Photo: Zee Business
TraceX Mints $1 Mn In Pre-Series A Funding
In the pre-series A funding, TraceX, an agritech startup company, raised $1 million, which is approximately Rs 7.5 crore. The pre-series A funding was led by Nabard-backed NABVENTURES fund. "The newly raised capital will be used towards scaling up operations across geographies in India," said TraceX in a statement. TraceX is led by a blockchain-powered traceability platform that enhances supply chain and maximises long-term value for… read-more
Tags: TraceX, Agritech, Startup, Series A Funding, NABARD
Courtesy: Live Mint
Photo: Banking Frontiers
Regional Rural Banks Face 3 Times Higher Loss Than Previous Fiscal Year
National Bank for Agriculture and Rural Development informed that Regional Rural Banks faced a net loss of Rs 2,206 crore in fiscal year ended March, 2020. Reportedly, the loss is 3.38 times higher than FY19, which was Rs 652 crore. It also revealed RRBs witnessed a growth of 8.6% in their business as compared to 9.5% in FY19 and their outstanding loans stood at Rs 2.98 lakh crore for FY20.
Tags: NABARD, RRB, Loans, Debts
Courtesy: Deccan Herald
