Kinara Capital, a social impact fintech driving financial inclusion of India’s small business entrepreneurs, today announced securing EUR 8 million (~INR 70 crores) from Invest in Visions GmbH (IIV), pioneers of microfinance investments in Germany. Agents for Impact, a sustainability connector of investors and social impact organizations, arranged this transaction for Invest in Visions and managed all commercial and legal aspects of this transaction for Invest in Visions from start to finish. Classified as an ESG Impact Fund by the European Union, Kinara Capital will further IIV’s Microfinance fund’s mandate of enabling credit access to small businesses.
Kinara Capital receives fund from Invest in Visions GmbH (IIV) Microfinance Fund, with Support from Agents for Impact (AFI)
Kinara has accelerated early access to credit with data-based credit decisioning and fully digital processes that facilitate a 24-hour turnaround time from loan application to loan disbursements. Fast access to capital without property collateral addresses the primary obstacles faced by the micro-small-medium enterprise (MSME) sector in India. This fund will unlock access for hundreds of MSMEs to get loans in the range of Rs. 1-30 lakhs. In addition, Kinara’s HerVikas program for women entrepreneurs is addressing systemic inequalities and providing an upfront discount on collateral-free business loans.
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Invest in Visions GmbH established the first microfinance fund in Germany and since has expanded to specializing in SME financing, renewables and education. IIV seeks to invest in ethical organizations that can demonstrate sustainable profitability and social impact. AFI plays the crucial role of advising IIV on loan transactions wherein it, inter-alia, conducts verification and plausibility check of investee organizations based on the German Federal Financial Supervisory Authority’s recommendation to assess sustainability risk and its ability to deliver measurable social impact.
“Kinara Capital and Invest in Visions GmbH started our journeys a decade ago and our paths have finally crossed. We are joining hands to enable financial inclusion of even more MSMEs in India. Dedicated support from Agents for Impact to execute this transaction underscores our transparent processes and our focus on achieving measurable social impact. We are honored to partner with both IIV and AFI whose goals align extremely well with ours,” said Hardika Shah, Founder & CEO, Kinara Capital.
“IIV is pleased to partner with innovative leader Kinara Capital that is creating possibilities for the underserved small businesses in India. We recognized the immediate impact that access to credit can have on the local economy with quick income generation, so micro and small business financing in developing nations has always been our top priority. AFI eased the transaction for us by conducting a full assessment so that we confidently entered into the deal knowing that our Microfinance fund’s directive will be met in India,” said Edda Schrder, Founder and Managing Director, Invest in Visions GmbH (IIV).
“We are thrilled to have supported both IIV and Kinara Capital in their aligned mission of financial inclusion. Our goal is to perfectly match the needs and requirements of ESG investors and social impact organizations. In this case, we conducted a due diligence of processes and practices, and mapped social impact performance with consideration for the ground reality in India. Our efforts bring peace of mind to both parties so that they can focus on what they do best to service micro & small business entrepreneurs,” said, Dr. Andrij Fetsun, CEO of Agents for Impact (AFI).
Partnership between Kinara Capital, Invest in Visions GmbH (IIV), and Agents for Impact (AFI) to advance financial inclusion will meet multiple United Nations Sustainable Development Goals (UN SDGs), with primary UN SDGs 5, 8, 10 and secondary UN SDGs 1, 2, 3, 4, 9.
About Invest in Visions GmbH (IIV)
Founded in 2006 by Edda Schrder, Invest in Visions GmbH specializes in financing sustainable investments. Currently, more than 921 million euros are managed in the core areas of microfinance and Impact Investing (as of September 30, 2021). Invest in Visions provides institutional and private investors with access to investments that offer social returns in addition to financial returns, and which have a positive impact on society and the environment.
About Agents for Impact (AFI)
Founded in 2018, Agents for Impact is a Germany-based Impact investing company. AFI offers premium impact investment solutions, sustainability consulting and impact measurement services tailor-made for clients in the sustainable finance industry. Agents of AFI are spread across Africa, India, Southeast Asia, Central Asia and Europe each skilled with in-depth technical expertise and in close geographical proximity to our key partners and target countries to ensure enhanced support. AFI pursues positive impact, contributing to the achievement of SDGs as the common reference framework for sustainable development.
Find out more here! www.linkedin.com/company/agents-for-impact.
