Swiggy part­ners In­difi to launch Cap­i­tal As­sist plan

Millennium Post - - BUSINESS -

NEW DELHI: Food or­der­ing and de­liv­ery plat­form Swiggy on Thurs­day said it has joined hands with fin­tech firm In­difi Tech­nolo­gies to launch 'Swiggy Cap­i­tal As­sist' pro­gramme for pro­vid­ing quick ac­cess to fi­nanc­ing op­tions to its res­tau­rant part­ners.

The pro­gramme will pro­vide the com­pany's res­tau­rant part­ners seam­less ac­cess to ad­di­tional work­ing cap­i­tal, help­ing them grow and ex­pand their busi­ness, Swiggy said.

For Swiggy's res­tau­rant part­ners, In­difi will com­plete the credit eval­u­a­tion in less than 24 hours of doc­u­ment sub­mis­sion, and the en­tire loan dis­bur­sal will be done in a week, it added.

"Through Swiggy Cap­i­tal As­sist, we want to lever­age our cred­i­bil­ity to pro­vide fair and has­sle-free fi­nanc­ing op­tions to our res­tau­rant part­ners, much like our seam­less de­liv­ery ser­vice," Swiggy CEO Sri­har­sha Ma­jety said. MUM­BAI: In a show of strength, the Sen­sex on Thurs­day leapt more than 348 points -- its big­gest one-day rise in three months -- to close at 32,182, tak­ing in its stride in­creased prospects of an im­mi­nent US in­ter­est rate hike.

In per­cent­age terms, the gains were above 1 per cent.

The min­utes from the US Fed­eral Re­serve's Septem­ber pol­icy meet­ing pointed to a rate in­crease one ad­di­tional time this year de­spite sub­dued in­fla­tion, sig­nalling "pa­tience in re­mov­ing pol­icy ac­com­mo­da­tion".

IIP and in­fla­tion data slated for the day height­ened in­vestors' in­ter­est as they went on a buy­ing binge at a time of a ris­ing trend over­seas.

The NSE barom­e­ter Nifty too traded above the key 10,000- mark be­fore clos­ing above that level.

Oil and gas, health­care, FMCG and auto coun­ters drove the rally. The 30-share Sen­sex af­ter open­ing higher set­tled up 348.23 points, or 1.09 per cent, at 32,182.22. This is its best sin­gle-day per­for­mance since July 10 when it soared 355.01 points.

On Wed­nes­day, the in­dex had dropped 90 points for the first time in four ses­sions as in­vestors took profit.

In­vestor op­ti­mism took the 50-share NSE Nifty above the key 10,000-mark to 10,096.40 at the close, up 111.60 points – or 1.12 per cent – its big­gest one­day gain since May 25 when it ral­lied 149.20 points.

In­tra-day, it scaled a high and a low of 10,104.45 and 9,977.10, re­spec­tively.

With this rally, in­vestors be­came richer by Rs 1.46 lakh crore as mar­ket cap­i­tal­i­sa­tion of BSE listed firms stood at Rs 137.56 (rpt) 137.56 lakh crore. MUM­BAI: Ex­hibit­ing strength against the be­lea­guered dol­lar for the fourth straight day, the ru­pee ap­pre­ci­ated by an­other 6 paise to end at a fresh one-week high of 65.08 on con­tin­ued sell­ing of the green­back.

The over­all forex mar­ket sen­ti­ment got a much needed leg-up af­ter the min­utes from the Fed­eral Re­serve's last mone­tary pol­icy meet­ing sounded dovish on rate rise out­look.

Con­sis­tent sell­ing of dol­lars by some for­eign banks and un­wind­ing of short-term for­ward con­tracts by ex­porters mainly boosted the ru­pee trade.

A mas­sive surge in lo­cal eq­ui­ties also helped the ru­pee rally to sus­tain.

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