Language:
Daily Current Affairs & GK
Latest updates for SSC, Banking, Railways & State Exams
Advertisement
Union MoS Dr. Jitendra Singh Announces Seismological Observatory and Doppler Radar In April 2026, Union Minister of State (MoS) (Independent Charge, IC) Dr. Jitendra Singh, Ministry of Science & Technology(MoS&T) and Ministry of Earth Sciences (MoES) announced the establishment of a Seismological Observatory in Kishtwar and a Doppler Weather Radar (DWR) in Doda in Jammu and Kashmir(J&K).He made the announcement while chairing a meeting of the District Development Coordination and Monitoring Committee (DISHA) at the DC Office Complex in Doda.Significance of Initiative:Doppler Weather Radar (DWR): The proposed DWR will facilitate precise, real-time monitoring of weather conditions, significantly enhancing early warning systems and strengthening disaster management capabilities in the district under the Mission Mausam initiative.Seismological Observatory: The establishment of a permanent seismological observatory will augment India’s national seismic monitoring network, improve earthquake detection and analysis, and reinforce disaster preparedness and risk mitigation in the region.Automated Weather Stations(AWS): He also announced that site selection has been completed for installing AWS in the remote areas of Paddar and Machail to enhance weather forecasting and strengthen disaster management efforts.Significance: These initiatives support the expansion of India’s meteorological and seismic observation networks, particularly in vulnerable mountainous regions.
Union MoS Dr. Jitendra Singh Announces Seismological Observatory and Doppler Radar In April 2026, Union Minister of State (MoS) (Independent Charge, IC) Dr. Jitendra Singh, Ministry of Science & Technology(MoS&T) and Ministry of Earth Sciences (MoES) announced the establishment of a Seismological Observatory in Kishtwar and a Doppler Weather Radar (DWR) in Doda in Jammu and Kashmir(J&K).He made the announcement while chairing a meeting of the District Development Coordination and Monitoring Committee (DISHA) at the DC Office Complex in Doda.Significance of Initiative:Doppler Weather Radar (DWR): The proposed DWR will facilitate precise, real-time monitoring of weather conditions, significantly enhancing early warning systems and strengthening disaster management capabilities in the district under the Mission Mausam initiative.Seismological Observatory: The establishment of a permanent seismological observatory will augment India’s national seismic monitoring network, improve earthquake detection and analysis, and reinforce disaster preparedness and risk mitigation in the region.Automated Weather Stations(AWS): He also announced that site selection has been completed for installing AWS in the remote areas of Paddar and Machail to enhance weather forecasting and strengthen disaster management efforts.Significance: These initiatives support the expansion of India’s meteorological and seismic observation networks, particularly in vulnerable mountainous regions.
Union MoS Dr. Jitendra Singh Announces Seismological Observatory and Doppler Radar In April 2026, Union Minister of State (MoS) (Independent Charge, IC) Dr. Jitendra Singh, Ministry of Science & Technology(MoS&T) and Ministry of Earth Sciences (MoES)...
India Withdraws Proposal To Host COP 33 Climate Summit 2028In April 2026, India officially withdrew its proposal to host COP33 under the United Nations Framework Convention on Climate Change (UNFCCC) in 2028, leaving South Korea as the sole bidder.Rajat Agarwal, Joint Secretary, Ministry of Environment, Forests and Climate Change(MoEFCC) informed the chair of United Nation(UN) Asia-Pacific Group(currently Pakistan), within the United Nations Framework Convention on Climate Change (which conducts the climate conference) via letter, citing a ‘review of its commitments’.Key Details: India’s Proposal: Prime Minister (PM) Narendra Modi had conveyed India’s proposal to host COP33 during his special address at the inauguration of the High-Level Segment (HLS) of COP28 in December 2023 in the United Arab Emirates (UAE).Previous COP Hosting: India previously hosted only COP8 in 2002 at Vigyan Bhawan, New Delhi, Delhi.COP: It is the highest decision‑making body under the UNFCCC, where Parties meet annually to assess progress on climate goals, negotiate commitments, and mobilise climate finance and action.