About Kinara Capital
Kinara Capital is a fast-growing fintech propelling financial inclusion of small business entrepreneurs in India. Kinara has disbursed more than INR 2400 crores in collateral-free business loans to MSMEs in India. The cumulative impact of more than 65,000 loans to date has led to an incremental income generation of $100 million for the entrepreneurs and supported over 250,000 jobs in local economies. Globally recognized for its innovative approach, Kinara Capital has earned the ‘Bank of the Year-Asia‘ award from IFC, is ranked among the ‘Top 100 High-Growth Companies in Asia-Pacific‘ by the Financial Times and named among ‘India’s Growth Champions‘ by the Economic Times. Kinara boasts a women-majority management team and is qualified as a ‘Systemically Important NBFC‘ by the Reserve Bank of India. Headquartered in Bangalore, Kinara Capital has 110 branches across 90+ cities in India. Kinara Capital is a debt listed entity on the Bombay Stock Exchange (BSE). Click here for more information kinaracapital.com and follow us on Twitter @KinaraCapital
This press release may contain projections and other forward-looking statements regarding future events or future financial performance. These statements are only predictions and reflect our current beliefs and expectations with respect to future events and are based on assumptions and subject to risk and uncertainties and subject to change at any time. Given business risks and uncertainties, undue reliance on these forward-looking statements should not be placed. Actual events or results may differ materially from those contained in the projections or forward-looking statements.
Eco-friendly Housing Essentials that a Homebuyer Needs to Focus on
As the world reels from the damaging effects of climate change, every bit done to minimise environmental degradation will go a long way in saving the planet. With consumers becoming more environmentally conscious, one’s home is the best place to begin making a difference.
Among the top requirements for a clean and green living space are green buildings, larger and well-ventilated living areas, efficient ways to reduce, reuse and recycle, renewable energy technologies, and provision for sewage disposal. Don’t forget to check if your developer has these features in the project with the home you’ve set your heart on.
“There’s a growing demand for housing in major cities across India. Homebuyers are increasingly preferring homes in projects with a lot of green spaces within them. Communities built with a focus on energy savings, waste reduction, along with a abundant green landscaping, can address concerns of climate change, global warming, and the lack of green spaces in cities,” says Vikram Chari – CEO of SmartOwner and Prime One Corp, as he takes us through these five eco-friendly housing essentials that a homebuyer can focus on while deciding on his or her next home.
Green buildings – Globally, every sector is trying to incorporate more environment friendly methods and business practices and real estate players are not far behind. By designing projects that adhere to the highest carbon emission norms and providing more green spaces across the property, some new-age developers are setting a high benchmark for others to follow. As per some estimates, green projects have better indoor air quality with a low concentration of pollutants. The project you are considering ideally needs to create a positive environmental impact and include sustainable practices at every stage of development – from ideation, planning, and right through to the completion of construction.
Large windows – Large windows, especially floor to lintel height ones are the most under-rated essentials when it comes to eco-friendly living. They not only ventilate the home but also light up your home reducing dependence on lights thereby reducing the usage of non-renewable energy.
Reducing waste – With global warming becoming a harsh reality, most companies are making a conscious effort to reduce, reuse, and recycle waste of all types. As a homeowner, you can look for developers who incorporate dedicated spaces in the projects for collection and segregation of dry and wet waste. Developers must also dispose of all construction waste such as concrete, rubble, metal, wood, plastics responsibly.
Solar living – Renewable energy technology such as solar panels and usage of thermal windows in projects can make homes energy efficient. Thermal windows ensure insulation from extreme weather conditions, thereby reducing the dependency on artificial heating and cooling. Studies show that homes with solar panels and thermal windows could reduce energy consumption by almost a third of those of homes without these features.
Sewage disposal – Efficient sewage treatment and disposal is a feature that most developers of large-sized projects have already incorporated in their projects. You should look for projects that not only have Sewage Treatment Plants (STP), but also with sufficient capacity to handle the quantum of waste generated by the community when fully occupied. Prime One Corp is among the developers who have ensured all their projects have more than sufficient capacities in their sewage treatment plants, along with other eco-friendly features listed above.
These environment-friendly features by developers in the ever-growing real estate sector will play a significant role in combating climate change.
Bharat Petroleum Corporation Limited Announces Appointment of Five Independent Directors on Board
Bharat Petroleum Corporation Limited (BPCL) has announced the appointment of Shri Pradeep Vishambhar Agrawal, Shri Ghanshyam Sher, Dr. (Smt) Aiswarya Biswal, Prof. Bhagwati Prasad Saraswat and Shri Gopal Krishna Agarwal, as Independent Directors on the Board for a period of three years from the date of notification of their appointment or until further orders. Accordingly, they are appointed as Directors on the Board w.e.f. 12.11.2021.
