RBI Brings Home 102 Tonnes of Gold in Landmark Repatriation

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August 14, 2025

In a landmark financial move that underscores the Reserve Bank of India’s (RBI) commitment to strengthening the nation’s economic security, the apex bank has repatriated 102 metric tonnes of gold from the Bank of England to its domestic vaults. The transfer took place between April and September 2024, making it one of the RBI’s largest gold relocations since the 1991 economic crisis.

This monumental transaction, coinciding with the auspicious festival of Dhanteras, reflects India’s growing financial confidence and strategic approach to asset management. The RBI’s decision to bring a substantial portion of its gold reserves back to domestic soil is a symbolic and practical move aimed at reinforcing sovereign control over national assets.

Established in 1935, the Reserve Bank of India is the nation’s central bank, responsible for regulating currency, managing foreign exchange reserves, ensuring monetary stability, and fostering economic growth. Over the decades, the RBI has played a pivotal role in shaping India’s financial resilience and global economic standing.

A Historic Parallel to 1991

The last time India witnessed such a significant gold-related development was during the 1991 balance-of-payments crisis, when the RBI airlifted 47 tonnes of gold to secure emergency foreign exchange loans. That event was a symbol of economic distress. In contrast, the 2024 repatriation reflects a position of strength, as the RBI has acted proactively to safeguard its assets amid global uncertainties.

Strategic Considerations Behind the Move

While central banks around the world maintain portions of their gold reserves overseas for trading flexibility and security, recent geopolitical tensions, evolving financial regulations, and logistical advancements have led several nations to bring gold back to domestic vaults.

For the RBI, the decision was guided by:

Enhanced Sovereign Control: Housing gold domestically ensures direct access in times of global disruptions.
Diversification of Storage Locations: Spreading reserves across multiple secure locations reduces risk concentration.
National Sentiment: Gold holds deep cultural and economic significance in India, especially during festivals like Dhanteras.
Economic Signaling: The move sends a strong message of financial independence and robust reserves management.

The Logistics and Security of the Transfer

Transporting 102 tonnes of gold—worth billions of dollars—was a highly complex operation requiring meticulous planning and collaboration across multiple government agencies, security forces, and logistics experts.

Industry insiders indicate that such transfers are typically conducted in multiple batches, under the highest levels of secrecy, with tight security protocols to mitigate risks. The RBI’s vaults, equipped with advanced security and climate-controlled environments, are now the custodians of this newly repatriated gold.

RBI’s Expanding Gold Reserves

Gold has been an integral part of the RBI’s foreign exchange reserves strategy. As of 2024, the central bank’s gold holdings have steadily grown, reflecting a broader global trend among central banks to diversify away from certain foreign currencies.

According to data from the World Gold Council, central banks globally have been net buyers of gold over the past decade, with 2022 and 2023 witnessing record purchases. India’s latest move positions it alongside other economies—such as Germany, the Netherlands, and Hungary—that have repatriated large portions of their gold reserves in recent years.

Auspicious Timing: Dhanteras and Public Confidence

The RBI’s confirmation of this repatriation around Dhanteras—when gold buying is traditionally considered auspicious—resonates deeply with Indian citizens. The move not only boosts public morale but also reinforces trust in the nation’s economic stewardship.

Symbolically, this repatriation signifies a reversal of historical economic challenges, demonstrating India’s transformation from a gold-mortgaging economy in 1991 to a gold-securing powerhouse in 2024.

Expert Opinions

Economists and financial analysts have widely lauded the RBI’s decision.

Dr. Meera Sinha, Senior Economist, commented:
“Bringing gold reserves home is not just a logistical choice but a strategic one. In today’s volatile global financial landscape, direct access to reserves is an insurance policy against external shocks.”

Rajiv Bhandari, former RBI official, noted:
“This move will be seen as a confidence booster, both domestically and internationally. It sends a message that India is not only safeguarding its assets but is also prepared to respond quickly in any contingency.”

Global Context

Central banks’ appetite for gold has surged amid rising inflation, currency volatility, and geopolitical tensions. Gold’s universal acceptance, lack of counterparty risk, and long-term value stability make it a favored reserve asset.

India’s gold repatriation aligns with a broader trend of nations securing physical control over their assets, minimizing exposure to foreign custodial risks, and reinforcing economic sovereignty.

The RBI has not disclosed whether further repatriations are planned, but analysts suggest this could mark the beginning of a phased strategy to relocate more gold reserves to India.

In a world where economic uncertainties are the norm rather than the exception, gold remains a cornerstone of stability. This historic repatriation stands as a testament to India’s financial evolution—from crisis-driven necessity to proactive strategic planning.

Google Play Best of 2024: Indian Apps Dominate with 5 of 7 Top Awards

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Team Happen Recently

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August 14, 2025

Google Play today unveiled the winners of its highly anticipated Best of 2024 Awards for India, celebrating the year’s most innovative, impactful, and entertaining apps and games. In a landmark achievement, Indian developers dominated the list, with five out of the seven top app awards going to homegrown creations—solidifying India’s position as a rising powerhouse in the global app economy.

