit from microfinance institutions was ₹1.25 lakh in rural areas, while in urban and semi-urban areas it was ₹2 lakh. This has now been increased to ₹3 lakh for all the three areas. Rao, in his address, highlighted the following key new customer protection measures that are part of RBI’s revamped microfinance framework. <cmsannotation type="cmsannotation" annotationid="Transparent pricing of loans" comment="subhead" text="Transparent pricing of loans">Transparent pricing of loans</cmsannotation> Under the revamped framework, microfinance institutions will have to ensure transparency in the pricing of loans by clearly disclosing the methodology used in calculation of the effective interest rate. Effective interest rate includes the impact of compounding, showing exactly how much a borrower is paying in the form of interest on a loan. Rao said that this measure would not only help the borrower understand the total cost of a loan, but also help in comparing the cost amongst lenders to choose the best option. <cmsannotation type="cmsannotation" annotationid="Policies for conduct of employees" comment="subhead" text="Policies for conduct of employees">Policies for conduct of employees</cmsannotation> Rao also underlined that the boards of microfinance institutions should approve policies for the conduct of employees, including their recruitment, training and conduct. These policies should also include programmes to train employees in interacting with customers and link it with their compensation matrix, he said. <cmsannotation type="cmsannotation" annotationid="No coercive recovery measures against borrowers" comment="subhead" text="No coercive recovery measures against borrowers">No coercive recovery measures against borrowers</cmsannotation> Lastly, the updated guidelines also require the microfinance institutions, or the recovery agencies outsourced by them, to not indulge in coercive recovery measures. This includes preventing recovery agents from intimidating borrowers or calling them before 8 am or after 7 pm. The guidelines also require the boards of these institutions to lay down policies for grievance redressal mechanisms so that customer complaints can be addressed appropriately. “While we acknowledge the rights of the lenders to recover overdue loans, I would like to make it clear in no uncertain terms that the Reserve Bank has zero tolerance for misconduct towards the borrowers,” Rao said. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/meta-expected-to-announce-massive-layoffs-this-week-that-could-impact-thousand-as-tech-bloodbath-continues-wsj/articleshow/95343558.cms">Meta expected to announce massive layoffs this week that could impact thousand as tech bloodbath continues: WSJ</a> <a href="https://www.businessinsider.in/stock-market/news/sensex-rises-over-360-pts-to-scale-61k-level-in-early-trade-nifty-above-18220/articleshow/95348184.cms">Sensex rises over 360 pts to scale 61k-level in early trade; Nifty above 18,220</a> <a href="https://www.businessinsider.in/tech/news/twitter-backtracks-elon-musks-platform-will-delay-its-paid-blue-check-verification-plan-until-after-midterms-nyt/articleshow/95343175.cms">Twitter backtracks: Elon Musk's platform will delay its paid blue check verification plan until after midterms: NYT</a>

Customer protection 'guiding light' of revamped microfinance regulations, says RBI deputy governor

PE inflows into Mumbai realty drop sharply, NCR emerges as top favourite in 9MFY23: Anarock

