Category: Finance

Finance

HDFC Bank Inaugurates Tech & Digital Factory in Guwahati to Boost AI and Cybersecurity Talent

Swara Bodke

Written by Intern Swara Bodke || Team Allycaral

India, 2026: HDFC Bank, India’s leading private sector bank, has inaugurated its new Tech & Digital Factory in Guwahati, marking its first such facility in Assam and the fourth nationwide. The bank already operates similar Tech & Digital Factories in Mumbai, Bengaluru and Gurugram.
The new centre will serve as a hub for advanced technology development, innovation and talent incubation in Assam. It aims to strengthen talent pools in Artificial Intelligence (AI), Digital technologies and Cybersecurity, while building capabilities in Cloud, Data and core engineering tracks. The initiative is also expected to enhance digital product creation capabilities in the state.
The facility was inaugurated by Assam Chief Minister Himanta Biswa Sarma in the presence of Mr. Kaizad Bharucha, Deputy Managing Director – HDFC Bank, Mr. Ramesh Lakshminarayan, Chief Information Officer – HDFC Bank, dignitaries from the Government of Assam, members from participating educational institutions, and officers of the bank.


The Tech & Digital Factory will generate career opportunities for skilled professionals in Assam, enabling them to contribute directly to next-generation technology development while remaining in their home state.
The initiative is part of Advantage Assam 2.0, under which HDFC Bank partnered with the Government of Assam. The collaboration focuses on enhancing academic knowledge with industry expertise through a structured skill-building curriculum tailored to the BFSI and fintech sectors.
Centred on campus-to-corporate competency, the programme aligns with job requirements in banking and fintech industries. The curriculum includes essential banking knowledge along with new-age IT domains.
The programme commenced in September 2025, and over 150 students are currently being trained under the cohort. Participants will receive industry-relevant knowledge and hands-on experience from senior HDFC Bank executives.
Students enrolled in the programme will also undergo internships with HDFC Bank for a duration of 2 to 4 months. This will allow them to apply academic and technological concepts in real-world corporate scenarios. Importantly, the course is offered at no additional cost to students.
Commenting on the development, Mr. Kaizad Bharucha, Deputy Managing Director, HDFC Bank, said that the Bank had signed an MoU with the Assam Government at Advantage Assam 2.0 in February 2025 and was pleased to establish the facility within a year, supported strongly by the state government. He added that the new centre would enable the rollout of innovative digital products and services while attracting engineering talent from Assam to contribute to next-generation banking technology.
HDFC Bank’s Tech & Digital Factory model continues to function as the nucleus of digital execution, with dedicated units focused on experience design, mobile and cloud engineering, APIs and orchestration, data and GenAI, and secure-by-design architecture.
HDFC Bank began its journey in Assam in 2004 with the launch of its first branch in Guwahati. Since then, the Bank has expanded to 138 branches and 248 ATMs across the state as of December 31, 2025. According to the State Level Banker’s Committee (SLBC) report, the Bank’s Credit-Deposit (CD) ratio in Assam stood at 85.78% as of the same date.

Finance

IDBI Bank Launches ‘Aarogya Fixed Deposit’ Offering ₹15 Lakh Health Insurance Cover

Tanisha Cardozo

IDBI Bank has announced the launch of its ‘Aarogya Fixed Deposit’ scheme, a distinctive financial product that combines assured fixed deposit returns with health insurance coverage, reinforcing the bank’s commitment to enhancing customer well-being alongside financial security.

Under the scheme, customers can invest a fixed amount of ₹7.50 lakh for a tenure of 370 days and receive health insurance coverage of up to ₹15 lakh in addition to earning interest on the fixed deposit. The health insurance component is provided through Care Health Insurance, which has been identified as the insurance partner for the product.

The Aarogya Fixed Deposit is exclusively designed for resident individual customers between the ages of 18 years and 58 years 11 months. By integrating a traditional savings instrument with a substantial health insurance benefit, the scheme aims to offer a holistic financial solution that addresses both wealth creation and healthcare security.

Speaking on the launch, Shri Sumit Phakka, Deputy Managing Director at IDBI Bank, said the initiative reflects the bank’s continued focus on customer-centric innovation. He noted that by combining assured returns with meaningful health insurance coverage, the bank is offering a solution that supports both financial stability and health protection.

The introduction of the Aarogya Fixed Deposit comes at a time when individuals are increasingly prioritizing comprehensive financial planning that includes health risk mitigation. With healthcare costs rising steadily, the integration of insurance benefits into traditional banking products represents a strategic step toward providing customers with integrated financial solutions.

Through this offering, IDBI Bank seeks to differentiate itself in the competitive banking landscape by delivering added value beyond conventional deposit schemes. The Aarogya Fixed Deposit underscores the growing trend of financial institutions developing hybrid products that align savings with essential protection needs, strengthening customers’ financial resilience in an uncertain environment.

