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<ul><li><keyword id="401567" type="General" weightage="100" keywordseo="faering-capital" source="Orion">Faering Capital</keyword> looks to participate in the mortgage lender’s journey ahead.</li><li>Vastu Housing is focused on the affordable housing market in India and has also started an NBFC to service new to credit customers.</li><li>Secondary transaction carried out by Multiples Alternate Asset Management. </li></ul> <keyword id="6236441" type="General" weightage="80" keywordseo="vastu-housing-finance" source="Orion">Vastu Housing Finance</keyword> has closed a fund raise from Faering Capital, founded by <keyword id="401568" type="General" weightage="80" keywordseo="aditya-parekh" source="Orion">Aditya Parekh</keyword> and Sameer Shroff. The transaction is a secondary sale by funds managed by Multiples Alternate Asset Management and other shareholders of the company. The value of the transaction is $30 mn. Aditya Parekh, Co-founder &amp; Managing Director of Faering Capital said, “We are excited to partner with Sandeep and team and other shareholders in the Vastu journey. Housing finance and specifically affordable housing are multidecadal opportunities in India. Having tracked Vastu’s progress over the last few years, we are confident that the company is well on its way to build a highly profitable, large and respected institutional franchise focused on affordable housing finance.” Private equity investors are keenly looking at India’s fintechs and non-banks that look to build businesses that serve the underserved population in India. According to deal data analysed by <keyword id="131240" type="General" weightage="50" keywordseo="grant-thornton" source="Orion">Grant Thornton</keyword>, a total of 30 private equity deals were executed in the sector, cumulatively valued at $566 million in the September quarter of 2023. Among these transactions, fintech claimed the spotlight with a 30% share in terms of deal volumes, even though sequentially value and volume showed a dip. However, banks and non-banks ruled the charts with respect to values, contributing a 77% share in overall investments. Vastu is a digitally enabled retail affordable housing finance company with a pan-India presence. Vastu currently has an AUM of $900 million and serves 15 states across India in 200+ markets. It aims to become a mortgage-led consumer lender serving the credit needs of emerging and aspiring India, Vastu has also set up a non-banking finance company (NBFC), Vastu Finserve in 2019, venturing into vehicle and MSME finance. Creating social impact lies at the core of Vastu, which focuses on lending to the low-middle income, mainly self-employed segment, and backing women borrowers. Vastu has more than 40 lending relationships across leading public and private sector banks and leading financial institutions. Sandeep Menon, Founder, MD &amp; CEO, Vastu said,"We are happy to have Faering Capital join us as a valued partner. Aditya, Sameer and team have great domain knowledge in our industry and have been long-term supporters of Vastu. We look forward to having them as long-term shareholders.”

Aditya Parekh’s Faering Capital picks up stake in Vastu Housing Finance

<keyword id="44473" type="CITY" weightage="80" keywordseo="Citigroup">Citigroup</keyword> and <a href="http://www.businessinsider.in/searchresult.cms?query=Bank+of+America+">Bank of America</a> are betting on blockchain technology which is widely being seen as the biggest technology disruption in the world of traditional <keyword id="6354241" type="COMPANY" weightage="60" keywordseo="Financial-Services">financial services</keyword>. 
 
According to a senior official of the US headquartered banking and financial services company, <a href="http://www.businessinsider.in/searchresult.cms?query=Citigroup+">Citigroup</a> is looking to tap into the potential of blockchain, the underlying technology that powers virtual currencies such as bitcoin. 
 
The company is also experimenting with the idea of its own fiat-backed digital currency that derives its value from government regulations. 
 
Citigroup has joined other global banks such as <a href="http://www.businessinsider.in/searchresult.cms?query=Barclays+">Barclays</a> and <keyword id="6374849" type="CITY" weightage="100" keywordseo="Bank-of-America">Bank of America</keyword> that are also interested in blockchain technology. 
 <keyword id="99596" type="UNKNOWN" weightage="60" keywordseo="aditya-menon">Aditya Menon</keyword>, MD of global digital strategy at Citigroup, said: "On the blockchain, there are two parts that interest us. One is, today we are one of the largest movers of money -up to $1 trillion or more on a daily basis -because we're the only bank that actually operates in 100 countries. So, there is obviously an opportunity around our own general ledgers." 
 
Menon further said: "We like the idea of a crypto currency that doesn't have volatility. We are experimenting with the idea of a fiat-backed digital currency-backed by a pound or a dollar or euro as the case may be. So, there is some interest there." 
 
