Tag: Finance

Finance

HDFC Bank Integrates Digital Rupee (e₹) into SmartGateway Payment Platform

Tanisha Cardozo

Written by Tanisha Cardozo || Team Allycaral

HDFC Bank has announced the integration of the Reserve Bank of India’s Central Bank Digital Currency, the Digital Rupee (e₹), into its online merchant payment platform, SmartGateway, marking a significant step in expanding India’s digital payments ecosystem. The move enables merchants to offer customers a secure, sovereign-backed digital payment option directly within the HDFC Bank checkout experience.

With this integration, merchants using SmartGateway can now accept payments through the Digital Rupee at zero transaction cost, in addition to existing payment modes such as UPI, cards, and net banking. The enhancement is designed to provide customers with a seamless payment experience that is instant, secure, and free of intermediary charges.

As of December 2025, HDFC Bank is among the pilot banks participating in the RBI’s CBDC initiative, servicing approximately 8.45 lakh registered Digital Rupee wallets. The bank continues to see steady adoption, with nearly 13,000 to 15,000 new wallets being added every month, reflecting growing consumer and merchant confidence in the emerging digital currency.

For merchants, zero-cost acceptance of CBDC presents a future-ready payment option that offers improved settlement certainty and reduced operational overheads by eliminating intermediaries. For consumers, the Digital Rupee combines the convenience and speed associated with UPI with the added trust and assurance of an RBI-backed sovereign digital currency, ensuring fast and secure transactions.

By enabling CBDC acceptance on SmartGateway, HDFC Bank is expanding the choice of digital payment options available to customers while extending the benefits of the Digital Rupee to a broader base of businesses. The initiative underscores the bank’s digital-first approach and its continued focus on innovation in the payments space.

This integration further reinforces HDFC Bank’s commitment to supporting India’s transition towards a cash-light, inclusive digital economy, while positioning SmartGateway as a comprehensive and future-ready payment platform aligned with the country’s evolving financial landscape.

Social

Canara Robeco AMC Launches ‘Nivesh Bus Yatra’ Across Maharashtra and Goa to Educate Investors

Tanisha Cardozo

Written by Tanisha Cardozo || Team Allycaral

Canara Robeco Asset Management Company Limited, the investment manager to Canara Robeco Mutual Fund and India’s second-oldest mutual fund house, has launched the ‘Nivesh Bus Yatra’ across Maharashtra and Goa to promote investor education and financial literacy. The initiative aims to simplify mutual fund investing, clear common misconceptions, and encourage long-term wealth creation by directly engaging with communities.

The Nivesh Bus Yatra will operate through two dedicated routes across Maharashtra before concluding in Goa. One bus commenced its journey from Pune, covering key cities including Nashik, Aurangabad, Jalna, Akola, and Nagpur, while the second bus began from Kolhapur, travelling through Ratnagiri, Kankavli, Kudal, and Sawantwadi before reaching Goa. The buses will visit prominent community locations, allowing residents to interact with experts and gain practical insights into mutual fund investments.

Speaking on the initiative, Rajnish Narula, Managing Director and Chief Executive Officer of Canara Robeco AMC, highlighted the importance of informed investing in today’s evolving financial landscape. He stated that an informed investor not only makes better financial decisions but also contributes to strengthening the broader financial ecosystem. He added that the Nivesh Bus Yatra is designed to take financial education directly to people, making investment knowledge accessible, actionable, and relevant to everyday life.

Gaurav Goyal, Head – Sales & Marketing at Canara Robeco AMC, emphasised that the initiative reflects the organisation’s commitment to empowering investors through practical and community-focused education. He noted that by engaging investors in their own environments, the initiative aims to simplify investing concepts, address doubts, and encourage disciplined, long-term financial planning.

Through interactive sessions, simple demonstrations, and digital tools, the Nivesh Bus Yatra seeks to build investor confidence and promote responsible investing habits. The initiative reinforces Canara Robeco AMC’s ongoing efforts to strengthen financial inclusion and investor awareness across emerging and underserved regions in India.