The annual Best of Awards recognize the most exceptional applications and games across various categories, based on innovation, design, user engagement, and overall contribution to the app ecosystem. This year’s selection reflects not only the technological brilliance of Indian creators but also the country’s ability to shape digital culture and global trends.

Indian Developers Take Center Stage

In recent years, India’s tech industry has experienced unprecedented growth, and the Best of 2024 Awards stand as proof of this momentum. From fintech to fitness, education to entertainment, Indian developers have showcased remarkable versatility in creating products that resonate both locally and internationally.

“India’s developer community is demonstrating world-class creativity, problem-solving, and technical excellence,” said [Google Play India spokesperson name, designation]. “The fact that a majority of our top app awards this year went to Indian creators reflects their ability to compete on a global scale while addressing the unique needs of diverse audiences.”

Celebrating the Best of 2024: Award Highlights

The Best of 2024 winners span multiple categories, from everyday productivity tools to immersive gaming experiences. While global hits continue to make their mark, it’s the locally developed apps that have captured users’ attention and loyalty.

Key Award Highlights:

Best App of 2024 – Awarded to an innovative app that transformed how people live, work, and connect this year.
Users’ Choice App – Determined by votes from millions of Google Play users in India, reflecting popular demand.
Best Everyday Essentials – Apps that simplify daily routines and improve productivity.
Best for Personal Growth – Platforms helping users learn, improve skills, and grow personally.
Best Indie App – Recognizing creativity and innovation from independent developers.
Best Game of 2024 – Honoring the most engaging and visually stunning game released this year.
Users’ Choice Game – Voted by players across the country, celebrating gaming experiences that kept communities connected.

Why This Year’s Wins Matter for India

India is home to one of the largest and fastest-growing bases of mobile internet users in the world. The country’s developer ecosystem, supported by affordable smartphones, low-cost data, and a thriving startup culture, has matured rapidly.

This year’s results point to three clear trends:

Localization with Global Standards – Indian apps are blending deep cultural understanding with world-class technology.
Innovations Across Sectors – From AI-powered productivity tools to gamified learning platforms, Indian developers are pushing boundaries.
Community-Driven Growth – User engagement and feedback are driving continuous improvement and higher retention rates.

Industry experts believe that such recognition not only boosts the confidence of Indian creators but also attracts more investment, partnerships, and talent into the sector.

Quotes from Indian Winners

One of the winning app founders, [Name], CEO of [Company], shared, “This recognition from Google Play is a testament to the hard work of our team and the support of millions of users in India and abroad. We believe Indian apps have the potential to lead the global market in the coming years, and awards like this inspire us to keep innovating.”

Another award recipient from the gaming industry remarked, “Gaming in India has entered a golden era. We’re thrilled to see our title recognized alongside the world’s best, and it motivates us to create even more engaging and culturally relevant experiences.”

Google Play’s Commitment to India’s Digital Future

Google Play has long supported Indian developers through programs like Google Play Academy, Play Points, and Start on Android, providing tools, resources, and global exposure to help them succeed.

According to Google Play, India remains a priority market for nurturing digital innovation. The platform plans to continue offering support for startups, indie developers, and established companies aiming to scale their impact.

“India’s app economy is not just growing—it’s thriving,” said [Spokesperson Name]. “The world is watching as Indian developers set new benchmarks for creativity, usability, and scale. This year’s Best of Awards is only the beginning of what’s to come.”

Google Play’s Best of Awards

The Best of Awards is an annual celebration of the top-performing apps, games, and digital content on Google Play. Winners are chosen through a combination of editorial curation by Google Play’s team and votes from millions of users worldwide. Categories recognize excellence in innovation, design, user experience, and societal impact.

Bharata Bhava Foundation to Open in Abu Dhabi, Unveiling a Vision for Indian Art

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Team Happen Recently

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August 14, 2025

A landmark cultural initiative is unfolding in Abu Dhabi, where the Bharata Bhava Foundation is set to bring India’s artistic soul to an international stage. Co-founded by Emirati patron of the arts Buti Al Suwaidi and Indian collector Anand Sharad Madia, the Foundation seeks to become a global platform for preserving and presenting India’s deep visual traditions, across modern, classical, and tribal forms.

While the physical gallery is scheduled to open in 2026, the Foundation’s website has already gone live, offering visitors worldwide a curated look into its purpose, artists, and philosophy. Through digital exhibitions, narratives, and visual storytelling, the site lays the groundwork for what will soon become a permanent cultural space in the UAE capital.

At the core of the Foundation lies the AM Brant Collection, which will initially feature masterworks from 30 of India’s most renowned artists: a constellation of visionaries whose contributions have defined Indian modernism, revivalism, and regional expression. This carefully curated group includes legendary names such as M.F. Husain, F.N. Souza, S.H. Raza, Tyeb Mehta, and V.S. Gaitonde, alongside pioneers like Jamini Roy, Nandalal Bose, Rabindranath Tagore, Ganesh Pyne, Jehangir Sabavala, K.H. Ara, Jeram Patel, Satish Gujaral and others who shaped the Indian aesthetic from pre-independence to post-modernity.