<keyword id="141555" type="General" weightage="20" keywordseo="Securitisation" source="Orion">Securitisation</keyword> volume in <keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword> jumped 42 per cent on-year and past the Rs 1.15 lakh crore mark in the first nine months of this <keyword id="46627" type="General" weightage="20" keywordseo="fiscal" source="Orion">fiscal</keyword>, said credit rating agency CRISIL Ratings Ltd. According to CRISIL Ratings, the market activity in the quarter that ended December 2022 continued the momentum witnessed in April to September period. The activity was broad-based, with wider participation, as the number of originators crossed 120 compared with about 100 in the preceding fiscal. Among new originators in the securitised market were small finance banks that have increased their securitised issuances in recent quarters and added this mechanism as one of their routes to access incremental liquidity. Growth in the non-mortgage space was led by commercial vehicle (31 per cent) and microfinance (14 per cent) loans, CRISIL Ratings said. The credit rating agency said the unsecured loans, including personal and business loans, also continued to draw investor attention, comprising seven per cent of the securitised assets compared with three per cent in fiscal 2022. The share of property-backed loans, though, declined to about 38 per cent from about 43 per cent. Senior Director and Deputy Chief Ratings Officer <keyword id="198711" type="General" weightage="80" keywordseo="krishnan-sitaraman" source="Orion">Krishnan Sitaraman</keyword> said: "The securitisation market is continuing to regain its mojo post the pandemic, propped up by a resurgence in microfinance and increasing preference among investors for vehicle loans. Additionally, personal and business loans seem to be gaining greater acceptance, bringing diversity to the bouquet of asset classes being securitised." According to the report, direct assignment (DA) transactions accounted for 60 per cent of the nine-month transaction quantum with this route being utilised for the sell-down of most mortgage and gold loan pools. Correspondingly, the share of pass-through certificates (PTCs) was at 40 per cent, down marginally from 41 per cent a year ago. On the investor side, foreign banks and multinational institutions (about 14 per cent) were more active, given their preference for investing in PTCs backed by loans advanced to economically weaker sections. Private (53 per cent) and public sector (25 per cent) banks remained the largest investor groups, while the share of nonbanks remained low with mutual funds also making sporadic investments. The public sector banks have invested in PTC-backed pools comprising a vehicle, microfinance, and unsecured business loan receivables in recent quarters, the report said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/hdfc-bank-wipro-dmart-among-stocks-in-focus/articleshow/97018162.cms">Sensex, Nifty50 end lower led by losses in metals, auto, banks</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/paytm-payments-bank-gets-final-nod-from-rbi-to-operate-bharat-bill-payment-system-services/articleshow/97032913.cms">Paytm Payments Bank gets final nod from RBI to operate Bharat Bill Payment System services</a>

Securitisation volume in India jumps 42% past ₹1.15 lakh cr mark in 9MFY23: Crisil

<keyword id="15492" type="CITY" weightage="100" keywordseo="Vodafone">Vodafone</keyword>, as it planning to provide customized communication services, is in talks with a state election commission. The services will be including a monitoring system that would allow the election commissioner to see as many as 22,000 polling booths at one shot, as India's second largest telco bets on its enterprise business to drive growth. 
 The talks include way to facilitate payments to all volunteers directly via Vodafone's mobile wallet, Nick Gliddon, director for business services at <keyword id="6354923" type="COMPANY" weightage="20" keywordseo="Vodafone-India">Vodafone India</keyword>, told ET. 
 
This move comes along as Vodafone is looking to beef up its enterprise services at a time when its retail mobile business is under intense competitive pressure after the entry of Reliance Jio Infocomm. 
 Vodafone has worked with the election commission during recent polls in certain placesand now is also tying up with <keyword id="113684" type="COMPANY" weightage="20" keywordseo="microfinance">microfinance</keyword> firms and startups. 
 
Vodafone Business Services contributed 16.4% of Vodafone India revenues in the first half of the current fiscal year. Its enterprise vertical is growing at twice the rate of the industry. 
 
Experts said this vertical would be a key growth driver for the industry. "Mobility business is reshaping itself in the midst of slower customer additions, dipping data margins, challenges from OTT (over-the-top) players among others. 
 “Enterprise business is expected to be a significant growth contributor in the future,” Jaideep Ghosh, chief operating officer for management consulting at <keyword id="50041" type="CITY" weightage="20" keywordseo="KPMG">KPMG</keyword> in India, told ET. 
 Gliddon said the company has tied up with Bharat Financial Inclusion (erstwhile SKS Microfinance) and Muthoot <keyword id="6422614" type="COMPANY" weightage="20" keywordseo="MFI">MFI</keyword> for disbursement, collection and digitisation of loans. 
 