The company's bet on blockchain comes at a time when the traditional banking and financial services industry is facing rapid disruption from the rise of new-age payments banks, mobile wallets and crypto currencies such as <a href="http://www.businessinsider.in/searchresult.cms?query=bitcoin">bitcoin</a>. 
 
"For us it's not so much about bitcoin because bitcoin is something that has very volatile value, questionable in terms of an entry in and entry out from a regulatory perspective. But if you think about the distributed ledger -that is extremely valuable," said Menon, who also heads application programme interface development at Citigroup. Traditional banks like Citi and <a href="http://www.businessinsider.in/searchresult.cms?query=JP+Morgan+">JP Morgan</a> are scrambling to play catch-up with new-age fintech companies that are starting to leverage blockchain technology. 
 
A report from the International Business Times in July said, Citigroup has built its own digital currency based on bitcoin and the blockchain called CitiCoin. 
 
According to experts, the blockchain technology is considered to be hugely disruptive since it completely overhauls the traditional methods of transacting and maintaining online records, and allows banks and people to directly exchange money without having to rely on the additional, more expensive layers of middlemen. 
 
According to Menon, there is an opportunity in it. He said: "Blockchain gives you the ability to not only update a distributed ledger but settle it, which otherwise is a laborious process especially if you're doing it across multiple countries and times zones.” 
 
He said trade finance is another area, citing the example of open-account trading."There is a last-mile hostage situation where money, documents need to change hands. So, if you use a distributed ledger to actually record ownership of title of the goods and then that changes hands based on the payments -that's a great example of how you can use blockchain technology to facilitate a trade transaction, which otherwise has been done in a very manual-intense way," he said. 
 
(Image: Indiatimes)

