Swiggy partners Indifi to launch Capital Assist plan
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.