"The digital disbursement and collection through M-Pesa has enabled speedy micro-loan disbursement by MFIs (microfinance institutions) and weekly/monthly collection of micro-EMI payments by borrowers. Digitisation has also eliminated cash carrying and cashtransit risk for the MFIs. Vodafone launched its MFI pilot in June 2014,” he told ET. 
 Since then, it has expanded operations to eight states. Jaipur Rugs, the country's largest rug manufacturer, now pays artisans via MPesa mobile wallets. Vodafone also works with <keyword id="4009760" type="UNKNOWN" weightage="20" keywordseo="water-health-india">Water-Health India</keyword> to collect cash from across 450 locations in <keyword id="37102" type="COMPANY" weightage="20" keywordseo="Andhra-Pradesh">Andhra Pradesh</keyword>, Telangana, Gujarat, Karnataka and <keyword id="20154" type="ORGANIZATION" weightage="20" keywordseo="tamil-nadu">Tamil Nadu</keyword>.

Vodafone is depending on its enterprise business to drive growth

If you are an <keyword id="6354427" type="CITY" weightage="60" keywordseo="Apple">Apple</keyword> product user you have certainly had your cable woes. And we know that there isn’t much Apple is doing about it so you are either stuck with the same super sensitive cord or you go wireless! We caught up with <keyword id="43706" type="COMPANY" weightage="60" keywordseo="Honeywell">Honeywell</keyword>, a technology and manufacturing company as they are all set to sell their electronic essentials in India, to understand what really is up with the Apple cables. 
 So here’s the deal. There are two main reasons why your <keyword id="6354606" type="COMPANY" weightage="100" keywordseo="iPhone">iPhone</keyword> cable becomes an eye sore in a matter of days. First is pretty evident, it’s the material. Apple uses a plastic cable which is also comparatively a lot thinner than other cables in the market and plastic is easy to tear. Other key issue with the Apple cable is the two ends of the cable where it only has a single mould on the outside of the wire which makes it prone to damage and that’s why you see the ends of the wire tearing from inside. For a sturdy cable there has to be a reverse mould on the inside of the wire as well. And of course the colour white doesn't help. 
 The iPhone cables are surely a big unsaid pain point for the consumers. And how many times can you replace the cord. What happens next is one tends to buy a fake cable that are available everywhere at a fraction of the cost but those cables can do more harm than good for your expensive iPhones. And this lack of awareness is what the technology product distributor, <keyword id="3677017" type="UNKNOWN" weightage="20" keywordseo="secure-connection">Secure Connection</keyword> thinks is the biggest challenge in India. The company feels it’s a down market for electronic essentials in India right now and therefore also the perfect time to enter the market, Mohit Anand, CEO, Secure Connection said, “We feel the market has a huge gap for a branded product line to emerge in the category and there is considerable consumer angst that comes through in our research where people end up buying non branded products and experience problems with their devices”. The new range of products from Honeywell includes cables, car chargers, adapters, surge protectors that are now available in India. In the next one month the company is looking to expand its online and offline presence in India by entering 30 cities with 5000 stores all across the country. 
 And yes, Honeywell has the lightning cord for iPhones. These cables are <keyword id="6422614" type="COMPANY" weightage="20" keywordseo="MFI">MFI</keyword> (made for iPhone) certified, comes in multiple materials including silk and cotton braided, with a three-year warranty, and the starting price is Rs. 399. So unless Apple innovates, you can certainly give it a go. 
 
