Current Affairs - Finance

Juspay achieved unicorn status in 2026 after raising $50 million in a Series D follow-on round led by WestBridge Capital, reaching a valuation of $1.2 billion. This milestone made it the first company in India to enter the unicorn club that year and the 127th unicorn overall in the country. The company specializes in enterprise payment solutions such as UPI, payment orchestration, and infrastructure, processing nearly 300 million transactions daily with an annual total payment value of about $1 trillion. The funding also supported global expansion and provided liquidity to early investors and ESOP holders.

The World Bank has approved substantial technical and financial assistance amounting to ₹5,700 crore to support the Jal Sanrakshit Haryana Project. This initiative is aimed at achieving water self-reliance through large-scale restoration and modernisation of canal infrastructure across the state. The funding will be released in phases between 2026 and 2032 and will contribute to upgrading hundreds of canals. Along with support from state funds and NABARD, the World Bank’s involvement highlights its role in strengthening water resource management, improving irrigation efficiency, and promoting sustainable agricultural and water practices in the region.

Razorpay has achieved an important regulatory milestone with its POS division receiving approval from the Reserve Bank of India to function as an Offline Payment Aggregator. This authorisation allows the company to facilitate in-store digital transactions, onboard offline merchants, and manage settlement processes in compliance with RBI norms. With this approval, the company now holds licences for online, cross-border, and offline payment aggregation, giving it a comprehensive presence across the digital payments value chain. The move strengthens its ability to support retailers, SMEs, and service providers as India rapidly adopts cashless and contactless payment solutions.

India recorded a historic milestone in FY2025 by achieving electronics exports worth $47 Billion, reflecting the rapid expansion of its manufacturing ecosystem. A major contributor to this growth was smartphone manufacturing under the Production Linked Incentive (PLI) scheme, which alone accounted for nearly $30 billion in exports. Electronics emerged as India’s third-largest export category, highlighting the success of initiatives such as Make in India. Since 2014–15, electronics exports have grown eleven-fold, generating around 25 lakh jobs, with significant participation from women and MSMEs, and boosting domestic production nearly six times.

Piramal Finance successfully raised USD 350 million from the International Finance Corporation (IFC) and the Asian Development Bank (ADB), marking its first borrowing from development finance institutions. The 5-year loan under the Sustainable Finance Framework aims to expand lending for affordable housing, MSME credit, and women borrowers in tier-2 and tier-3 cities. Piramal Finance is also pursuing an additional $150 million from other DFIs to reach a total target of $500 million in FY26. This initiative highlights the institution’s focus on promoting inclusive growth and sustainable financial solutions for underserved segments.