India Withdraws Proposal To Host COP 33 Climate Summit 2028In April 2026, India officially withdrew its proposal to host COP33 under the United Nations Framework Convention on Climate Change (UNFCCC) in 2028, leaving South Korea as the sole bidder.Rajat Agarwal, Joint Secretary, Ministry of Environment, Forests and Climate Change(MoEFCC) informed the chair of United Nation(UN) Asia-Pacific Group(currently Pakistan), within the United Nations Framework Convention on Climate Change (which conducts the climate conference) via letter, citing a ‘review of its commitments’.Key Details: India’s Proposal: Prime Minister (PM) Narendra Modi had conveyed India’s proposal to host COP33 during his special address at the inauguration of the High-Level Segment (HLS) of COP28 in December 2023 in the United Arab Emirates (UAE).Previous COP Hosting: India previously hosted only COP8 in 2002 at Vigyan Bhawan, New Delhi, Delhi.COP: It is the highest decision‑making body under the UNFCCC, where Parties meet annually to assess progress on climate goals, negotiate commitments, and mobilise climate finance and action.
India Withdraws Proposal To Host COP 33 Climate Summit 2028In April 2026, India officially withdrew its proposal to host COP33 under the United Nations Framework Convention on Climate Change (UNFCCC) in 2028, leaving South Korea as the sole bidder.Ra...
Sponsored Advertisement
NITI Aayog Launches Report on ‘Women’s Evolving Credit Market’; Women Hold Rs. 76 Lakh Crore Credit PortfolioIn April 2026, Nidhi Chhibber, Chief Executive Officer (CEO) of National Institution for Transforming India (NITI) Aayog, released the second edition of its report titled “From Borrowers to Builders: Women and India’s Evolving Credit Market” in New Delhi, Delhi.The report highlights that women hold a credit portfolio of Rs.76 lakh crore, accounting for 26% of total system credit with a 4.8-fold rise since 2017.Key Findings:Collaboration: The report, prepared under the aegis of the Women Entrepreneurship Platform (WEP), was developed by TransUnion CIBIL in collaboration with MicroSave Consulting (MSC).Penetration: Credit penetration among women increased from 19% in 2017 to 36% in 2025 with around 16 crore credit-active borrowers growing at a 9% Compound Annual Growth Rate (CAGR).Potential: Nearly 45 crore credit-eligible women exist in India, with about two-thirds still unserved, indicating vast expansion scope.
NITI Aayog Launches Report on ‘Women’s Evolving Credit Market’; Women Hold Rs. 76 Lakh Crore Credit PortfolioIn April 2026, Nidhi Chhibber, Chief Executive Officer (CEO) of National Institution for Transforming India (NITI) Aayog, released the second edition of its report titled “From Borrowers to Builders: Women and India’s Evolving Credit Market” in New Delhi, Delhi.The report highlights that women hold a credit portfolio of Rs.76 lakh crore, accounting for 26% of total system credit with a 4.8-fold rise since 2017.Key Findings:Collaboration: The report, prepared under the aegis of the Women Entrepreneurship Platform (WEP), was developed by TransUnion CIBIL in collaboration with MicroSave Consulting (MSC).Penetration: Credit penetration among women increased from 19% in 2017 to 36% in 2025 with around 16 crore credit-active borrowers growing at a 9% Compound Annual Growth Rate (CAGR).Potential: Nearly 45 crore credit-eligible women exist in India, with about two-thirds still unserved, indicating vast expansion scope.
NITI Aayog Launches Report on ‘Women’s Evolving Credit Market’; Women Hold Rs. 76 Lakh Crore Credit PortfolioIn April 2026, Nidhi Chhibber, Chief Executive Officer (CEO) of National Institution for Transforming India (NITI) Aayog, released the second...