<a href="http://www.macworld.co.uk/">Photo Credit</a>

Here's why your iPhone cable breaks and there’s no need to spend on them anymore

<ul class="summary-list"><li>You should be careful about how you charge your <a href="https://www.businessinsider.com/apple-iphone-15-event-announcements-usb-c-titanium-pro-watches-2023-9">iPhone 15.</a></li><li>Using low-quality USB-C chargers could make it easier to accidentally fry your phone. </li></ul>Buyers of the iPhone 15 should beware: using the wrong <a href="https://www.businessinsider.com/everything-wrong-usb-c-cables-explained-which-cable-2018-11" target="_blank" rel="noopener">USB-C connectors</a> could fry your device.<a href="https://www.businessinsider.com/guides/tech/iphone-15-preorder-price-release-date-new-features-2023-9">Apple will release the new iPhone</a> on September 22 and for the first time it will feature a USB-C port — marking a shift from Apple's Lightning connectors. This is the first time a <a href="https://www.businessinsider.com/apple-iphone-15-will-require-usb-c-charger-lightning-2023-9" target="_blank" rel="noopener">new iPhone charger</a> will be launched in over a decade. Some USB-C cables and plugins can have fewer protections for your phone than Apple's official Lightning cables, so you should be wary of public plugins and cheap connectors. <a href="https://support.apple.com/guide/iphone/important-safety-information-iph301fc905/ios" target="_blank" rel="noopener">Apple</a> recommends that iPhone owners use Apple chargers or other brands that meet certain safety regulations.Using a charger that doesn't meet standards could put iPhones at risk, Jessa Jones, the owner of the mobile device repair shop iPad Rehab, told <a href="https://www.nytimes.com/2023/09/12/technology/personaltech/apple-iphone-lightning-usb-c.html" target="_blank" rel="noopener">The New York Times</a>.The NYT's Brian X. Chen explains:<a href="https://www.businessinsider.com/apple-fake-chargers-study-2016-12" target="_blank" rel="noopener">Knockoff chargers</a> may be less expensive but you could end up paying the price in future repairs. If you buy a charger that isn't Apple brand, you should look at the product's description and reviews. You can also use tools like <a href="https://www.businessinsider.com/amazon-deals-prime-day-camelcamelcamel-fakespot-2017-7" target="_blank" rel="noopener">Fakespot</a> when shopping on Amazon to make sure you're getting a quality product. Ideally, your charger should be MFi.Apple's MFi — or Made for iPhone — program is meant to help protect users, whether or not they choose to buy Apple chargers, according to <a href="https://www.tomsguide.com/news/our-iphone-15-usb-c-fears-might-have-just-been-confirmed-this-is-a-very-bad-idea" target="_blank" rel="noopener">Tom's Guide</a>. MFi phone chargers have to pass safety regulations to make sure that users are not at risk while charging their devices. Brands like <a href="https://affiliate.insider.com?amazonTrackingID=biauto-61490-20&amp;h=5b0e374c0ae17f23d2cecedf8c95cb036213386f1f496210ddf434db28504832&amp;postID=6501d534e674062ff7cd0203&amp;postSlug=using-the-wrong-charger-could-damage-ruin-your-iphone-2023-9&amp;site=bi&amp;u=https%3A%2F%2Fwww.amazon.com%2FAmazonBasics-Nylon-Braided-Lightning-Cable%2Fdp%2FB082T6GVKJ%2Fref%3Dasc_df_B082T6GVKJ%2F%3Ftag%3Dhyprod-20%26linkCode%3Ddf0%26hvadid%3D459410835726%26hvpos%3D%26hvnetw%3Dg%26hvrand%3D8280547539430742859%26hvpone%3D%26hvptwo%3D%26hvqmt%3D%26hvdev%3Dc%26hvdvcmdl%3D%26hvlocint%3D%26hvlocphy%3D9008393%26hvtargid%3Dpla-943616960295%26th%3D1" target="_blank" rel="noopener">Amazon Basics</a> and <a href="https://affiliate.insider.com?amazonTrackingID=biauto-61490-20&amp;h=96e1f28a909329552d94b9536d33eabcf7209cc5740080af2a76bad95a1909c0&amp;postID=6501d534e674062ff7cd0203&amp;postSlug=using-the-wrong-charger-could-damage-ruin-your-iphone-2023-9&amp;site=bi&amp;u=https%3A%2F%2Fwww.otterbox.com%2Fen-us%2Fcharging-cable-lightning-to-usb-a-cable-black%2F78-80702.html%3Fgclid%3DCjwKCAjwu4WoBhBkEiwAojNdXiUYYBKhhXDKuWEfP-z2mvhAAnqrBdx-wh5j2zcy6E8RqWDZNAFW5BoCRl4QAvD_BwE%26gclsrc%3Daw.ds" target="_blank" rel="noopener">Otterbox</a>, for example, sell MFi chargers. Apple and MFi chargers may protect your iPhone from high-voltage outlets. Still, you should be careful when plugging your phone into hotel room outlets, airplane seat outlets, car consoles, and other public outlets.If you plug a low-quality charger into a high-voltage outlet, it could electrocute your phone, Jones told the Times. Being knowledgeable about where you plug your phone could prevent an emergency trip to the Apple store.

