Latest news with #RohitArora
Economic Times
3 days ago
- Business
- Economic Times
IN-SPACe blocks Chinese-owned AsiaSat services in India beyond March 2026; Zee, JioStar begin migration to other satellites
Synopsis India will not allow AsiaSat's AS-5 and AS-7 satellites after March 31, 2026. This decision comes from the Indian National Space Promotion and Authorisation Centre. Concerns exist over AsiaSat's Chinese ownership. JioStar and Zee Entertainment are moving to other satellites. The move aligns with India's focus on national security. New rules require government approval for foreign satellites. Agencies Representational image The Indian National Space Promotion and Authorisation Centre (IN-SPACe) has withdrawn authorisation for the use of satellite capacity from Asia Satellite Telecommunications Company's (AsiaSat) AS-5 and AS-7 satellites in India beyond March 31, 2026, the ministry of information and broadcasting (MIB) said in an advisory on Monday. While the government has not specified the reason for withdrawal of IN-SPACe authorisation, sources privy to the development said the move stems from concerns over the company's significant Chinese ownership. AsiaSat's key shareholders include Chinese government-owned CITIC Group Corporation, formerly known as China International Trust and Investment Corporation, and Carlyle Asia Partners IV, LP. Currently, broadcasters such as JioStar and Zee Entertainment rely on these AsiaSat satellites to beam their channels. "JioStar and Zee Entertainment are in the process of migrating to government-authorised satellites including GSAT and Intelsat," said an executive familiar with the development. AsiaSat operates six in-orbit satellites: AsiaSat 4, 5, 6, 7, 8 and 9, along with associated teleport infrastructure. The withdrawal of access to AS-5 and AS-7 signals a decisive shift in India's approach to satellite communications, aligning it more closely with national security and strategic autonomy in a communication dated July 21, 2025, confirmed that Inorbit Space Telecommunications had been authorised to provision AS-5 and AS-7 capacity until March 2026. After that, the satellites can no longer be used for communication services in Space Telecommunications was incorporated on June 20, 2024 and has Rajdeepsinh Gohil and Rohit Arora as directors. Gohil, who is the MD of Inorbit Space Telecommunications, has been associated with AsiaSat for over a decade in multiple roles, according to his LinkedIn profile.'Further clarification with regard to authorisation of these satellites, if any, may be sought from IN-SPACe, being the nodal agency for matters related to authorisation of satellites,' the MIB said in its directive aligns with the broader regulatory overhaul introduced last year, which requires all satellite TV channels and teleport operators to obtain government-backed authorisation via IN-SPACe before using foreign satellite July 10, 2024, the MIB permitted a temporary extension for existing foreign satellite capacity arrangements in C, Ku, or Ka bands until March 31, 2025. This was later extended to September 30, fresh applications for satellite capacity authorisation must now be submitted by Indian entities such as subsidiaries, joint ventures, or authorised representatives of the foreign satellite operator through the IN-SPACe portal.'Fresh authorisation from IN-SPACe shall be required for non-Indian satellites already provisioning their capacity in India,' the advisory said. It added that no additional capacity or new foreign satellites will be permitted without such authorisation after September 30, October 1, 2025, only non-Indian satellites explicitly authorised by IN-SPACe will be allowed to offer their capacity in India across any frequency to the Indian Space Research Organisation (Isro), India currently operates a fleet of 19 communication satellites across C, extended C, Ku, Ka/Ku and S bands. Of these, 12 are managed by NewSpace India Limited (NSIL), the commercial arm of the Department of Space.