What distinguishes the AM Brant Collection is not just its artistic significance, but its exceptional provenance. Many of these works have been acquired through personal relationships with artist families, close confidants, and respected collectors, ensuring not only authenticity but emotional continuity. These are not anonymous acquisitions; they are living legacies, preserved with reverence and responsibility. Each piece carries a story, often untold, that adds to its historical and cultural weight.

“Abu Dhabi is where traditions are given new life,” says Buti Al Suwaidi. “It’s the ideal setting for India’s visual heritage to be celebrated with dignity and resonance.”

The initiative aligns with the Abu Dhabi Tourism Strategy 2030, which positions culture and creativity at the heart of the emirate’s development. The Bharata Bhava Foundation steps into this landscape not merely as an art institution, but as a civilizational bridge, where Indian art engages the world with quiet confidence and timeless depth.

“These are not just paintings,” says Anand Sharad Madia. “They are inheritances—echoes of memory and movement. We’re not archiving the past, we’re letting it breathe again.”

Planned programs include rotating exhibitions, artist residencies, fellowships, a digital museum, and a proposed Bharata Bhava Biennale. The Foundation’s first major gift “ The Sacred Twelve” has been donated by the Buti Al Suwaidi family of Sharjah and the Madia family of Ahmedabad, forming the seed of its permanent collection.

As India approaches Independence Day week, the Bharata Bhava Foundation offers a deeper kind of tribute: one that honours not just independence, but cultural self-expression. In choosing to bring India’s artistic legacy to a global stage, it reaffirms that freedom is not only won through struggle, but sustained through storytelling. Not with noise, but with care. Not in haste, but with dignity.

“The wait is almost over. Soon, www.bharatabhava.com will open its doors to a world where India’s art, heritage, and stories breathe again.”

BharatPe Turns Profitable for the First Time in FY25 with ₹6 Crore Adjusted PBT

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Team Happen Recently

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August 14, 2025

BharatPe, one of India’s leading fintech companies, today announced a historic milestone in its growth journey by reporting its first-ever adjusted Profit Before Tax (PBT) in the financial year 2024–25 (FY25). The company posted an adjusted PBT of ₹6 crore (excluding ESOP expenses), marking a dramatic turnaround from a loss of ₹342 crore in FY24.

This achievement reflects BharatPe’s strategic focus on sustainable growth, operational efficiency, and innovation in delivering financial solutions to merchants and consumers across India. The fintech firm also reported robust total revenue of ₹1,734 crore for FY25, reinforcing its position as a key player in India’s rapidly expanding digital payments and lending ecosystem.

A Year of Transformation

FY25 has been a pivotal year for BharatPe. The company underwent a focused transformation strategy aimed at strengthening its core business, improving cost efficiency, and optimizing its revenue streams.

Nalin Negi, CEO of BharatPe, said:

“This is a landmark moment for BharatPe. Turning profitable at an adjusted PBT level is not just a financial achievement—it is a testament to the hard work, resilience, and customer-first mindset of our entire team. FY25 was all about disciplined execution, and our numbers speak for themselves. We remain committed to building a sustainable business that drives value for our merchants, partners, and stakeholders.”

Strong Financial Recovery

The jump from a ₹342 crore loss in FY24 to a ₹6 crore adjusted profit in FY25 highlights the company’s ability to pivot effectively and adapt to market challenges. This remarkable recovery was driven by:

Revenue Growth: The company’s revenue reached ₹1,734 crore, supported by higher transaction volumes, lending business expansion, and deeper merchant engagement.
Operational Efficiency: Strategic cost optimization measures, process automation, and better vendor management contributed significantly to improved margins.
Product Diversification: BharatPe’s expanding suite of products in payments, credit, and merchant services attracted a larger and more diverse user base.

ocus on Merchant Empowerment

BharatPe has consistently been at the forefront of empowering small and medium-sized businesses (SMBs) with digital payment solutions and access to credit. The company continued to strengthen its merchant network in FY25, with millions of active merchants now using BharatPe’s QR code payment system, point-of-sale (POS) terminals, and business loans.

Ashneer Grover, Co-Founder of BharatPe, remarked:

“When we started BharatPe, our vision was clear—to empower India’s merchants with the tools they need to succeed in the digital economy. Today’s profitability milestone proves that we can achieve this mission while also building a financially strong enterprise. This is just the beginning.”

Innovation and Digital Lending Growth

A key driver of BharatPe’s growth in FY25 was its digital lending business. The company expanded its credit offerings, including merchant loans, BNPL (Buy Now, Pay Later) products, and working capital financing. By leveraging advanced data analytics and AI-driven risk assessment, BharatPe improved loan disbursal speed while maintaining healthy asset quality.

The fintech also introduced several product innovations in FY25:

Enhanced QR Payment Solutions: Upgraded features for faster settlements and integration with UPI Lite.
BharatPe POS Plus: A new generation POS terminal with advanced analytics for merchants.
BharatPe Business Insights: A dashboard enabling merchants to track sales, cash flow, and loan repayment in real time.