Using the wrong USB-C charger could permanently ruin your new iPhone 15

<ul><li>Domestic AIFs saw tepid activity as residential <keyword id="6354553" type="General" weightage="20" keywordseo="real-estate" source="Orion">real estate</keyword> debt witnessed lower demand.</li><li>Large deals dominated the PE investment in real estate in the first nine months of FY24.</li><li>Commercial real estate continued to attract large fund flows, and PE investors favour equity vs debt. </li></ul>A sharp rise in home sales as well rising office occupancies might be the talk of the town. Yet, private equity investments in the sector remained muted. In the first nine months of FY24, i.e. April to December 2023, <keyword id="189346" type="General" weightage="20" keywordseo="pe-investments" source="Orion">PE investments</keyword> in the sector registered a 26% decline, says a report by Anarock. Investor activity remained tepid due to geopolitical uncertainties as well as a high interest rate environment. The size of domestic investments however declined to 14% of total capital flows to $360 million as compared to $717 million in the same period last year. "Domestic alternate investment funds (AIFs) have seen lower activity levels as their favoured asset class — residential real estate debt – witnessed lower demand for high-cost funds. Strong residential pre-sales and an accommodative stance by state-owned banks have led to reduced demand for capital from the more expensive AIFs," said Shobhit Agarwal, MD &amp; CEO of Anarock Capital. The average ticket size marginally increased to $95 million from $91 million in the same time last year. This is largely due to a mega $1.4 billion deal in which Brookfield India Real Estate Trust REIT and Singapore’s GIC together acquired two commercial assets in Mumbai and Gurugram. The deal also aided the sharp rise in multi-city transactions. Otherwise, Mumbai Metropolitan Region led the transaction league tables in city-specific transactions. The region saw investments flows to the tune of $694 million. Top 5 real estate PE deals in 9MFY24 <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Investor </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Recipient </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Asset class </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Deal size </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brookfield RE Trust REIT &amp; GIC </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brookfield AMC </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Commercial </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$1.4 bn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">CPP Investments </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">RMZ Corp </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Commercial </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$325 mn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Morgan Stanley </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Prakhhyat Group </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Warehousing </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$85 mn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Blackstone </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Allcargo </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Warehousing </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$76 mn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Data Center Fund </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sify Infinit Spaces </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Data Center </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$73 mn </td></tr></tbody></table>Source: Anarock Office spaces dominate Most of the PE investment flows for the fiscal year flew into office spaces which dominated the big ticket deals. Data centers also became an emerging new asset class for investors. Domestic debt funds also showed interest in commercial projects. Varde Partners had invested $91 million in a Hyderabad based project by Phoenix Group. “The sector’s reliance on IT/ITeS diminished, with manufacturing, BFSI, and co-working spaces contributing to resilient demand. Anticipated growth in the IT/ITES sector is expected as more employees shift to working from offices for 3-4 days weekly,” said Anarock. Residential real estate was also one of the key sectors which saw large deals in 9M FY24. HDFC Capital as well as PAG invested over $60 million in CCI Projects and Kalpataru Group respectively. In times when overall flows softened, large deals dominated the scene. Top ten deals accounted for 87% of the total value of PE investments. In the same period last year, they accounted for 76%. While debt capital also flowed in, equity investments are preferred route for PE investors, which is visibly healthy at 84% of total deals.