Business Standard
02-07-2025
- Business
- Business Standard
Biz2X to Power KreditVenture's Digital Lending with its Next-Gen End-to-End AI-Enabled Platform
NewsVoir New Delhi [India], July 2: Biz2X, a global SaaS lending platform and subsidiary of Biz2Credit, has announced the onboarding of KreditVenture, a fast-growing new age NBFC in India to offer its AI-powered digital lending platform. With this development, Biz2X will equip the NBFC with an end-to-end digital lending product suite embedded with state-of-the-art and first of its kind AI capabilities for faster, consistent and intelligent credit distribution. With its aggressive growth plans, KreditVenture will deploy Biz2X's AI enabled solutions to scale up their LAP, Used Commercial Vehicle Finance, and Used Car Loans Finance. KreditVenture will benefit from Biz2X's groundbreaking AI-led solutions, including the Agentic AI Bot for automating credit underwriting and loan sanctions, thereby improving their turnaround time by over 50%. Biz2X's proprietary alternate scoring model - the Biz Analyzer, will offer KreditVenture a superior and more accurate assessment of applications where traditional underwriting is challenging due to lack of information. Biz2X's groundbreaking solution, the Digital Site Visit application will lead to significant reduction in operational and customer acquisition costs arising out of field, collateral, and site visits. More importantly, it will eliminate frauds related to site visit, the bottlenecks created due to delays in site visit and improve the turnaround time of processing loan applications. Mr. Saif Hasan, Founder and CEO of KreditVenture, said, "There is a Strategic Shift towards Secured Lending in India and digitisation will be the key differentiator. With ground breaking new age AI suite of Biz2X, we will leverage the technological edge in our high touch and high-tech model as we serve India's credit needs. Their AI-powered digital lending platform will enhance our underwriting capabilities, enable faster, data-led credit decisions, optimize costs, and scale with confidence as we remain committed to empowering Bharat with access to credit." Mr. Rohit Arora, Co-Founder and CEO of Biz2Credit and Biz2X, said, "KreditVenture's vision to adopt next-gen AI-enabled lending technology aligns seamlessly with our mission to revolutionize lending in India. As the digital lending landscape undergoes a paradigm shift with AI at its core, our advanced platform will empower KreditVenture to move beyond static financial data and adopt intelligent, scalable, and inclusive lending infrastructure that is built on end-to-end automation and real-time decisioning." The partnership is another step forward in strengthening Biz2X's growing footprint as a strategic technology partner in India, for digitizing and scaling lending operations for financial institutions and highlights the increasing demand for integrated, AI-powered digital lending solutions.
Yahoo
12-06-2025
- Business
- Yahoo
Biz2Credit Small Business Earnings Climb for Fifth Consecutive Month
Analysis shows small businesses grew earnings in May despite uptick in expenses and looming tariff uncertainty. NEW YORK, June 12, 2025 (GLOBE NEWSWIRE) -- Biz2Credit's monthly Small Business Earnings Report found that average monthly earnings were up to $49,300 in May 2025, up slightly from April's number. This continues a positive run for earnings, rising 53% since January. Key Findings for May 2025: Average Monthly Earnings: $49,300. (Apr. 2025: $47,700 – an increase of $1,600) Average Monthly Revenue: $592,600. (Apr. 2025: $554,900 – an increase of $37,700) Average Monthly Expenses: $544,200. (Apr. 2025: $501,900 – an increase of $42,300) Takeaways: As summer months approach and inflation remains tempered, small businesses are seeing growth in top line revenue, expenses, and earnings. The positive marks for enterprise operators echo the sentiment in the U.S. Small Business Confidence Index, which rose for the first time since December. 'Small and medium businesses continue to remain resilient as tariff negotiations remain in limbo,' said Rohit Arora, CEO and co-founder of Biz2Credit. It was expected that tariffs would send prices upward as businesses were estimated to raise prices, and bring rising inflation. Those results have yet to materialize. A plausible explanation is that businesses frontloaded their inventory to skirt tariffs. 'Additionally, tax policy has become a rising question mark for many business owners, as Congress and the White House remain at odds over the Big, Beautiful Bill,' added Arora, one of the nation's leading experts in small business finance. A report from the NFIB says that taxes are a top concern as the provisions of the Tax Cuts and Jobs Act in 2017 remain unconfirmed at this time. Summary The Biz2Credit Small Business Earnings Report summarizes primary data of companies that applied for funding each month. It assesses the financial health of small businesses by analyzing primary data provided directly by small to midsized firms in the U.S. as part of the application process on Biz2Credit's award-winning digital funding platform. The report provides one of the most up-to-date readings on the financial health of small businesses currently available. Click here to review the Small Business Earnings Report. Methodology Biz2Credit examines a number of small business financial metrics in the Small Business Earnings Report, including annual revenue, operating expenses, age of business, credit score, approval rate, and funding rate. Data is drawn from over 100,000 completed financing applications submitted to Biz2Credit's online small business funding platform between Jan. 2022 and May 2025. About Biz2Credit Founded in 2007, Biz2Credit has helped thousands of companies access more than in small business financing. Biz2Credit is headquartered in New York City, employs over 800 people with over half in product, data science, and engineering roles. Using data analytics and predictive modeling, Biz2Credit seeks to enhance the accuracy and transparency of business credit decisions, fueling long-term economic development. Visit or follow the company on LinkedIn, Instagram, Facebook, and X (formerly Twitter). Media Contact: Brett Holzhauer, (818) 326-1109, in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Business Standard