Path Ahead: Sustainable Growth and Expansion

Looking ahead to FY26, BharatPe aims to sustain profitability while investing in product innovation, technology, and customer acquisition. The company plans to:

Expand Lending Portfolio: Introduce more tailored credit products for different merchant segments.
Enhance Technology Infrastructure: Leverage AI, machine learning, and blockchain to improve payment security and customer experience.
Grow Merchant Network: Penetrate deeper into Tier-2, Tier-3, and rural markets to bring more businesses into the formal financial ecosystem.
Explore Strategic Partnerships: Collaborate with financial institutions, NBFCs, and technology partners to strengthen offerings.

CEO Nalin Negi :

“Our journey is far from over. FY26 will be about scaling responsibly, innovating boldly, and keeping our focus on the merchants who are the backbone of India’s economy.”

BharatPe is one of India’s fastest-growing fintech companies established in 2018, committed to empowering millions of merchants and small businesses with simple, secure, and cost-effective digital financial solutions. The company offers a comprehensive suite of products, including interoperable QR payments, POS solutions, merchant loans, and other value-added services. BharatPe’s mission is to drive financial inclusion by enabling every merchant in India to accept digital payments and access credit with ease.

Skyroot Marks Major Milestone with Successful Trial of KALAM 1200 Rocket Motor

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Team Happen Recently

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August 14, 2025

Hyderabad-based spacetech pioneer Skyroot Aerospace has marked a significant leap in India’s private spaceflight journey by successfully conducting the first static test of its KALAM 1200 solid rocket motor, the first stage of the upcoming Vikram-1 launch vehicle. This critical milestone brings the company closer to its mission of enabling affordable, reliable, and rapid access to space for small satellite operators worldwide.

The landmark test took place at 9:05 a.m. IST on August 8, 2025, at the Static Test Complex of the Satish Dhawan Space Centre (SDSC) in Sriharikota, under the guidance and support of the Indian Space Research Organisation (ISRO) and the Department of Space. The event marks one of the most advanced private-sector rocket motor tests ever undertaken in India.

Engineering Feat: KALAM 1200 – The Heart of Vikram-1’s First Stage

The KALAM 1200 motor is a monolithic composite rocket motor that stands 11 meters in length and 1.7 meters in diameter, with an impressive propellant mass of 30 tonnes. Designed for maximum thrust efficiency, it is the longest solid rocket motor prepared at the Solid Propellant Plant in Sriharikota.

The motor’s casing is built using state-of-the-art carbon composite materials, ensuring high strength while reducing weight. This makes the stage not only structurally robust but also more efficient, allowing Vikram-1 to carry heavier payloads without compromising cost-effectiveness.

One of the highlights of the program is that the ISRO team provided the design for the test stand, ensuring the trial met stringent spaceflight and safety standards. The collaboration between Skyroot and ISRO demonstrates the growing synergy between India’s government-led and private space sectors.

The Test: Proving Performance and Reliability

The static test was conducted to validate:

Thrust performance over the burn duration.
Structural integrity under maximum operational pressure.
Propellant grain performance in various thermal conditions.
Nozzle efficiency and flow uniformity.

According to preliminary data, the KALAM 1200 motor performed exactly as predicted by simulations, delivering consistent thrust and stable combustion, with no anomalies detected. Engineers monitored hundreds of real-time data channels to confirm performance across temperature, pressure, and vibration metrics.

“This is more than just a test—it’s a demonstration of India’s growing capability to design, build, and qualify advanced rocket motors in the private sector,” said [CEO Name], Co-Founder & CEO of Skyroot Aerospace. “With KALAM 1200’s success, we are one giant step closer to launching Vikram-1 into orbit.”

Vikram-1: A Game-Changer for Small Satellite Launches

Named after Dr. Vikram Sarabhai, the father of India’s space program, Vikram-1 is a three-stage, solid-propellant launch vehicle designed to carry small satellites into Low Earth Orbit (LEO) with unprecedented cost efficiency.

Key features of Vikram-1:

Payload Capacity: Up to 290 kg to a 500 km Sun-Synchronous Polar Orbit (SSPO).
Rapid Turnaround: Ability to be manufactured and launched in under 72 hours from contract confirmation.
Modular Design: Stages can be configured for different mission requirements.
Green Propellants in Upper Stages: Eco-friendly propulsion for orbital maneuvers.

The first stage, powered by KALAM 1200, is designed for high thrust-to-weight ratio, ensuring the vehicle clears the atmosphere with efficiency and speed.

India’s Space Economy and Private Sector Role

India’s space economy is projected to reach USD 44 billion by 2033, with private players expected to account for a significant share. The 2020 space policy reforms opened the door for private companies like Skyroot to build and operate launch vehicles, enabling the country to compete in the rapidly growing small-satellite launch market.

“Today’s successful test shows that private sector innovation, combined with government support, can make India a global leader in affordable space access,” said [CTO Name], Co-Founder & CTO of Skyroot Aerospace. “The KALAM 1200 is not just an engine—it’s a foundation for many future space missions.”