Union Minister Jayant Chaudhary Initiates Campaign to Build ‘Skills Outcomes Fund’ for Youth LivelihoodsIn April 2026, Union Minister Jayant Chaudhary, Ministry of Skill Development and Entrepreneurship (MSDE), initiated a campaign to establish the Skills Outcomes Fund (SOF), a first-of-its-kind initiative in New Delhi, Delhi, to enhance employment opportunities for youth from low-income backgrounds across India.The initiative aims to launch the SOF to mobilize capital, link skilling to verified employment outcomes for youth, and scale as the world’s largest Outcomes-Based Financing (OBF) initiative.Key Features of SOF:Anchor: Led by National Skill Development Corporation (NSDC) under the MSDE as the nodal implementing agency.Model: Uses blended finance by combining government, private, and philanthropic capital through an outcomes-based financing approach linking payments to verified employment results.Focus: Targets demand-driven, employer-led skilling in high-growth sectors such as Information Technology – Information Technology Enabled Services (IT-ITeS), Banking Financial Services and Insurance (BFSI), healthcare, logistics, green jobs, and electronics.
Union Minister Jayant Chaudhary Initiates Campaign to Build ‘Skills Outcomes Fund’ for Youth LivelihoodsIn April 2026, Union Minister Jayant Chaudhary, Ministry of Skill Development and Entrepreneurship (MSDE), initiated a campaign to establish the Skills Outcomes Fund (SOF), a first-of-its-kind initiative in New Delhi, Delhi, to enhance employment opportunities for youth from low-income backgrounds across India.The initiative aims to launch the SOF to mobilize capital, link skilling to verified employment outcomes for youth, and scale as the world’s largest Outcomes-Based Financing (OBF) initiative.Key Features of SOF:Anchor: Led by National Skill Development Corporation (NSDC) under the MSDE as the nodal implementing agency.Model: Uses blended finance by combining government, private, and philanthropic capital through an outcomes-based financing approach linking payments to verified employment results.Focus: Targets demand-driven, employer-led skilling in high-growth sectors such as Information Technology – Information Technology Enabled Services (IT-ITeS), Banking Financial Services and Insurance (BFSI), healthcare, logistics, green jobs, and electronics.
Union Minister Jayant Chaudhary Initiates Campaign to Build ‘Skills Outcomes Fund’ for Youth LivelihoodsIn April 2026, Union Minister Jayant Chaudhary, Ministry of Skill Development and Entrepreneurship (MSDE), initiated a campaign to establish the S...
Sponsored Advertisement
Cabinet Approves NBS Rates for Kharif 2026, Jaipur Metro Phase-II, and HRRL Refinery ExpansionIn April 2026, the Union Cabinet, chaired by Prime Minister (PM) Narendra Modi, approved a series of significant proposals aimed to strengthen India’s agricultural support systems, enhance urban infrastructure, and boost energy security.Key Approvals: NBS rates for Kharif Season, 2026 on P&K fertilizers: The Union Cabinet approved the proposal of the Department of Fertilizers (DoF) which works under the Ministry of Chemicals and Fertilizers (MoC&F), for fixing the Nutrient Based Subsidy (NBS) rates for Kharif Season, 2026, starting from April 01, 2026 to September 30, 2026, on P&K fertilizers, with tentative budgetary allocation of Rs.41,533.81 crore.Jaipur Metro Project Phase-2: The Union Cabinet has also approved Jaipur Metro Phase-2, a 41 kilometer (km) long corridor connecting Prahladpura to Todi Mod, with an estimated cost Rs 13,037.66 crore. Revised Cost for HRRL Project in Rajasthan: The Cabinet Committee on Economic Affairs (CCEA), chaired by the PM Narendra Modi has approved the revised cost of HPCL Rajasthan Refinery Limited (HRRL) project cost from Rs. 43,129 Crore to Rs.79,459 Crore.In addition, Hindustan Petroleum Corporation Limited (HPCL) will invest additional equity investment of Rs.8,962 crore, following this, the total equity investment by HPCL reaches to Rs.19,600 crore.