10-06-2025
- Business
- Business Standard
Biz2x aims to secure ₹17,000 crore loan disbursal to MSMEs in FY26
Biz2X, a digital lending SaaS platform, is eyeing to disburse Rs 17,000 crore loans to MSMEs in 2025-26 against Rs 14,000 crore in the fiscal ended March 2025. The company said it facilitated over Rs 14,000 crore in loan disbursements through its India operations in 2024-25, continuing with the year-on-year growth of 25-30 per cent. The turnkey global SaaS platform enables financial institutions to provide a customised online lending experience for small and midsize business customers. This growth reflects the company's strong focus on AI-driven product enhancements and deeper solution integration, which is driving new customer acquisition and has strengthened lending infrastructure, said Rohit Arora, co-founder and CEO of Biz2X and Biz2Credit. "We see that if we can maintain the current pace of growth, then we can increase it by another 1520 per cent this fiscal year. Obviously, there are some areas of concern, especially with the global situation regarding US tariffs, because Indian SMEs contribute a large part to Indian exports. A lot of those exporters actually lose credit significantly," he said. "But if that situation settles down quickly, the company will achieve close to 20 per cent growth," Arora said. He expects to achieve Rs 17,000 crore mark this fiscal. Harnessing the increase in digitisation across the world, the advent of artificial intelligence and increasing global expansion, the platform plans to further scale reach and impact across the financial ecosystem amid increasing demand for inclusive access to credit. It is focused on enhancing service delivery in high-growth regions in line with India's rising prominence in the Global Capability Center (GCC) landscape projected to reach USD 110 billion by 2030. On MSMEs, Arora said while the government has taken good policy measures, one key step could be learning from other countries and creating deeper demand for MSME loan portfolios in the capital markets. Once that happens, it becomes a self-sustaining cycle, he added. "Right now, banks lend to MSMEs and hold the loans on their books. There's some securitisation, but nowhere near the level seen in the US or other nations. That's the first thing," he said. The second aspect is the credit guarantee programme run by SIDBI, which has done well, but could be improved further, he added. On the company's expansion plans, Arora said the company has operations in India, the US and the UAE, and is also expanding to Saudi Arabia. The company is focused on diversifying its product portfolio in India and pushing AI-driven solutions. Biz2X, Arora said, is supporting small businesses to address vast credit gaps by leveraging AI-based underwriting using digital footprints.
Entrepreneur
09-06-2025
- Business
- Entrepreneur
Biz2X Crosses INR 14,000 Crore in Loans, Strengthens India's Fintech Footprint
The company is actively playing a dual role in exporting fintech innovation and reinforcing India's position as a hub for digital financial services on the back of ongoing expansions into key international markets including the Middle East. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Biz2X, the digital lending software platform from Biz2Credit, has surpassed INR 14,000 crore in loan disbursements through its India operations in FY25, continuing its steady growth of 25-30 per cent year-on-year. The figure signals not just the rising demand for credit access but also the expanding influence of AI-powered fintech infrastructure in India's lending landscape. The company attributes its performance to a mix of artificial intelligence innovations, strategic partnerships, and integrated lending solutions tailored for India's evolving credit ecosystem. With demand for credit in India projected at INR 37 lakh crore, Biz2X's technology is being seen as an enabler for faster and more inclusive loan access, especially for underserved segments. "This milestone is a testament to the trust that Biz2X has earned over the years through strategic collaborations with India's leading financial institutions," said Rohit Arora, co-founder and CEO of Biz2X and Biz2Credit. "We will continue to power the Indian lending ecosystem on the back of our solutions that draw on global best practices combining expertise from powering one of the largest digital lending marketplaces in the U.S., Biz2Credit, with localized models tailored to India's unique credit needs." Biz2X's recent rollouts — the AI-powered Biz2X Underwriting Agent and Biz2X AI CRM — are aimed at transforming how lenders evaluate borrower profiles, manage leads, and drive engagement. Another flagship product, DigiKred, continues to play a central role in enhancing the efficiency of Indian lenders by automating key elements of the loan lifecycle. The company's progress also reflects the larger shifts underway in India's Global Capability Center (GCC) sector, projected to hit $110 billion by 2030. Biz2X is aligning its operations to support this momentum, focusing on high-growth regions and expanding its service footprint to meet rising institutional demand for scalable, AI-driven credit solutions. Arora noted that the company remains committed to enabling access to credit for Indian MSMEs, who have traditionally faced barriers in securing timely loans. "We are committed to enabling financial inclusion for Indian MSMEs which have long faced roadblocks in securing timely credit," he said. The company is actively playing a dual role in exporting fintech innovation and reinforcing India's position as a hub for digital financial services on the back of ongoing expansions into key international markets including the Middle East.