TechPulse

Goa Strengthens Startup Ecosystem with 10th Empowered Committee Meet Under Startup Policy 2025

Tanisha Cardozo

Written by Tanisha Cardozo || Team Allycaral

The Department of Information Technology, Electronics and Communication (DITE&C), Government of Goa, convened the 10th Empowered Committee Meeting at the Conference Hall, Mantralaya, Porvorim, to review and evaluate applications under the Seed Capital Grant Scheme of the Goa Startup Policy 2025. The meeting marked another significant step in the state’s ongoing efforts to strengthen its startup ecosystem and promote innovation-driven entrepreneurship.

The committee was chaired by Dr. Pramod Sawant, Hon’ble Chief Minister of Goa, and co-chaired by Shri Rohan Khaunte, Hon’ble Minister for IT, Electronics and Communications. Senior government officials and industry leaders were present, including representatives from the Department of Industries, Directorate of Education, ITG, GCCI, Goa Technology Association and leading technology firms, ensuring a comprehensive evaluation process backed by policy, industry and academic perspectives.

The Seed Capital Grant Scheme, a flagship initiative under the Goa Startup Policy 2025, provides one-time financial assistance of up to ₹10 lakh to startups that have developed a Minimum Viable Product. A total of 27 applications were received by the Startup and IT Promotion Cell, which were scrutinised by an Expert Committee before being placed before the Empowered Committee. After detailed discussions and evaluations based on innovation, feasibility, scalability, revenue potential and long-term sustainability, 16 startups were shortlisted, of which eight were selected for funding.

The selected startups represent a wide spectrum of emerging sectors, including artificial intelligence, healthcare, construction technology, tourism discovery, digital accessibility, micro-task platforms and regional OTT content. Each of these ventures showcased solutions developed in Goa, reflecting the state’s growing capability to nurture homegrown innovation with national and global potential.

Speaking on the occasion, Shri Rohan Khaunte highlighted that the quality of ideas presented reaffirmed Goa’s position as an emerging startup destination in India. He emphasised that early-stage financial support through the Seed Capital Grant Scheme plays a crucial role in helping founders transition from ideas to scalable enterprises, while also reinforcing the government’s commitment to building a long-term innovation-friendly environment in the state.

In addition to startup funding, the meeting also focused on encouraging innovation at the academic level. Cheques of ₹50,000 each were presented to 10 student projects under the newly launched Campus Innovation Scheme. Five engineering colleges across Goa received funding for projects spanning advanced biomedical research, artificial intelligence applications, agriculture technology, drone-based security systems, assistive wearable devices and sustainable manufacturing solutions.

The growing participation in these schemes reflects Goa’s increasing appeal as a startup and innovation hub. Through initiatives like the Seed Capital Grant Scheme and Campus Innovation Scheme, the Government of Goa continues to invest in ideas, talent and technology, creating an enabling ecosystem where startups and young innovators can build, scale and succeed from Goa.

Automobiles

Škoda Auto India Clocks Record-Breaking Year with 107% Growth in Its 25th Anniversary

Tanisha Cardozo

Written by Tanisha Cardozo || Team Allycaral

Škoda Auto India marked 2025 as the most defining year in its journey in the country, celebrating its 25th anniversary with its strongest sales performance ever. The brand closed the year with 72,665 cars sold, registering an impressive 107% year-on-year growth compared to 35,166 units in 2024. This milestone performance stands as Škoda Auto India’s biggest year to date, driven by a powerful product portfolio, wider market presence and a renewed focus on customer trust.

Reflecting on the achievement, Brand Director Ashish Gupta described 2025 as a truly special year, highlighting the brand’s most diverse product range, its widest network reach, and the strong emotional bond shared with customers. The overwhelming response to the Kylaq significantly expanded the brand’s accessibility, while continued demand for the Kodiaq, Kushaq and Slavia sustained momentum across key segments. The return of the Octavia RS further reinforced Škoda’s performance legacy, receiving extraordinary enthusiasm from car enthusiasts across the country.

The brand’s growth was supported by a clear product and network strategy. During the year, Škoda Auto India crossed the milestone of over 200,000 locally produced cars sold since 2021 and expanded its footprint to more than 325 customer touchpoints across 183 cities. This expansion strengthened the brand’s mission of democratising European engineering across India, achieved through long-standing dealer partnerships and the addition of new partners with a strong customer-centric focus.