Cabinet Approves NBS Rates for Kharif 2026, Jaipur Metro Phase-II, and HRRL Refinery ExpansionIn April 2026, the Union Cabinet, chaired by Prime Minister (PM) Narendra Modi, approved a series of significant proposals aimed to strengthen India’s agricultural support systems, enhance urban infrastructure, and boost energy security.Key Approvals: NBS rates for Kharif Season, 2026 on P&K fertilizers: The Union Cabinet approved the proposal of the Department of Fertilizers (DoF) which works under the Ministry of Chemicals and Fertilizers (MoC&F), for fixing the Nutrient Based Subsidy (NBS) rates for Kharif Season, 2026, starting from April 01, 2026 to September 30, 2026, on P&K fertilizers, with tentative budgetary allocation of Rs.41,533.81 crore.Jaipur Metro Project Phase-2: The Union Cabinet has also approved Jaipur Metro Phase-2, a 41 kilometer (km) long corridor connecting Prahladpura to Todi Mod, with an estimated cost Rs 13,037.66 crore. Revised Cost for HRRL Project in Rajasthan: The Cabinet Committee on Economic Affairs (CCEA), chaired by the PM Narendra Modi has approved the revised cost of HPCL Rajasthan Refinery Limited (HRRL) project cost from Rs. 43,129 Crore to Rs.79,459 Crore.In addition, Hindustan Petroleum Corporation Limited (HPCL) will invest additional equity investment of Rs.8,962 crore, following this, the total equity investment by HPCL reaches to Rs.19,600 crore.
Cabinet Approves NBS Rates for Kharif 2026, Jaipur Metro Phase-II, and HRRL Refinery ExpansionIn April 2026, the Union Cabinet, chaired by Prime Minister (PM) Narendra Modi, approved a series of significant proposals aimed to strengthen India’s agri...
Cabinet Approves Two Mega Hydro Power Projects Worth Rs.40,175.33 Crore in ARIn April 2026, the Cabinet Committee on Economic Affairs (CCEA), chaired by the Prime Minister (PM) Narendra Modi, has approved two mega hydroelectric projects in Arunachal Pradesh (AR) with a combined investment of Rs. 40,175.33 crore to boost renewable energy, strengthen energy security, and promote sustainable development in the North-Eastern region.The projects comprise the 1200 megawatt (MW) Kalai-II Hydro Electric Project (HEP) in Anjaw District and the 1720 MW Kamala HEP across Kamle, Kra Daadi, and Kurung Kumey Districts.About Kalai-II Hydro Electric Project:Project: The CCEA approved Rs.14,105.83 crore for the Kalai-II Hydro Electric Project (HEP) on the Lohit River in Anjaw District, AR, which includes development of around 29 kilometres (km) of roads and bridges to improve local connectivity in Namsai and Anjaw Districts.Capacity: The Kalai-II HEP has an installed capacity of 1,200 MW (6 × 190 MW + 1 × 60 MW), is expected to generate 4,852.95 Million Units (MU) annually, and is planned for completion within 78 months.About Kamala Hydro Electric Project:Investment: The CCEA approved Rs.26,069.50 crore for the Kamala HEP in Kamle, Kra Daadi, and Kurung Kumey Districts, AR, including Rs.4,743.98 crore for flood moderation, Rs.1,340 crore for enabling infrastructure, and Rs.750 crore as Central Financial Assistance (CFA) for the State’s equity share.Capacity: The project has an installed capacity of 1,720 MW (8 × 210 MW + 1 × 40 MW) and is expected to generate 6,870 MU annually, supporting peak demand management, national grid balancing, and flood moderation in the Brahmaputra valley.
