Current Affairs - Business

Flipkart-backed UPI platform super.money has acquired BharatX, a checkout financing platform, in an all-cash transaction. This move aims to bolster super.money's foothold in India's expanding digital credit market, particularly within the checkout financing sector. The acquisition will enable super.money to leverage BharatX's technology stack to enhance credit-on-UPI solutions.

Bajaj Allianz Life Insurance became the first insurer in India to introduce the Bima-ASBA facility on February 22, 2025. This new payment method allows policyholders to block up to ₹2 lakh in their bank accounts using UPI's One-Time Mandate (OTM), offering more control and transparency in premium payments. The initiative was supported by the Insurance Regulatory and Development Authority of India (IRDAI) and aims to simplify the premium payment process, ensure financial security, prevent refund delays, and allow policyholders to earn interest on blocked amounts.

Tata Power has partnered with Amazon Web Services (AWS) to modernize its digital infrastructure and help accelerate India’s transition to a smarter and more sustainable energy ecosystem. This collaboration focuses on using cloud technology to enhance operational efficiency, strengthen grid resilience, and improve consumer energy management. The integration of cloud computing, AI, and IoT into Tata Power’s operations will enable smarter energy distribution and promote sustainability by encouraging energy conservation and more efficient consumption.

LIC (Life Insurance Corporation) launched the ‘One Man Office’ (OMO) digital platform on February 17, 2025. This platform allows agents and sales associates to sell policies, track business, and offer continuous customer service. The initiative is aimed at enhancing the efficiency and productivity of LIC’s sales force. By introducing OMO, LIC strives to provide better service and empower its agents with the necessary tools to operate effectively in the digital age.

360 ONE Asset is set to acquire a 15% stake in Bharti AXA Life Insurance. This acquisition is part of the company's strategy to infuse fresh capital, drive innovation, and enhance its market presence. The move will provide Bharti AXA with the necessary financial resources to expand its operations, improve its product offerings, and strengthen its competitiveness in the rapidly evolving insurance sector. This stake acquisition will play a pivotal role in Bharti AXA's growth strategy and financial stability.