Real estate hit its highs in 2023 but slipping PE investments a worry

<ul><li>About 43% of the real estate developers said they expect stable demand in 2023, as per a survey by <keyword id="6393312" type="General" weightage="100" keywordseo="credai" source="Orion">Credai</keyword>, Colliers and Liases Foras. </li><li>The most optimistic of developers, at 31%, believe that demand will increase by up to 25%. </li><li>About 87% of the developers are willing to launch a new project in 2023. </li><li>Developers are keen on branded residences and plotted developments. </li></ul>A majority of real estate developers in <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword> – at 74% – expect demand to either increase or remain stable in 2023, as per a survey conducted jointly by Credai, Colliers and Liases Foras. While 43% of those surveyed expect stable demand, the most optimistic of them — at 31%, believe that demand will increase by up to 25%. “During 2022, developers across the spectrum saw increased enquiries led by a continued inclination towards home ownership since the pandemic. The survey reveals that developers remain optimistic about the market,” said Harsh Vardhan Patodia, president of Credai National. Half of the developers also said that recession will have a moderate impact on their business. “Homebuyers remain enthused about purchasing homes, despite rising interest rates. Developers too are focusing on launching projects that are aligned as per the needs of the homebuyers and are also formulating strategies to complete their pending projects and bring in demand-led supply,” said Ramesh Nair, CEO India, Colliers. About 58% of the developers also expect housing prices to increase further, in light of volatile input costs, economic uncertainties and sustained inflation rates. “We have also seen a marginal increase in property prices (in 2022). The market is likely to maintain the momentum that the sentiment survey re-affirms,” said Pankaj Kapoor, managing director, Liases Foras. About 43% of those who participated in the survey said that their input costs have gone up by 10-20% in 2022, compared with the year before. An earlier report by Colliers too said that the cost of key construction materials jumped about 32% in three years. Plotted developments &amp; branded homes Thanks to the positive sentiment, most developers in the survey are formulating strategies to complete their pending projects and bring in demand-led supply. Around 87% of the developers also said that they are willing to launch new residential projects. Also, 51% of the developers who expressed a positive demand outlook are willing to explore new business models like plotted developments and branded residences. Higher disposable incomes and increased need for amenities and open spaces have pushed up demand for self-contained residential complexes, the survey said. Branded residences are the clear favourites among developers as about 31% of the developers are willing to explore them. And, 19% of them are willing to explore plotted developments. “Plotted developments are also becoming popular, especially in Tier II cities due to lower land rates and the flexibility they offer to homebuyers,” the report said. SEE ALSO <a href="https://www.businessinsider.in/finance/news/pe-inflows-into-mumbai-realty-drop-sharply-ncr-emerges-as-top-favourite-in-9mfy23-anarock/articleshow/96885518.cms">PE inflows into Mumbai realty drop sharply, NCR emerges as top favourite in 9MFY23: Anarock</a> <a href="https://www.businessinsider.in/finance/news/digital-inequality-debt-cost-of-living-crises-among-top-5-risks-for-india-in-2-years-wef/articleshow/96929194.cms">Digital inequality, debt, cost of living crises among top 5 risks for India in 2 years: WEF</a>

Realty developers positive on demand, keen on branded homes & plotted developments: Credai survey