Cabinet Approves Two Mega Hydro Power Projects Worth Rs.40,175.33 Crore in ARIn April 2026, the Cabinet Committee on Economic Affairs (CCEA), chaired by the Prime Minister (PM) Narendra Modi, has approved two mega hydroelectric projects in Arunachal Pradesh (AR) with a combined investment of Rs. 40,175.33 crore to boost renewable energy, strengthen energy security, and promote sustainable development in the North-Eastern region.The projects comprise the 1200 megawatt (MW) Kalai-II Hydro Electric Project (HEP) in Anjaw District and the 1720 MW Kamala HEP across Kamle, Kra Daadi, and Kurung Kumey Districts.About Kalai-II Hydro Electric Project:Project: The CCEA approved Rs.14,105.83 crore for the Kalai-II Hydro Electric Project (HEP) on the Lohit River in Anjaw District, AR, which includes development of around 29 kilometres (km) of roads and bridges to improve local connectivity in Namsai and Anjaw Districts.Capacity: The Kalai-II HEP has an installed capacity of 1,200 MW (6 × 190 MW + 1 × 60 MW), is expected to generate 4,852.95 Million Units (MU) annually, and is planned for completion within 78 months.About Kamala Hydro Electric Project:Investment: The CCEA approved Rs.26,069.50 crore for the Kamala HEP in Kamle, Kra Daadi, and Kurung Kumey Districts, AR, including Rs.4,743.98 crore for flood moderation, Rs.1,340 crore for enabling infrastructure, and Rs.750 crore as Central Financial Assistance (CFA) for the State’s equity share.Capacity: The project has an installed capacity of 1,720 MW (8 × 210 MW + 1 × 40 MW) and is expected to generate 6,870 MU annually, supporting peak demand management, national grid balancing, and flood moderation in the Brahmaputra valley.
Cabinet Approves Two Mega Hydro Power Projects Worth Rs.40,175.33 Crore in ARIn April 2026, the Cabinet Committee on Economic Affairs (CCEA), chaired by the Prime Minister (PM) Narendra Modi, has approved two mega hydroelectric projects in Arunachal ...
Sponsored Advertisement
Former Union minister and Veteran Congress Leader Mohsina Kidwai Passed Away On April 8, 2026, Veteran Indian National Congress (INC) leader and former Union Minister Mohsina Kidwai passed away at the age of 94 in Noida, Uttar Pradesh (UP).About Mohsina Kidwai:Member of Parliament(MoP): She served three terms in the Lok Sabha (6th, 7th, and 8th) representing the Meerut constituency from 1978 to 1989.Rajya Sabha: She represented Chhattisgarh in the Rajya Sabha (Upper House) for two consecutive terms between 2004 and 2016.Cabinet Portfolios: Under the leadership of Prime Ministers(PM) Indira Gandhi and Rajiv Gandhi, she held several key portfolios, including Minister of Rural Development, Minister of Health and Family Welfare, Minister of Transport, and Minister of Urban Development.Memoir: Her memoir, ‘My Life in Indian Politics(2024)’, reflects her experiences and insights from decades of public service.
Former Union minister and Veteran Congress Leader Mohsina Kidwai Passed Away On April 8, 2026, Veteran Indian National Congress (INC) leader and former Union Minister Mohsina Kidwai passed away at the age of 94 in Noida, Uttar Pradesh (UP).About Mohsina Kidwai:Member of Parliament(MoP): She served three terms in the Lok Sabha (6th, 7th, and 8th) representing the Meerut constituency from 1978 to 1989.Rajya Sabha: She represented Chhattisgarh in the Rajya Sabha (Upper House) for two consecutive terms between 2004 and 2016.Cabinet Portfolios: Under the leadership of Prime Ministers(PM) Indira Gandhi and Rajiv Gandhi, she held several key portfolios, including Minister of Rural Development, Minister of Health and Family Welfare, Minister of Transport, and Minister of Urban Development.Memoir: Her memoir, ‘My Life in Indian Politics(2024)’, reflects her experiences and insights from decades of public service.
Former Union minister and Veteran Congress Leader Mohsina Kidwai Passed Away On April 8, 2026, Veteran Indian National Congress (INC) leader and former Union Minister Mohsina Kidwai passed away at the age of 94 in Noida, Uttar Pradesh (UP).About Mohs...