Finance

Kotak Mutual Fund Launches Kotak Services Fund to Tap India’s Expanding Services Economy

Swara Bodke

Written by Intern Swara Bodke || Team Allycaral

Kotak Mahindra Asset Management Company Ltd. has announced the launch of the Kotak Services Fund, an open-ended equity scheme following the services theme. The New Fund Offer (NFO) opens on February 4, 2026, and closes on February 18, 2026, providing investors an opportunity to participate in India’s fast-growing services sector, which contributes nearly 55 per cent to the country’s Gross Value Added (GVA) and employs about 31.5 per cent of the workforce.
India’s services economy spans a wide range of sectors including consumer services, telecom, healthcare, logistics, financial services, information technology, power, and oil and gas, many of which are scaling rapidly and unlocking multiple structural growth drivers for long-term investors.
The Kotak Services Fund seeks to capture this opportunity through a disciplined investment approach anchored in Growth at Reasonable Price (GARP) and a bottom-up Business-Management-Value (BMV) framework. The fund will invest across market capitalisations, focusing on quality businesses with strong cash flows, scalable business models, and long-term compounding potential.


Commenting on the launch, Mr. Nilesh Shah, Managing Director, Kotak Mahindra Asset Management Company Ltd., said India’s services economy is undergoing a structural transformation driven by rising incomes, increased digital adoption, and expanding urbanisation. He added that these forces are reshaping consumption patterns and access to essential services, and the fund aims to capture evolving opportunities within the services ecosystem to deliver long-term value to investors.
Mr. Rohit Tandon, Fund Manager for the Kotak Services Fund, said the services theme offers a blend of stability and growth across consumption-driven and export-driven segments. He noted that the sector presents a compelling combination of resilience and scalability, and the fund’s portfolio construction will focus on companies capable of sustaining margins, upgrading business models, and deploying capital prudently for long-term wealth creation.
The fund is being launched at a time when service-oriented enterprises are redefining how households, businesses, and institutions operate. With evolving customer expectations and advancements in service delivery models, the sector continues to witness strong growth driven by specialisation, technology-enabled processes, and operational efficiency.
The NFO offers a minimum investment of ₹1,000 and in multiples thereafter during the offer period. The scheme is suitable for investors seeking long-term capital appreciation through a diversified portfolio of companies engaged in service-oriented businesses, as per the product suitability disclosures.

Finance

Union Budget 2026’s Infrastructure Push to Boost Real Estate Demand: Gaurav Pandey

Swara Bodke

Written by Intern Swara Bodke || Team Allycaral

Commenting on the Union Budget 2026, Mr. Gaurav Pandey, Co-Chairman, FICCI Committee on Urban Development and Real Estate, and Managing Director & CEO of Godrej Properties, said the budget continues a strong focus on infrastructure-led growth, marked by a record capital expenditure of INR 12.2 lakh crore.


He noted that the sustained emphasis on urban development, connectivity, and city-led growth reflects the government’s long-term vision for economic expansion. Measures such as the Infrastructure Risk Guarantee Fund, expansion of transport corridors, and support for city economic regions are expected to have a positive impact on real estate demand over the medium term.
Mr. Pandey further stated that the government’s commitment to fiscal discipline and long-term growth creates a stable macroeconomic foundation, strengthening confidence across sectors and supporting sustained economic expansion.

Finance

Gold Price Today: MCX Rates Jump 9% to Record High; Is It the Right Time to Buy?

allycaralgoa

Written by Alisha Fernandes || Allycaral

Gold prices soared to record levels on the Multi Commodity Exchange (MCX) on Thursday, January 29, driven by robust retail demand, a weakening US dollar, and heightened geopolitical uncertainty. The rally comes even as the US Federal Reserve maintained its policy rates, with markets continuing to price in possible rate cuts later this year.

MCX gold February futures surged by over ₹14,850, or nearly 9%, to touch an all-time high of ₹1,80,779 per 10 grams. Silver prices followed suit, with MCX silver March futures jumping more than ₹23,100, or 6%, to a record ₹4,08,487 per kg.

In the international market, gold prices climbed closer to $5,600 per troy ounce, while silver approached the $120 mark, supported by increased safe-haven buying. The dollar index slipped more than 0.30%, making precious metals cheaper for overseas buyers and further boosting demand.

The US Federal Open Market Committee (FOMC) on January 28 kept the federal funds rate unchanged at 3.5%–3.75%, a decision that was largely anticipated by the markets. Analysts noted that the Fed’s stance had limited impact on gold prices, as geopolitical developments — particularly rising tensions between the US and Iran — took centre stage.

Market expert Manoj Kumar Jain of Prithvifinmart Commodity Research said safe-haven buying remains strong amid global uncertainty. He noted that while the Fed signalled no immediate rate hikes and indicated room for future monetary easing, tariff-driven inflation continues to persist, lending support to precious metal prices.

On whether this is the right time to buy gold, Jain expects continued volatility in the near term, influenced by movements in the dollar index, upcoming US jobless claims data, and geopolitical developments.

He recommends buying gold as long as it holds the ₹1,64,400 per 10 grams level on a closing basis, with upside targets of ₹1,70,000 and ₹1,75,000. For silver, he suggests buying while prices remain above ₹3,64,000, targeting ₹4,00,000–₹4,10,000.

On the global front, Jain highlighted key technical levels — gold has support at $5,220 and $5,140, with resistance at $5,500 and $5,650 per troy ounce. Silver support stands at $110 and $106.60, while resistance lies at $118 and $123.

With markets navigating uncertainty on multiple fronts, gold and silver are likely to remain volatile but well-supported in the near term.