The successful KALAM 1200 test, Skyroot Aerospace will proceed with:

Integration of the first stage with subsequent stages of Vikram-1.
Qualification tests for avionics, guidance, and payload fairing systems.
Full vehicle integration tests ahead of the maiden Vikram-1 orbital launch scheduled for [Tentative Month & Year].

The company is also developing advanced variants of its KALAM series motors for larger payload capacities and reusable launch systems.

Establishe in 2018 by former ISRO scientists, Skyroot Aerospace is India’s leading private space launch vehicle company, committed to democratizing space access. Headquartered in Hyderabad, Skyroot develops a family of cost-effective, modular, and reliable small satellite launch vehicles. Its Vikram series is designed for quick turnaround launches, enabling satellite operators worldwide to deploy payloads rapidly and affordably.

Skyroot’s achievements include:

First private Indian company to test a cryogenic engine.
First private Indian company to launch a rocket into space.
Multiple collaborations with ISRO and international partners.

Satvik Style Offers the Solution to “What to Wear?” in Personalized Styling and Ethical Fashion

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Team Happen Recently

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August 14, 2025

Mumbai, India– For women who are faced with that age-old question, “What do I wear?”, Satvik Style has the solution. The latest fashion brand is solving this everyday conundrum by making customized styling its top priority of services. Satvik Style is a movement that offers women event-based solutions to look and feel their best without compromising their health, soul, or the planet.

Its founders, Neha and Leena, aimed to develop clothing that positively notices and appreciates every woman. Satvik Style therefore provides free personal styling consultations to its consumers and even a free session for everyone, which brings a personal stylist to your doorstep. This is not mere suggestions, with body-type analysis and specially created outfit recommendations that enable women to own their own shape with style and confidence.

Satvik Style’s guiding philosophy is reflected in its slogan, “Dressing the Vibe, Not Just the Body”. Satvik Style designs sustainable Indian and fusion clothing that senses the mood, values, and spirit of a woman. The clothes are designed to match the way you are feeling—whether you feel confident, laid-back, fierce, playful, or grounded. This emphasis on mood over occasion is key to the brand’s appeal. Aside from design, Satvik Style also appreciates the quality and conscious nature of its fabrics. The company cites how natural fabrics like linen, considered one of the most sustainable and breathable plant-based fibers in the world, hum at a high 5,000 Hz frequency, which can harmonize and amplify your body’s natural frequency and trigger healing, balance, as well as energy. This contrasts starkly with synthetic fabrics like polyester, which hum at a much lower 20-40 Hz frequency, ominously close to the frequency of a dead body. By choosing Satvik Style, women are investing in clothes that are gentle on their skin, elevate their energy, and feel like an extension of themselves.

Satvik Style’s ethical approach is also reflected in their products being made slowly and painstakingly by trained artisans, as opposed to hasty production lines. The made-to-order, limited-run drops mean there is less waste and more significance, offering women a singular chance.

About Satvik Style: Satvik Style is a fashion brand and movement dedicated to conscious fashion, inner growth, and body-positive attire. Neha and Leena started Satvik Style, and they design eco-friendly Indian and fusion clothing using natural, high-vibrational textiles. Satvik Style is all about mood-led fashion, universal sizes, and conscious manufacturing to give women solutions that are body-respectful, energy-respectful, and earth-respectful.

Ready to find the perfect outfit that truly reflects your mood and style? Book your free personalized styling session with Satvik Style today and let a personal stylist help you discover conscious, body-positive fashion. Visit our website to schedule your free appointment now.

https://www.satvikstyle.in/pages/book-your-styling-session

Zerodha’s Rainmatter Invests in Capitalmind After Mutual Fund License Win

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Team Happen Recently

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August 13, 2025

Capitalmind Financial Services, a Bengaluru-based wealth management and investment advisory company founded by noted market expert Deepak Shenoy, has secured its first external institutional funding through a Series A investment from Rainmatter, the investment arm of Zerodha co-founder Nithin Kamath.

This milestone investment comes at a pivotal time for Capitalmind, following the company’s recent mutual fund license approval and the successful launch of its maiden scheme — the Capitalmind Flexi Cap Fund. The New Fund Offer (NFO) raised ₹45 crore, with over half of the subscriptions coming through Zerodha’s popular mutual fund investment platform, Coin.

Strengthening Capitalmind’s Vision

Founded with the mission to simplify investing through data-driven strategies, transparent communication, and client-focused wealth solutions, Capitalmind has grown into one of India’s most respected independent investment firms. CEO Deepak Shenoy, a seasoned market commentator and investor, has been a strong advocate for evidence-based investing and long-term wealth creation.

“This is not just funding — it’s a partnership built on mutual respect and a shared vision for empowering Indian investors,” said Deepak Shenoy, CEO of Capitalmind. “Nithin and I have known each other for 15 years, and we’ve often exchanged ideas on making investing accessible, transparent, and more efficient. With Rainmatter’s backing, we are poised to expand our product offerings, enhance our technology, and bring innovative solutions to the market.”

Rainmatter’s Strategic Backing

Rainmatter, the fintech-focused investment initiative by Zerodha, has built a strong portfolio of startups driving innovation in the financial services ecosystem. Beyond capital, Rainmatter offers mentorship, market access, and technological guidance to help companies scale sustainably.