CCI Approves Advent’s Proposal to Acquire 14.286% stake in ABHFL In April 2026, the Competition Commission of India (CCI) approved the proposal of Advent International Corporation to acquire a 14.286% stake in Aditya Birla Housing Finance Limited (ABHFL), a wholly-owned subsidiary of Aditya Birla Capital Limited (ABCL) through a preferential issue.This approval follows the decision of the boards of ABCL and ABHFL in February 2026 to approve a capital infusion of Rs 2,750 crore into ABHFL.Key Details of Deal:Acquisition Process: As per the proposed arrangement, Indriya Limited will acquire equity shares amounting to 14.286% of the post-issue paid up equity share capital of ABHFL,on a fully diluted basis.Key Change: Upon completion of the transaction, ABHFL will be valued at Rs 19,250 crore.ABHFL: It is one of India’s fastest-growing Housing Finance Companies (HFCs), engaged in the business of providing home loans, loans against property, construction finance loans, among others.
CCI Approves Advent’s Proposal to Acquire 14.286% stake in ABHFL In April 2026, the Competition Commission of India (CCI) approved the proposal of Advent International Corporation to acquire a 14.286% stake in Aditya Birla Housing Finance Limited (ABHFL), a wholly-owned subsidiary of Aditya Birla Capital Limited (ABCL) through a preferential issue.This approval follows the decision of the boards of ABCL and ABHFL in February 2026 to approve a capital infusion of Rs 2,750 crore into ABHFL.Key Details of Deal:Acquisition Process: As per the proposed arrangement, Indriya Limited will acquire equity shares amounting to 14.286% of the post-issue paid up equity share capital of ABHFL,on a fully diluted basis.Key Change: Upon completion of the transaction, ABHFL will be valued at Rs 19,250 crore.ABHFL: It is one of India’s fastest-growing Housing Finance Companies (HFCs), engaged in the business of providing home loans, loans against property, construction finance loans, among others.
CCI Approves Advent’s Proposal to Acquire 14.286% stake in ABHFL In April 2026, the Competition Commission of India (CCI) approved the proposal of Advent International Corporation to acquire a 14.286% stake in Aditya Birla Housing Finance Limited (A...
Sponsored Advertisement
Vietnam Parliament Re-elects To Lam as PresidentOn 7 April 2026, Tô Lâm, General Secretary of Communist Party of Vietnam (CPV), was unanimously re-elected as the President of Vietnam by the National Assembly of Vietnam (NA) during its 16th session, securing a new five-year term.His new term will run from 2026 to 2031, having served as President since May 2024.Background:Election: The NA elected Tô Lâm (To Lam) as President with 100% support (495/495 deputies present) in the 500-seat assembly.Shift: This development marks a shift in Vietnam’s power structure, as the roles of Party General Secretary and State President have traditionally been held by separate individuals.PM: During the same session, Le Minh Hung, former Governor of the State Bank of Vietnam (SBV), was elected as Prime Minister (PM) of Vietnam.
Vietnam Parliament Re-elects To Lam as PresidentOn 7 April 2026, Tô Lâm, General Secretary of Communist Party of Vietnam (CPV), was unanimously re-elected as the President of Vietnam by the National Assembly of Vietnam (NA) during its 16th session, securing a new five-year term.His new term will run from 2026 to 2031, having served as President since May 2024.Background:Election: The NA elected Tô Lâm (To Lam) as President with 100% support (495/495 deputies present) in the 500-seat assembly.Shift: This development marks a shift in Vietnam’s power structure, as the roles of Party General Secretary and State President have traditionally been held by separate individuals.PM: During the same session, Le Minh Hung, former Governor of the State Bank of Vietnam (SBV), was elected as Prime Minister (PM) of Vietnam.
Vietnam Parliament Re-elects To Lam as PresidentOn 7 April 2026, Tô Lâm, General Secretary of Communist Party of Vietnam (CPV), was unanimously re-elected as the President of Vietnam by the National Assembly of Vietnam (NA) during its 16th session, s...