<ul><li>Women entrepreneurs account for 20% of <keyword id="3082456" type="General" weightage="20" keywordseo="indifi" source="Orion">Indifi</keyword>’s total loan disbursals. </li><li>Indifi said that it has disbursed 50,000 loans to over 30,000 micro <keyword id="44779" type="General" weightage="20" keywordseo="smes" source="Orion">SMEs</keyword>. </li><li>Over 64% of the loans for small business owners is concentrated in east, northeast and south regions. </li></ul> Indifi Technologies, a Gurgaon-based online lending platform, said that it has disbursed 50,000 loans amounting ₹2,800 crores in the last six years. These loans were given to 30,000 micro SMEs. As per the <a href="https://msme.gov.in/sites/default/files/MSME_gazette_of_india.pdf">ministry definition</a>, a micro enterprise’s annual turnover must be below ₹5 crore and its investment in plant, machinery or equipment must not exceed ₹1 crore. “Micro entrepreneurs have historically struggled with access to timely capital but, with advancements in technology and data, the industry today is equipped with great tailwinds to change that,” Alok Mittal, co-founder and CEO said. A fifth of Indifi’s loan disbursals went to women entrepreneurs. Further within the women-led businesses, 25% of the loans were given to first time borrowers and 25% to businesses from tier 2, 3 and 4 cities. The loans that are being disbursed to micro enterprises have been going up. The Non Banking Finance Company-Micro Finance Institute’s (NBFC-MFI) portfolio increased by 36.6% in India from Q3 FY 19-20 to Q1 FY 22-23, according to a report by <keyword id="113684" type="General" weightage="20" keywordseo="microfinance" source="Orion">Microfinance</keyword> Institutes Network (MFIN). “During the first quarter, the sector was occupied with the implementation of new harmonized regulations of the RBI. Despite that the growth has been good and credit quality of post-Covid disbursements are at 95% plus. During the remaining period of FY 22-23, riding on robust branch expansion, pent up demand and conducive policy, the sector is poised for sustainable growth,” MFIN chairperson, Devesh Sachdev said. The report also said that over 64% of the loans for small business owners are concentrated in east and northeast and south regions. The microfinance network is made up of NBFC-MFIs, banks, Small Finance Banks (SFBs), <keyword id="6354598" type="General" weightage="20" keywordseo="nbfcs" source="Orion">NBFCs</keyword> and others (including Non-profit MFIs). As on 30 June 2022, 3.5 crore clients have loan outstanding from BFC-MFIs, which is 13.8% higher than a year before, MFIN reports. In spite of the recent growth, the credit gap to the <keyword id="6393272" type="General" weightage="20" keywordseo="msmes" source="Orion">MSMEs</keyword> is estimated at ₹40 lakh crore, owing to barriers of access, cost, and <a href="https://m.economictimes.com/small-biz/sme-sector/funding-and-msmes-can-banks-fintech-together-address-the-credit-gap-for-small-businesses/articleshow/81087510.cms">underwriting</a>. In India, microfinancing institutions (MFIs) are present in 27 states and five union territories. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/reliance-is-reportedly-planning-to-launch-jiophone-5g-launch-in-india-at-a-very-affordable-price/articleshow/94483655.cms">Specifications of JioPhone 5G with Codename 'Ganga' leaked - check all details here</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/amazons-2022-hardware-event-heres-whats-new-on-kindle-echos-fire-tv-cube-and-halo-rise/articleshow/94532586.cms">Amazon’s 2022 Hardware Event — here’s what's new on Kindle, Echos, Fire TV Cube, and Halo Rise</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sports/news/jasprit-bumrah-ruled-out-of-t20-world-cup-with-back-stress-fracture-report/articleshow/94532793.cms">Jasprit Bumrah ruled out of T20 World Cup with back stress fracture: Report</a>

Gurgaon-based Indifi disbursed ₹2,800 crore worth of loans to small business owners