Newly Appointed Independent Directors on the Board of BPCL
Shri Pradeep Vishambhar Agrawal is a Chartered Accountant and a Company Secretary. His fields of specialization are Finance, Business and Administration. He is a Managing Director in a pharmaceutical company and is in the Board of various other companies. He is also engaged in social activities and is a Director of two Section 8 (not for profit) companies. He also acts as a Trustee of the various Trusts.
Shri Ghanshyam Sher is M.Com, M.A. in Political Science, M.A. in Economics and L.L.B. He is an Advocate. He specializes in Legal advice and Social Service. He has gained administrative experience through various public associations. He has been honored with various awards by renowned personalities.
Dr. (Smt.) Aiswarya Biswal did her Bachelor of Dental Surgery from Utkal University and masters in Management from University of Liverpool, United Kingdom. She received honours in Strategic Management, which encouraged her to pursue her research in extraordinary leadership in University of Liverpool. As a Dentist, she took keen interest in organising various dental camps for the underprivileged and marginalised community both in urban and rural sector. She is a pioneer in awareness and prevention of Oral cancer and preventable dental diseases. Her special interest lies in eradicating of malnutrition and her articles on malnutrition were well received, simultaneously she has organised various awareness programs and seminars to curbs the debilitating effects of malnutrition. She is a well-known columnist and has been contributing her articles in various journals and newspapers internationally, nationally and regionally like Daily Pioneer, Outlook, & Sambad etc. She is a bilingual poet (English and Hindi) and has written two books. She was the Former Editor of Odisha Society of United Kingdom journal as well. She has been actively involved in many philanthropic work especially in Indian diaspora of U.K. and in India as well. She is also associated with various cultural, social and literary organisations worldwide.
Prof. (Dr.) Bhagwati Prasad Saraswat is M.Com, (Gold Medalist). He has done his Ph.D in Financial Evolution of Drugs & Pharmaceutical Companies in India. He was a Dean and Head of Faculty of Commerce/Department of Commerce, Maharshi Dayanand Saraswati University, Ajmer and has teaching experience of more than 38 years. He has held various academic and administrative responsibilities during his academic career such as Director of Center for Entrepreneurship & Small Business Management, Maharshi Dayanand Saraswati University, Ajmer, Joint Conference Secretary, Controller of Examination organized by Indian Commerce Association, Coordinator of various exams, Registrar of Maharshi Dayanand Saraswati University, Ajmer, and Member of Board of management and selection committees of various Universities He has published various books and papers, and has presented his papers in various prestigious conferences/seminars and attended various national/international conferences. He has also been editor of academic bodies of journals.
Shri Gopal Krishna Agarwal is a fellow member of the Institute of Chartered Accountant of India (ICAI). He has done his post graduate in MA economics and graduation in BCom (Hons). He is an Economic thinker and writes extensively for newspaper, financial journals and delivers lectures in seminars & conferences. He has co-authored a book ‘Water an Element of Life: Price Sensitivity and Consumption by the Marginalisedpublished by Bloomsbury India. He was a Member of Board of Governors at the Indian Institute of Corporate Affairs (IICA), a think tank of GoI. He was a member of the Task Force on MSME of the Ministry of Finance and Former Director on the Board of Bank of Baroda (BOB) & North Eastern Electric Power Co. (NEEPCO). He was government nominee on the Central Council of The Institute of company secretaries of India (ICSI). He is an independent director on the board of ICSI (IIP). He is a trustee of India Policy Foundation and Dr. Mookherjee Smriti Nyas, (think tanks). He has initiated various public welfare projects like Jaladhikar Foundation, Nagrik Manch, Shree Jee Gausadan, Milk Cooperative Movement etc.
About Bharat Petroleum Corporation Ltd. (BPCL)
A Fortune Global 500 Company, Bharat Petroleum is the second largest Indian Oil Marketing Company and one of the premier integrated energy companies in India, engaged in refining of crude oil and marketing of petroleum products, with a significant presence in the upstream and downstream sectors of the oil and gas industry. The company attained the coveted Maharatna status, joining the elite club of companies having greater operational & financial autonomy.
Bharat Petroleum’s Refineries at Mumbai & Kochi and subsidiary Bharat Oman Refineries Ltd., at Bina, Madhya Pradesh have a combined refining capacity of around 35.3 MMTPA. Its marketing infrastructure includes a network of installations, depots, retail outlets, aviation service stations and LPG distributors. Its distribution network comprises over 19,000 Retail Outlets, over 6,100 LPG distributorships, 733 Lubes distributorships, 123 POL storage locations, 53 LPG Bottling Plants, 60 Aviation Service Stations, 3 Lube blending plants and 4 cross-country pipelines.