“We’ve admired Deepak’s work and Capitalmind’s disciplined approach for a long time,” said Nithin Kamath, founder of Zerodha and Rainmatter. “Capitalmind’s commitment to data-backed investing, coupled with their focus on educating investors, aligns perfectly with our mission to improve financial literacy and access in India. This investment is not just financial — it’s about enabling a future where wealth management in India is smarter, fairer, and more inclusive.”

Building on a History of Collaboration

The relationship between Kamath and Shenoy extends far beyond the deal table. Shenoy previously served on Zerodha’s advisory board, contributing to strategic insights during the company’s formative years. Over the past decade and a half, the two entrepreneurs have remained in close professional contact, united by a shared passion for disrupting traditional finance through technology and education.

A Competitive Landscape with Collaborative Opportunities

The Indian wealth management sector is undergoing rapid transformation, driven by increasing investor participation, regulatory clarity, and the rise of technology-first solutions. With the mutual fund industry crossing ₹50 lakh crore in assets under management in 2024, new entrants like Capitalmind are well-positioned to serve digitally savvy investors seeking personalized, transparent, and efficient wealth management services.

Zerodha itself operates Zerodha Fund House, an Asset Management Company (AMC) offering index and liquid funds, focusing on low-cost, passive investing strategies. The partnership between Rainmatter and Capitalmind opens possibilities for future collaboration, market synergies, and integrated investor experiences across platforms.

Future Plans for Capitalmind

With fresh capital and strategic backing, Capitalmind aims to:

Expand Investment Product Offerings — Introduce more mutual fund schemes across categories, focusing on flexibility, diversification, and data-driven stock selection.
Enhance Technology Infrastructure — Strengthen its digital platform for clients, offering richer analytics, portfolio insights, and seamless investment execution.
Investor Education & Outreach — Build on its strong content-driven approach with workshops, research reports, and digital media to help retail investors make informed decisions.
Scalable Operations — Strengthen compliance, risk management, and research capabilities to support larger AUM growth.

Industry Reactions

Market watchers view this Series A funding as a sign of growing investor confidence in boutique wealth management firms. “This is a strong endorsement of Capitalmind’s credibility and its potential to disrupt the mid-size wealth management space,” said a Bengaluru-based fintech analyst. “The mutual respect between Kamath and Shenoy could lead to a partnership that goes beyond funding, potentially setting new benchmarks in client experience.”

About Capitalmind Financial Services

Capitalmind Financial Services is a SEBI-registered portfolio management and mutual fund company headquartered in Bengaluru, India. Founded by Deepak Shenoy, Capitalmind offers investment management services driven by quantitative research, deep market insights, and a commitment to transparency. The company also runs Capitalmind Premium, an investor education and research platform with a strong community of members.

Vijay Shekhar Sharma’s Paytm Now 100% Indian-Owned After Ant Financial Exit

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Team Happen Recently

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August 13, 2025

In a landmark development for India’s fintech sector, Chinese fintech giant Ant Financial, an affiliate of Alibaba Group’s Ant Group, has fully divested its stake in One97 Communications Ltd, the parent company of Paytm. The exit marks a significant shift in the ownership structure, making Paytm a fully Indian-owned enterprise.

According to bulk deal data released by the Bombay Stock Exchange (BSE), Antfin (Netherlands) Holding BV, a subsidiary of Ant Group, sold its entire 5.84% stake—equivalent to approximately 3.73 crore equity shares—through open market transactions on Tuesday, August 12, 2025.

The shares were sold in two tranches at prices ranging from ₹1,067.53 to ₹1,067.63 per share, fetching a total of ₹3,980.76 crore.

Milestone Moment for Paytm and Indian Fintech With this transaction, Paytm, led by founder and CEO Vijay Shekhar Sharma, is now entirely owned by Indian shareholders. This development is expected to strengthen Paytm’s positioning as a homegrown leader in the digital payments and financial services industry.

“This marks a new chapter in Paytm’s journey. We are proud to be a fully Indian-owned company, continuing our mission of driving financial inclusion, supporting the government’s Digital India vision, and building innovative products for our customers and merchants.”

Vijay Shekhar Sharma, who founded Paytm in 2010, has been at the forefront of India’s digital payments revolution. Under his leadership, the company has grown from a mobile recharge platform into one of India’s most prominent fintech players, offering a diverse portfolio of services, including payments, banking, lending, insurance, and wealth management.

From Foreign Backing to Full Indian Ownership

Ant Group, formerly known as Ant Financial, became one of Paytm’s largest early backers during its growth phase, providing crucial funding and strategic support as the company scaled rapidly across India. Over the years, Paytm also attracted investments from other global investors, fueling innovation and expansion.

However, with Ant Group’s complete exit, the ownership profile of Paytm has undergone a fundamental change. As of the June 2025 quarter, Antfin held exactly 5.84% of One97 Communications. With the sale completed, no Chinese ownership remains in the company.

Market analysts believe this shift could strengthen Paytm’s brand positioning among Indian consumers and regulators, particularly at a time when domestic ownership and self-reliance in strategic sectors are being emphasized.