As of March 2021, <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword>’s total lending market size stood at ₹156.9 lakh crore, recording around 100% growth between FY2017 and FY2021. Retail and commercial lending each contribute 49% to total lending in India while microfinance contributes about 2%. Over the recent years, there have been commendable focussed policy initiatives such as <keyword id="6392137" type="General" weightage="50" keywordseo="jan-dhan-yojana" source="Orion">Jan Dhan Yojana</keyword>, <keyword id="3060238" type="General" weightage="80" keywordseo="mudra-yojana" source="Orion">Mudra Yojana</keyword> and <keyword id="13518253" type="General" weightage="50" keywordseo="national-strategy-for-financial-inclusion" source="Orion">National Strategy for Financial Inclusion</keyword> (2019-2024), however, India has a long way to go in terms of financial inclusion. Availability of formal credit to low-income populations is a big challenge and rural areas are underserved. According to the <keyword id="6354424" type="General" weightage="50" keywordseo="world-bank" source="Orion">World Bank</keyword>’s Global Findex Database 2017, only 8% of the Indian population borrowed money through a formal channel like financial institutions. <keyword id="6355185" type="General" weightage="50" keywordseo="rural-india" source="Orion">Rural India</keyword> accounts for about half of GDP, but only about 9% of total credit and 11% of total deposits. While flow of credit at the bottom of the pyramid has improved over the last decade, there is a huge missing middle segment. MFIs (microfinance institutions) have been significant credit providers to micro-enterprises and individuals through JLGs (joint lending groups). MFI segment with average ticket size of less than ₹40,000 has been reasonably serviced by over 200 institutions with outstanding credit of ₹2.5 lakh crore as at March 2021 and growing at 23.8% CAGR (compounded annual growth rate) during FY17-21. Under the Mudra Yojana, the programme aimed at funding the unfunded micro enterprises and small businesses with loans up to ₹10 lakh, ₹15.52 lakh crore were disbursed to 29.55 crore loan accounts during its 6 years of its operations (FY16-FY21), however, average ticket size was still low at ₹52,500 in this period. Micro enterprises with higher credit need of ₹1-5 lakh is a severely underserved segment with only a handful of focussed players. Compared to MFI outstanding credit of ₹2.5 lakh crore, in loans of ₹50,000-10 lakh, which is a much larger market, outstanding credit stands at just ₹1 lakh crore. Micro enterprises faced a huge credit gap of ₹8 lakh crore in 2018 as per IFC. Key issues restricting the flow of credit to this segment include the lack of documents such as income tax returns (ITR), goods and services tax (GST) and adequate banking records. As a result, issues related to income assessment have emerged as major supply-side barriers. Pure Fintech model is not suitable since the above data points are lacking and borrowers need hand-holding in disbursements as well as collections as many upgrade from JLG borrowings. Nonetheless, the emergence of a handful of new age non-banking financial companies (NBFCs) is changing the lending landscape by introducing a model that captures the best of fintech and conventional credit features, transforming the protocols of lending for micro-enterprises and individual business loan requirements. Unlike legacy banks, new age NBFCs are analysing alternative data for income assessment, applying technology more effectively and have an agile and on-ground workforce. For micro-enterprises seeking business loans, lack of collateral is no longer a major constraint and a good credit score or credit history is good enough. Considering their more suitable lending norms for this segment, new-age NBFCs are gaining popularity when it comes to small ticket business loans. Besides, NBFCs approve loans far more quickly than banks and the entire end-to-end process from application to disbursal can be completed within a few days. Players in this space with less than 1% GNPA (gross non-performing asset) even after three COVID-19 waves have proven that backed by a strong underwriting, efficient collection model and leveraging technology, lending to this segment is scalable with a significant impact on growth in income of micro-entrepreneurs. Given the lakh of micro and small enterprises across India that fall outside the purview of formal financial systems, including self-employed individuals who remain ineligible for formal credit, new age NBFCs are playing a pivotal role in promoting the goal of inclusive development. Undoubtedly, such digital lending players can serve millions of unbanked sections across India, influencing their lives positively. The author is cofounder and co-chief executive officer of Moneyboxx, an NBFC. Disclaimer: The opinions expressed are those of the author and do not necessarily reflect the views of Business Insider India.

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