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Time of India
28-05-2025
- Business
- Time of India
ZET partners with SBM Bank for FD-backed credit card
ZET , a credit score builder platform, and SBM Bank (India) launched an FD-backed credit card designed to help Indians build and maintain a credit score over 750. According to a report by one of India's major credit bureaus, over 160 million consumers were considered credit underserved, and about 50% of the population was credit unserved at the end of 2021. Credit underserved are individuals with minimal credit activity, typically limited to a single type of credit product and no more than two open accounts, active in the credit market for at least two years. In contrast, the credit unserved are those with no credit history , making them credit invisible to lenders. 'A good credit score is essential for accessing better financial products, yet millions of Indians are either new to credit or held back by a low score. With the SBM ZET Credit Card, we are addressing this gap by offering a simple, secure way to start building one's credit history. Our aim is to empower more people to take charge of their financial journey with confidence," said Manish Shara, co-founder and CEO, ZET. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like El patrimonio de Palito Ortega conmociona al mundo. 33 Bridges Undo The SBM ZET credit card, which does not require an existing credit history, helps bridge this gap by providing a safe and reliable way for Indians to build and improve their credit score. It can be linked to any UPI app, and users can earn up to 7% p.a. interest on their fixed deposit with SBM Bank, while utilising up to 90% of the deposit as their credit limit. "At SBM Bank India, we are committed to creating financial solutions that enhance accessibility and drive meaningful impact. The SBM ZET Credit Card embodies this mission by empowering individuals — especially those new to credit — to begin their financial journey with confidence and ease. We are delighted to partner with ZET to introduce a product that is simple, secure, and genuinely inclusive," Kumar Anshumali, EVP - Credit Card, Partnerships and Digital Initiatives, SBM Bank India said. Live Events Unlike unsecured credit cards that require a strong credit score and income proof, the credit card has no such prerequisites. Customers need to open a fixed deposit with SBM Bank, starting at just Rs5,000 and can top up their fixed deposit anytime up to Rs5,00,000 through the ZET app. The fixed deposit is insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC), a wholly owned subsidiary of the Reserve Bank of India , which provides deposit insurance of up to Rs5 lakh. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Founded by Manish Shara and Yash Desai, ZET is backed by marquee investors including Sequoia Capital , General Catalyst, WaterBridge Ventures, Nexus Ventures, and angel investors like Kunal Shah, Gaurav Munjal, and Harshil Mathur. Through its B2C credit-building platform and B2B2C agent-led marketplace, ZET offers secured credit products, AI-powered credit guidance, and embedded financial infrastructure for partners.
Time of India
16-05-2025
- Politics
- Time of India
Akashteer neutralised barrage of Pakistani missiles, drones
India's indigenously-developed Akashteer air defence control and reporting system played a pivotal role in neutralising waves of Pakistani aerial attacks including drones and missiles during the four-day military confrontation with Pakistan. While Pakistan relied on imported HQ-9 and HQ-16 systems that failed to intercept Indian strikes, Akashteer showcased India's dominance in automated air defence , the defence ministry said on Friday. Manufactured by state-run Bharat Electronics Limited (BEL), Akashteer was inducted into the Indian Army around a year ago. "In the dark skies, a new kind of warrior awakened. It did not roar like a fighter jet or flash like a missile. It listened. It calculated. It struck," the defence ministry said. Continue to video 5 5 Next Stay Playback speed 1x Normal Back 0.25x 0.5x 1x Normal 1.5x 2x 5 5 / Skip Ads by by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like El patrimonio de Palito Ortega conmociona al mundo Boite A Scoop Undo "This invisible shield, Akashteer, is no longer a concept confined to defence journals. It is the sharp edge of India's air defence, the unseen wall that stopped a barrage of missiles and drones on the night of May 9 and 10, when Pakistan launched its deadliest attack on Indian military and civilian areas," it said. Under Operation Sindoor , India carried out precision strikes on terror infrastructure early on May 7 in response to the April 22 Pahalgam terror attack. Live Events Following the Indian action, Pakistan attempted to attack Indian military bases on May 8, 9 and 10. The Pakistani attempts were strongly responded to by the Indian side by inflicting heavy damages to a number of key Pakistani military installations including air bases, air defence systems, command and control centres and radar sites. Foreign Secretary Vikram Misri on May 10 announced that India and Pakistan reached an understanding to stop all firings and military actions on land, air and sea, with immediate effect. In sharing the role played by Akashteer, the defence ministry said it is India's fully indigenous, automated air defence control and reporting system, that intercepted and neutralised every inbound projectile. "Akashteer has demonstrated that it sees, decides, and strikes faster than anything the world has fielded," the ministry said in a statement. Explaining the air defence system's features, the system reduces the possibility of friendly fire, allowing rapid engagement of hostile targets while ensuring the protection of aircraft in contested airspace. "Akashteer is not about brute force, it is about intelligent warfare. The system provides a common, real-time air picture to all involved parties (control room, radars and Defence Gun), enabling coordinated air defense operations," the ministry said. "It is a system designed to automate detection, tracking and engagement of enemy aircraft, drones and missiles," it added. The ministry said the air defence system integrates various radar systems, sensors and communication technologies into a single operational framework. Akashteer gathers data from multiple sources, processes it and allows for automated, real-time engagement decisions, it added. The air defence system is part of the broader C4ISR (Command, Control, Communications, Computers, Intelligence, Surveillance and Reconnaissance) framework, working in coordination with other systems. It is vehicle-based which makes it mobile and easier to handle in hostile environments. "Unlike traditional air defence models that rely on ground-based radars and manual decisions, Akashteer enables autonomous monitoring of low-level airspace in battle zones and efficient control of ground-based air defence weapon systems," the ministry said. "This marks a clear shift in India's strategic principle- from passive defence to proactive retaliation. Its seamless integration with India's larger C4ISR ecosystem allows the Army, Navy and Air Force to operate with unmatched synergy," it added.