The sale price represents a fair market value transaction based on prevailing market rates, indicating stable investor demand for Paytm’s shares despite increased competition in India’s fintech sector.

Industry Context

India’s fintech sector has been undergoing rapid transformation, driven by smartphone penetration, the Unified Payments Interface (UPI), and growing adoption of digital financial services. Paytm has been a key player in shaping this ecosystem, with a merchant network spread across urban and rural India and a suite of consumer-facing financial products.

In recent years, the government has also encouraged reduced dependence on foreign ownership in critical technology and financial infrastructure. The full Indian ownership of Paytm aligns with these policy directions and could pave the way for deeper collaborations with public institutions, state governments, and domestic enterprises.

Industry watchers expect that with its new ownership structure, Paytm will have greater strategic flexibility to pursue domestic partnerships, enhance its merchant base, and expand financial inclusion efforts.

A senior market analyst at a leading brokerage firm commented:

“This is more than a shareholder change—it’s a strategic repositioning. Being fully Indian-owned can help Paytm align more closely with national policy priorities while continuing to innovate in a highly competitive market.”

Paytm has recently been focusing on strengthening its profitability metrics, streamlining operations, and scaling high-margin financial services. Its lending partnerships, Paytm Payment Bank operations, and wealth management services are expected to be key growth drivers in the coming years.

South Korea Mourns After Deadly Jeju Air Runway Accident

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Team Happen Recently

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August 13, 2025

A Jeju Air passenger aircraft, Flight 7C2216, met with a tragic accident on Sunday morning after veering off the runway during landing at Muan International Airport, resulting in multiple fatalities and injuries. The devastating incident has sent shockwaves across South Korea and the international community, prompting immediate investigations into its cause.

According to local media reports, including South Korea’s Yonhap News Agency, more than a dozen people have lost their lives in the crash, with at least 28 confirmed dead as of the latest updates. Several others remain in critical condition, and the number of casualties may rise as rescue operations and medical evaluations continue.

The aircraft, a Boeing 737, was carrying 175 passengers and six crew members on board. Flight 7C2216 had departed from Bangkok, Thailand, and was scheduled to land in Muan around 9:00 AM local time. Upon touchdown, the aircraft reportedly veered off the runway under still-unclear circumstances and collided with a concrete wall bordering the airfield.

Immediate Emergency Response
Emergency services at Muan International Airport responded within minutes of the crash, initiating full-scale evacuation and rescue operations. Firefighters worked swiftly to contain the situation, while paramedics and medical personnel rushed to transport the injured to nearby hospitals. The airport’s disaster response protocol was activated, with additional support from national emergency units and military rescue teams.

Witnesses at the scene described a chaotic and harrowing situation, with smoke and debris visible from the terminal building. “The plane made a loud screeching sound before it left the runway,” said one passenger who survived the crash with minor injuries. “We felt a violent shake, and then everything went dark for a moment.”

Airline Statement and Support for Victims
Jeju Air has expressed deep sorrow over the tragedy and pledged its full cooperation with authorities to determine the cause of the accident. In a brief statement, the airline said:

“We are heartbroken by the loss of life in today’s accident involving Flight 7C2216. Our thoughts and prayers are with the families and loved ones of those who perished, as well as with the survivors who are recovering from their injuries. Jeju Air is working closely with South Korean aviation authorities to ensure a thorough investigation. We are providing immediate assistance and counseling services to the victims’ families.”

The airline has also established a dedicated hotline for family members seeking information and has deployed a crisis management team to Muan International Airport to support survivors and coordinate relief measures.

Investigation Underway
South Korea’s Ministry of Land, Infrastructure, and Transport (MOLIT) has launched an official investigation into the incident. Preliminary reports indicate that weather conditions at the time of landing were stable, suggesting that other factors — including potential technical malfunctions, runway conditions, or pilot error — will be closely examined.

Officials from Boeing and the U.S. National Transportation Safety Board (NTSB) are expected to participate in the inquiry, in accordance with international aviation accident protocols. Black box recorders from the aircraft will be retrieved and analyzed to shed light on the final moments before the crash.

Airport Operations Temporarily Suspended
Following the accident, Muan International Airport has suspended all flight operations until further notice to allow rescue and investigation teams unrestricted access to the crash site. Passengers scheduled to travel via Muan are being re-routed to other regional airports, including Gwangju and Incheon.

National Mourning and Global Condolences
The South Korean government has expressed deep condolences to the victims and their families. President Yoon Suk-yeol issued a statement, saying:

“This is a tragic day for our nation. We mourn the loss of innocent lives and stand united in grief. The government will do everything possible to support the victims’ families and ensure that the cause of this terrible accident is swiftly determined.”

Messages of sympathy have also poured in from leaders worldwide, including from Thailand, where the flight originated, as well as from neighboring Asian nations.

Safety Record and Broader Implications
While South Korea has maintained a strong aviation safety record in recent years, this incident marks one of the deadliest air disasters in the country in more than a decade. The tragedy is expected to reignite discussions on runway safety, pilot training, and emergency preparedness protocols at regional airports.