PNB Signs MoU with GeM to Boost Financial Access for SellersIn April 2026, State-owned Punjab National Bank (PNB) signed a Memorandum of Understanding(MoU) with the Government e-Marketplace (GeM) to strengthen financial access for sellers on the platform.The agreement was signed by Ajit B. Chavan, Additional Chief Executive Officer(CEO), GeM; and Atish Kumar Rout, General Manager (GM) – Digital Business Transformation Division (DBTD), PNB, in New Delhi, Delhi.Key Details of Partnership:MSME Support: This partnership empowers Micro, Small and Medium Enterprises (MSMEs) and small businesses by improving access to timely and affordable formal credit, while ensuring transparency and efficiency through digital, paperless loan processing.Integration: The onboarding of PNB as a lending partner on the GeM Sahay Portal enables sellers to access collateral-free short-term loans against GeM purchase orders, improving liquidity and easing cash flow challenges.Ease of Doing Business: By integrating procurement with financing, the initiative enhances ease of doing business (EoDB), expands vendor participation, and supports the Digital India vision through a seamless and technology-driven procurement ecosystem.Fintech lender KreditBee enters unicorn club with USD280 million pre-IPO funding In April 2026, KreditBee, leading digital lending firm in India, entered the unicorn club by raising USD 280 million in a Series E funding round, with a post-money valuation of USD 1.5 billion ahead of a planned Initial Public Offering (IPO).With this, KreditBee becomes the 3rd unicorn of 2026, after Juspay (in January 2026) and Neysa (in February 2026).Key Details:Key Investors: The funding round was backed by Motilal Oswal Alternates, Hornbill Capital, and Mitsubishi UFJ Financial Group, Inc. (MUFG)-backed Dragon Fund.Funds Utilization: The company plans to use the proceeds to diversify its lending portfolio, bolster its technology stack, and scale Artificial Intelligence (AI) capital to enhance risk assessment and offer new personalized financial products.
PNB Signs MoU with GeM to Boost Financial Access for SellersIn April 2026, State-owned Punjab National Bank (PNB) signed a Memorandum of Understanding(MoU) with the Government e-Marketplace (GeM) to strengthen financial access for sellers on the platform.The agreement was signed by Ajit B. Chavan, Additional Chief Executive Officer(CEO), GeM; and Atish Kumar Rout, General Manager (GM) – Digital Business Transformation Division (DBTD), PNB, in New Delhi, Delhi.Key Details of Partnership:MSME Support: This partnership empowers Micro, Small and Medium Enterprises (MSMEs) and small businesses by improving access to timely and affordable formal credit, while ensuring transparency and efficiency through digital, paperless loan processing.Integration: The onboarding of PNB as a lending partner on the GeM Sahay Portal enables sellers to access collateral-free short-term loans against GeM purchase orders, improving liquidity and easing cash flow challenges.Ease of Doing Business: By integrating procurement with financing, the initiative enhances ease of doing business (EoDB), expands vendor participation, and supports the Digital India vision through a seamless and technology-driven procurement ecosystem.Fintech lender KreditBee enters unicorn club with USD280 million pre-IPO funding In April 2026, KreditBee, leading digital lending firm in India, entered the unicorn club by raising USD 280 million in a Series E funding round, with a post-money valuation of USD 1.5 billion ahead of a planned Initial Public Offering (IPO).With this, KreditBee becomes the 3rd unicorn of 2026, after Juspay (in January 2026) and Neysa (in February 2026).Key Details:Key Investors: The funding round was backed by Motilal Oswal Alternates, Hornbill Capital, and Mitsubishi UFJ Financial Group, Inc. (MUFG)-backed Dragon Fund.Funds Utilization: The company plans to use the proceeds to diversify its lending portfolio, bolster its technology stack, and scale Artificial Intelligence (AI) capital to enhance risk assessment and offer new personalized financial products.
PNB Signs MoU with GeM to Boost Financial Access for SellersIn April 2026, State-owned Punjab National Bank (PNB) signed a Memorandum of Understanding(MoU) with the Government e-Marketplace (GeM) to strengthen financial access for sellers on the plat...
Sponsored Advertisement