Current Affairs - Finance

Bajaj Finance Limited partnered with Spydra to launch InsureChain, a blockchain-based insurance platform aimed at modernising India's insurance ecosystem. Built on the Hyperledger Fabric framework using Spydra’s low-code blockchain technology, the platform replaces fragmented systems and manual processes with a shared, real-time digital framework. It enables lenders, insurers, and service teams to coordinate efficiently during policy issuance while improving transparency and reducing processing delays. As a leading NBFC and insurance distributor, Bajaj Finance is expected to benefit from enhanced data accuracy, faster operations, and better collaboration across the insurance and lending ecosystem.

Skydo became the first Indian cross-border payment platform to receive a regulatory license in Canada under the Retail Payment Activities Act, supervised by the Bank of Canada. This milestone enables the company to provide local collections and payouts within Canada while facilitating seamless two-way payment flows between India and Canada. Backed by Elevation Capital and Susquehanna Asia Venture Capital, Skydo focuses on building payment infrastructure for SMEs and international platforms. The achievement strengthens India's fintech presence globally and supports smoother international trade and cross-border business transactions.

Zerodha Fund House launched India's first target-date Life Cycle Fund series, introducing the Life Cycle Fund 2036 and Life Cycle Fund 2041. These funds are designed to help investors achieve long-term financial goals by automatically adjusting asset allocation as the target year approaches. Initially, the portfolio maintains higher exposure to growth-oriented assets such as equities and gradually shifts towards lower-risk investments like government securities. The funds also include exposure to gold and silver, providing diversification. This innovative investment approach aligns with global retirement planning practices and offers a disciplined, long-term wealth creation strategy for investors.

The Asian Development Bank (ADB) partnered with Schoolnet India Limited to provide a USD 10 million financing package aimed at strengthening digital education infrastructure across India. The initiative seeks to benefit approximately 4.5 million students by supporting digital learning in 30,000 government schools. Key objectives include establishing computer laboratories in at least 1,000 schools, creating 58,000 digital classrooms, and training over 56,000 teachers in digital pedagogy and equitable teaching practices. The project is notable as ADB’s first private sector financing initiative for a digital education project in India, highlighting its commitment to enhancing human capital development through technology-enabled learning.

Nice, a prominent city in France, became the latest international location to adopt India's Unified Payments Interface (UPI) for seamless digital transactions. The launch took place at Galeries Lafayette Nice Massena, a major retail destination, through a collaboration between NPCI International Payments Limited (NIPL) and the French fintech company Lyra Collect. This initiative expands the global reach of India's digital payment ecosystem and follows the earlier rollout of UPI at the Eiffel Tower in Paris in 2024. The move enhances convenience for Indian travellers while strengthening cross-border payment interoperability and showcasing India's leadership in digital financial innovation on the global stage.