Know why Bank of America, Citigroup are betting big on blockchain technology

New Delhi, April 5 () How do you explain to a child the science of something that is neither living nor dead? How do you tell her that something invisible can kill people. What answer does a father have when his son asks whether he will be able to celebrate his birthday in June. Then there is the kid who is competes with his parents for TV time – cartoons or grim news programs? And perhaps not surprisingly many want to beat up China .Parents across the country, and the world, are grappling with an unprecedented challenge of dealing with their children who are too old to be shushed or placated and too young to understand the inexplicable situation the world has found itself in. journalists across India shared experiences and conversations with their children aged 2 to 13, which ranged from cute to poignant and heart-wrenching to humorous, and some with sagacity far beyond their age. Here are some of the experiences from around the country: Niheer Waghmare, all of 2 years 4 months, is a diehard fan of his father Aditya's Royal Enfield motorcycle. A short ride around Aurangabad is mandatory every day. When the lockdown started, this practice stopped. Now the bike engine is started every morning for him to sit on its petrol tank and drink his milk. His mother told him: "There is a threat called corona on roads outside. It will attack and injure us". He understood it's something dangerous. "He said, 'once corona ends, I will go to the hills'. For now, I show the hills to him from the roof of my house," said Waghmare. ---- Three-year-old Ira was never too keen to go to playschool. But since the lockdown she's been insisting on being with her playgroup. So her mother, Arundhati Pattabhiraman, dresses up Ira every morning and lines up her toys to create an environment similar to her play school. To make her understand about coronavirus, "we made it into a story that it is a monster which will catch her if she steps out of the house or if she doesn't wash her hands. So now every time she speaks to her grandparents, she ends the conversation with 'wash your hands or coronavirus will get you'." ----- Anvay Deshmukh, 4, believes he can beat the "Corona-demon" in a fist fight. He also checks out the main gate of the house a couple of times in a day, thinking he may spot the demon so that he can fight with him. "We have informed him that he is not supposed to touch him and keep his hands clean so that coronavirus will not recognise him. He has started joyously clapping every time after washing his hands" said his father Nikhil Deshmukh in Mumbai."We had to come up with a story of Corona-demon who is on the loose and is wandering on the streets," said Deshmukh. "He at times believes that." ----- Ananya Jaiswal, who is 5, used to go on a horse cart ride every weekend, followed by her favourite cheese dosa and watermelon juice. Accepting that the horse cart ride is not possible now, she has found an alternative -- her soft toy, a huge Winnie the Pooh, on which she sits and pretends to be on a horse. As for the cheese dosa, "we try to make her happy by making her favourite delicacies," said her mother Komal Panchamatia in Mumbai. The other day, she chose to wear her party dress and got ready with matching accessories. She wore it throughout the day, said Panchamatia, who like everyone else is working from home. "Ananya has by now understood that I have a teacher and I have been given homework to do every day." ____ Mihika Menon, 8, is disturbed every time her father talks about the rising number of coronavirus cases. Unable to keep up her routine of visiting the British Library every two weeks, she is re-reading old books, especially the Thea Stilton series. ----- Shaalvi Kolhatkar in Pune turned three on March 20 and celebrated her birthday without a party or friends. She insisted on going out but her parents keep her at home by engaging her in producing colourful decoration, cake baking and photo sessions. "Her non-stop chatter keeps us refreshed and motivated in this hard time," said her father, Sandip Kolhatkar. ----- Airah Zaidi, 7, whose school in Ghaziabad broke for the two-week recess on March 9 before the start of new session, is bored to death and now longs to go to school. So what does she miss most about school? "Seeing teachers get angry and students being naughty," said Airah. She tells her dad that Chinese people should not be eating "bats and insects" which she believes is the reason for the spread of coronavirus. "Chinese people should spread whatever disease they want in their country but not in India." "I want to hit the Chinese people on their head," says her brother, Wali Zaidi, 4. ----- It has been difficult for Sanjay Ganjoo in Chandigarh to restrict his younger son Saiyam, 8, indoors. A family trip to Mumbai planned for March 23 was cancelled and Saiyam doesn't understand why. Ganjoo has no answer when Saiyam asked him: "Will the lockdown last till June and will I not be able to celebrate my birthday?" ----- On March 15 when the Maharashtra government ordered all schools to shut, five-year-old Arjun Tiwari was excited, no questions asked. Now his only concern is will normalcy return before his sixth birthday in June. ----- Alya Srivastava, 13, is sad that the celebration of her best friend's birthday on Monday, has been cancelled. "Why are we being deprived of this little fun and enjoyment. Why there is no cure for the disease? When will I be able to go to school?" ----- Anushka Makne's virtual school session began from April 1. On March 31 night, she refused to go to sleep early. "When my wife persuaded her to sleep so she could wake up early the next day, the kid asked her, 'Has the coronavirus died?'" said her dad Eknath. ---- Sadhana, aged 6, has been given a matter-of-fact explanation of the coronavirus, and told that it attacks the children and elderly, to keep her indoors.Although her main concerns are candies and snacks, whose stocks are dwindling, she also misses going out with her father Sathish Anand, on what is called as "round" in the local parlance, in his two-wheeler. "So, her 'after this is over' list includes our regular visits to the nearby huge temple tank brimming with water," said Anand. Until then, it is clear who is in charge at home, at least as far as the control over the TV remote goes: she decides when the cartoon channel will be and when news channel will be on. ----- Kara Nofil, 5, has penned a message for her family and friends. In a beautifully handwritten note she says: Life is very tough at the moment because of this very unfortunate virus, as you all know. But you don't have to get too impatient and I'll tell you what the good thing is that you get to spend time with your wonderful family. Lots of scientists are trying to come up with a cure for this dangerous virus and I believe that they can do it and I won't put my hopes down, and all of you shouldn't too. … Be patient, kind and positive to fight CORONA." ---- Sudipto Chowdhury's 5-year-old daughter Adrija Chowdhury reminds him and her grandparents everyday to wear mask and wash. She pronounces corona as "carono" and has put up a small piece of cloth around the face of her favourite doll to protect it from COVID-19. ----- In Patna, Anand Raj's 8-year-old son Abhigyan Pratap Singh is upset that IPL 2020 is not taking place, and he blames China. Banjop Mukhim's 5-year-old son Mayan Nongbri in Shillong is livid over missing school and football, all because of coronavirus. But, he is happy to have his mother at home with him. He has decided to break his piggy bank and donate coins in the CM Relief Fund to fight COVID-19. ----- Ten-year-old Kartik Mehra, a student of Gyan Bharti School in New Delhi has clear ideas about coronavirus. "Coronavirus is made in China. I have seen in news, it got leaked when people were shot in a market in China. I know it is dangerous so I don't go anywhere." ---- For Dahliya Tyagi, 13, being with parents at a stretch for days is new is to her as she is used to one of them being absent. Her mother Richa Tyagi keeps her and her son Kayan, 10, busy by making them take care of their clothes and keeping the rooms clean. Initially they rebelled an accused the mother of tormenting them but have gradually come around. Now, Dahliya says she is "really thankful" for what the domestic help does in normal times. "I was happy that she has started valuing people around her and has learnt to show gratitude. I even heard her telling her brother, 'We will read all about this (coronavirus) in history books one day'," said Tyagi. TEAM VJVJ

In millions of homes, children have questions about corona -- and some lessons for adults

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Aditya Parekh’s Faering Capital picks up stake in Vastu Housing Finance

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Know why Bank of America, Citigroup are betting big on blockchain technology

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In millions of homes, children have questions about corona -- and some lessons for adults

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