Aviation analysts note that runway excursions — where an aircraft departs from the runway during landing or takeoff — can occur for a variety of reasons, and determining the exact cause will require a detailed review of flight data and maintenance records.

Commitment to Transparency and Safety
Both Jeju Air and South Korean aviation authorities have pledged transparency throughout the investigation process. Regular updates will be provided to the public as new information emerges. In the meantime, counseling centers have been set up in Muan and other major cities to assist grieving families and traumatized survivors.

26 Nations Demand Gaza Ceasefire Amid Worsening Humanitarian Crisis

By

Team Happen Recently

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August 13, 2025

In a coordinated diplomatic appeal, twenty-six countries, including the United Kingdom, France, and Canada, have issued a joint statement calling for an immediate end to the ongoing war in Gaza. The statement condemns the “horrifying” killing of hundreds of Gazan civilians who were attempting to access aid under Israel’s current delivery model, which the signatories describe as “dangerous, destabilizing, and degrading to human dignity.”

The countries’ joint declaration marks one of the most unified international calls for a ceasefire since the conflict began, highlighting urgent humanitarian concerns and warning of catastrophic consequences if immediate action is not taken.

“The Israeli government’s aid delivery model is dangerous, fuels instability and deprives Gazans of human dignity,” the statement read, underscoring the collective alarm over the rising civilian death toll and worsening living conditions in the enclave.

ISRAEL RESPONDS, REJECTING STATEMENT
The Israeli government has firmly rejected the criticism. Oren Marmorstein, spokesperson for Israel’s foreign ministry, responded that the statement was “disconnected from reality” and reiterated that the government “rejects” its assertions. Israel maintains that its military operations are aimed at dismantling Hamas’ military capabilities and securing the release of Israeli hostages believed to be held in Gaza.

ESCALATING HUMANITARIAN CRISIS
The joint statement comes as international food security experts warn that Gaza is on the brink of a famine-like disaster. According to the Integrated Food Security Phase Classification (IPC), a global body specializing in food security analysis, more than 1.5 million people in Gaza—approximately two-thirds of the territory’s pre-war population—are at risk of severe malnutrition or starvation until at least October.

The IPC report states that “goods indispensable for people’s survival are either depleted or expected to run out in the coming weeks.” Nearly 500,000 people are already classified as facing “catastrophe” (IPC Phase 5), the most severe level of food insecurity, while an additional 1.1 million are in the “emergency” category (IPC Phase 4), the second highest on the scale.

Aid agencies have repeatedly stressed that restricted access to essential supplies, combined with the destruction of infrastructure and mass displacement, is accelerating the crisis. Medical experts also warn of an imminent public health emergency due to shortages of clean water, medicines, and sanitation facilities.

GROUND ASSAULT IN CENTRAL GAZA
Tensions escalated further on Monday as Israel launched its first ground assault on Deir al-Balah in central Gaza. The area, now overcrowded with thousands of displaced civilians from southern Gaza, is also believed to be a location where some Israeli hostages are being held.

Eyewitness accounts describe chaotic scenes as families fled bombardments, seeking shelter in already overcrowded facilities, including schools and makeshift camps. Humanitarian organizations on the ground have warned that the military action in such a densely populated area risks significant civilian casualties and could worsen the already dire humanitarian conditions.

INTERNATIONAL DIPLOMATIC PRESSURE BUILDS
The signatory countries of the joint statement have urged all parties to respect international humanitarian law, ensure the unimpeded delivery of aid, and prioritize civilian safety. While their message stops short of outlining specific sanctions or punitive measures, diplomatic insiders suggest that further coordinated action could follow if the conflict continues unabated.

This appeal reflects growing frustration among international actors over the prolonged hostilities, which have now entered a new phase with Israel’s intensified ground operations. The ongoing violence has already displaced the majority of Gaza’s population, with no clear pathway toward a ceasefire or peace negotiations.

HUMAN RIGHTS AND AID ORGANIZATIONS REACT
Global humanitarian and human rights organizations have welcomed the statement as a long-overdue acknowledgment of the severity of the crisis.

“This level of coordinated diplomatic condemnation is significant,” said one spokesperson for a leading humanitarian agency. “However, words must be followed by concrete action to stop the bloodshed and ensure lifesaving aid reaches those who need it most.”

Several aid agencies have reiterated calls for the establishment of secure humanitarian corridors, increased funding for relief efforts, and an immediate suspension of hostilities to allow critical supplies to enter Gaza without obstruction.

NEXT STEPS
While the joint statement represents a notable diplomatic push, its practical impact remains uncertain. Israel has shown no indication of halting its military operations, and political divisions within the broader international community continue to complicate efforts toward a negotiated peace.

Nonetheless, the united front displayed by these 26 countries could signal a turning point in international engagement, especially if followed by more assertive measures in global forums such as the United Nations.

As the conflict continues, the situation in Gaza remains volatile, with mounting civilian casualties, deteriorating humanitarian conditions, and a growing risk of famine. Without swift and coordinated intervention, experts warn that the territory could face one of the worst humanitarian crises in recent history.