Beyond products, Škoda Auto India strengthened its brand identity and customer engagement through cultural relevance and storytelling. India became the first major global market to complete a 100% network rebranding with the updated corporate identity, delivering a modern and unified customer experience. The onboarding of Ranveer Singh as the brand’s first-ever Brand Superstar added youthful energy and visibility, while campaigns such as ‘Fans, Not Owners’ celebrated the emotional connection customers share with the brand. Collaborations like the Octavia RS campaign with sitar maestro Rishab Sharma further helped Škoda connect performance with contemporary expression.

Trust and ownership experience remained central to the brand’s strategy. The combined sales and aftersales workforce grew to over 7,500 professionals, supported by more than 25,000 training days in 2025. Enhanced ownership benefits, extended standard warranties and value-focused feature upgrades helped reduce ownership costs while elevating service quality. Trust in Škoda’s engineering capabilities was reinforced through landmark initiatives such as the Fans of Škoda Leh expedition, which earned recognition from the India and Asia Book of Records for the largest convoy to reach Umling La, and the Kodiaq becoming the first petrol-powered SUV to reach the North Face base camp of Mount Everest.

As Škoda Auto India steps into 2026, the brand aims to build on the strong foundation laid during its silver jubilee year. With new product introductions, sharper sales and aftersales initiatives, deeper market penetration and a continued emphasis on listening to its customers, Škoda Auto India is set to carry forward its growth momentum while strengthening its position in the Indian automotive landscape.

Finance

HDFC Bank Releases First Standalone CSR Report, Spends ₹1,068 Crore in FY25

Tanisha Cardozo

Written by Tanisha Cardozo || Team Allycaral

HDFC Bank, India’s largest private sector bank, has released its first-ever standalone annual Corporate Social Responsibility Report, marking a significant milestone in its decade-long journey of social impact through its umbrella initiative, Parivartan. The report highlights the Bank’s sustained commitment to inclusive and sustainable development across the country.

In FY 2024–25, HDFC Bank spent ₹1,068.03 crore on CSR initiatives, reflecting an increase of nearly ₹123 crore over the previous year. As of March 31, 2025, the Bank’s cumulative CSR investment stands at ₹6,176 crore. Over the past ten years, Parivartan has touched 10.56 crore lives across 28 states and eight Union Territories, with projects implemented in 102 of the 112 Aspirational Districts identified by the Government of India. The Bank has also extended its rural development initiatives to 298 border villages.

The CSR Report outlines HDFC Bank’s work across six core focus areas that address critical social and environmental needs. Its flagship Holistic Rural Development Programme follows an integrated, cluster-based approach to improve infrastructure, education, natural resource management, health and sanitation, positively impacting over 14.92 lakh households. In education, the Bank has strengthened access and quality through scholarships, digital learning and infrastructure, disbursing over 29,000 scholarships, setting up more than 2,600 SMART schools and establishing 930 community libraries.

Through skill training and livelihood enhancement programmes, HDFC Bank has enabled 7.2 lakh individuals, including youth and women, to secure sustainable livelihoods. Its healthcare and hygiene initiatives have expanded access to preventive care, maternal and child health services and hygiene awareness, benefiting over three lakh individuals through mobile clinics, cancer care support and maternal health initiatives. Financial literacy and inclusion efforts have empowered individuals with banking awareness and digital safety, with the Bank’s Vigil Aunty campaign on fraud awareness reaching over 21 lakh followers online.

The newest focus area under Parivartan, natural resource management, promotes sustainability through water conservation, afforestation, solar energy solutions and biodiversity conservation. To date, the Bank has created 14,520 water conservation structures and installed more than 69,000 solar lights, supporting long-term environmental stewardship.

Aligned with 10 of the 17 United Nations Sustainable Development Goals, HDFC Bank’s CSR initiatives reflect an integrated approach to development that balances economic progress with social equity and environmental responsibility. Commenting on the milestone, Kaizad Bharucha, Deputy Managing Director, HDFC Bank, said that Parivartan represents the Bank’s sustained effort to work alongside communities in unlocking their potential, guided by a philosophy of inclusive, locally relevant and future-focused development.