With a focus on sustainable solutions, the company is developing a vibrant ecosystem. Bharat Petroleum has been partnering communities by supporting innumerable initiatives connected primarily in the areas of education, water conservation, skill development, health, community development, capacity building and employee volunteering. With ‘Energising Lives‘ as its core purpose, Bharat Petroleum’s vision is to be the most admired global energy company leveraging talent, innovation & technology.
Top Five Upcoming Developers Changing the Skyline of Delhi NCR
MRG World (Gurugram), Whiteland Corporation (Gurugram), Maasters Infra (Noida), SKA Group (Noida), and Axon Developers emerged as the ‘Top Five Emerging Developers of NCR‘ in the list announced by a Delhi-based research firm.
Real estate survey declares top five developers
The survey was conducted by International Brand & Research Forum (IBRF) across the region with a special focus on projects launched, projects delivered, and progress of the projects as per RERA; IBRF researched the quality & feedback index on various parameters to come up with the result. The prime focus was on the developers operating in Noida and Gurugram market.
Maasters Infra Group, instituted by seasoned professionals and under the patronage of five-decade-old infra company K. R. A. Engineers & Contractors, announced their first commercial project Maasters Capitol Avenue spread over 5 acres in Sector 63, Noida. The project will have office space and retail; the projects total area would be 10,00,000 sq. ft. to be completed in 42 to 45 months. The company says that the total sales realization from the project is between Rs. 800 crore to Rs. 1,000 crore. The Group is also coming up with a residential project and one IT project.
Whiteland Corporation, a real estate development company founded by industry stalwart, Mr. Navdeep JP Sardana unveiled the first look of their maiden commercial project Urban Cubes 71 recently in Gurugram. Some of the brands signed, include Striker, Beer Cafe, Nostalgia, Houz cafe & bar. The project on Golf Course Road extension, Sector 71, Gurugram, is on a land parcel of about 3 acres acquired from DLF. Urban Cubes 71 is an approved SCO (Shop-cum-Office) development with a total of 34 state-of-art buildings with maximum development facing the main road making it highly attractive. The project is slated to be delivered by October 2022 with a total salable area of 4.5 lac sq. ft. and projected sales value of Rs. 500 crore.
Realty firm Axon Developers, which has been newly set up by promoters of brokerage firm 360 Realtors, has recently taken over two stressed real estate projects in Delhi-NCR and will invest over Rs. 300 crore to complete them. The company has entered into a development agreement to complete Keltech Kumar Imperial Green project, comprising 350 flats at Noida extension in Uttar Pradesh. It has fully acquired a retail project Manish Gallexie 91, having 3.5 lakh square feet saleable area, in Gurugram from Manish Buildwell. The company expects a sales realisation of around Rs. 650 crore from these two projects, of which Rs. 500 crore will come from retail project. Axon Developers is looking at acquiring more projects in Delhi, Noida, Gurugram and Lucknow, both through greenfield and brownfield routes.
SKA GROUP was formed with a view to construct group housing society in Greater Noida-West. SKA Group was started in the year 2012. Recently, the Group announced its luxury residential project, SKA Orion in Sector-143, Noida. Spread over 3.5 acres, the cost of the project is Rs. 400 crore out of which Rs. 300 crore is the cost of construction and Rs. 100 crore is the land cost. The Group is looking at total sales realisation of approximately Rs. 450 crore. To be developed in single phase, the project has 508 units of 3 BHK configuration; the company has launched 380 units of the total stock and will complete the project by 2026. The company has completed four projects in Noida, Greater Noida, and Ghaziabad. All projects are completed before time. Presently, five projects are in progress and all projects are ahead of their schedule.
Catering to the affordable housing segment, MRG World has ensured that they live up to the expectations of the middle class to move into their abodes as soon as possible. The directors – Rajat Goel & Vikas Garg – set up the company with a motive to cater to the segment that has the maximum demand. From the initial days, MRG World ensured that they deliver projects before the promised deadline. The company at the onset decided to stick to the policy of delivering the projects before time. MRG world has sold out three projects in Gurugram – Meridien (755), Ultimus (720), and Balcony (730). The company will deliver these projects ahead of the scheduled deadline in 2022 – Balcony by March 2022, Meridien and Ultimus by December 2022. The company has plans to come up with a project in 30-40 acre with around 6,000 flats in the affordable segment.
- Eco-friendly Housing Essentials that a Homebuyer Needs to Focus on
- Bharat Petroleum Corporation Limited Announces Appointment of Five Independent Directors on Board
- Top Five Upcoming Developers Changing the Skyline of Delhi NCR
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