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India
Intelligence for Better Decision Making
IIFL Fintech Fund Closes $55 Million Round as Investor Interest Surges in India’s Fintech Sector
Jan. 22, 2026 | Financial SystemIndia’s fintech sector is attracting substantial capital, with investors showing particular interest in generative AI applications within financial services.
**IIFL Fintech Fund, backed by the IIFL Group, has closed its second fundraising round at Rs 500 crore (approximately $55 million), focusing on early- to growth-stage fintech startups.**
The fund secured commitments primarily from domestic family offices and high-net-worth individuals and intends to deploy capital across 20–25 portfolio companies. It will reserve 20–25 percent of its corpus for follow-on investments in the top performers from its inaugural fund. After a first close at Rs 200 crore, the vehicle has already invested in five companies—GrayQuest, Fundamento, Knight Fintech—and acquired secondary shares in Leegality.
Founded in 2021, IIFL Fintech completed its first fund at Rs 200 crore in 2022, building an initial portfolio that includes Leegality, FinBox, DataSutram, Insurance Samadhan, and TrustCheckr, which was later acquired by Truecaller.
**Fintech in India is growing rapidly as digital adoption rises, financial inclusion expands, and innovation accelerates across payments, lending, and wealth management.**
Investor interest remains robust at all stages, supported by dedicated funds such as Quona Capital and Cedar-IBSi Capital. More broadly, private equity and venture capital firms in India raised $10.97 billion by December 17, 2025, up nearly 52 percent from $7.19 billion in 2024.
Delhi-NCR Eases Air Quality Restrictions Amid Persistent Enforcement Shortfalls
Jan. 22, 2026 | EnvironmentDelhi and its neighbouring states have adjusted policy and infrastructure measures to address persistent air quality challenges in the Delhi-NCR region.
**On January 20, 2026, the Commission for Air Quality Management revoked Stage IV of the Graded Response Action Plan for Delhi-NCR after the region’s Air Quality Index improved slightly to 378 (“Very Poor”) and was expected to remain stable.**
Although Stage IV measures, triggered when AQI exceeds 450, were lifted, the commission confirmed that measures under Stages I (AQI 201–300), II (301–400) and III (401–450) remain mandatory to prevent further deterioration, particularly given challenging winter meteorological conditions.
**However, a review of reports from the Delhi Pollution Control Committee and the State Pollution Control Boards of Haryana and Uttar Pradesh exposed widespread enforcement failures.**
Authorities fell short on 7 percent to 99.6 percent of critical pollution control measures. Inspections at construction and demolition sites were especially deficient, with Delhi reporting an 87 percent shortfall and Haryana districts in NCR registering 99.6 percent. Mechanical road sweeping and other road dust control measures also saw inadequate implementation in both Delhi and Haryana.
**Moreover, compliance did not improve during the period when Stage IV was in force.**
On December 24, when air quality reached “Severe” or “Severe+,” some NCR states recorded 100 percent inspection shortfalls. Public grievance redressal mechanisms similarly underperformed: 68 percent to 81 percent of complaints across Delhi, Haryana and Uttar Pradesh remained unresolved. The commission warned that such enforcement lapses seriously undermine efforts to improve air quality and reiterated that GRAP provisions are legally binding at all times.
**Under the continuing Stage III restrictions, authorities require schools up to grade 5 to shift to hybrid or online learning where feasible, impose strict controls on dust-producing construction and demolition activities (including earthwork, piling, open-trench utility laying, brickwork, painting and roadworks), and regulate movement of dust-generating materials and traffic on unpaved roads.**
They have also limited use of BS-III petrol and BS-IV diesel vehicles—except for persons with disabilities—and maintained the ban on non-essential BS-IV or older diesel medium goods vehicles in Delhi. State authorities may allow 50 percent on-site staffing in offices while the remainder work remotely.
Monitored Intelligence for India - Jan. 23, 2026
News
Media
160
Government
Releases
7
City/State
Releases
0
Embassy
Releases
1
Foreign
Service
Advisories
0
Service
Advisories
0
Academic/
Think
Tank
5
Think
Tank
5
Podcasts
0
Videos
0
Social
Media
0
Business
Releases
0
Erudite Risk takes an all risks approach to intelligence reporting. We categorize key intelligence into one of 40 different risk intelligence categories.
The goal is to provide intelligence that allows decision makers to avoid being blindsided by what they may have missed, while informing them to make better decisions as well.
Risk Categories Reported on Today
Risk Category
Items Reported On
Geopolitical Conflict and Disputes
17
Protest, Demonstration, Dissent
1
Communal and Religious Strife
5
Crime
2
Corporate Corruption or Fraud
1
Regulation
11
Terrorism
3
Political Scandal or Corruption
5
Accidents
2
Shifting Geopolitical Alliances
3
Extreme Weather Events
1
Critical Infrastructure Failure
1
Pollution
1
Regulatory Enforcement Actions
1
Erudite Risk also includes operations categories so you can monitor the environment for better decision making. Everything is tied together--what happens in risk affects operations and what happens in the market impacts risk profiles.
We categorize key intelligence into one of 30 different operations intelligence categories.
Different roles and functions within the organization can monitor different key issue areas. HR may monitor employment, wages, regulations, labor and management relations, etc., while P&L leaders may monitor overall developing trends.
Operations Categories Reported on Today
Operations Category
Items Reported On
Operating Results
7
Asset Price Change
4
Bizdev-Partnering
4
Wages and Compensation
1
Financial System Problems
1
Tech Development/Adoption
6
Legal Exposure
2
Economic Growth
6
Politics and Elections
3
Trade Issues and Numbers
2
Investor Sentiment
1
Budgets-Budgeting
1
'Going to have a good deal': Trump on India-US trade deal, says has "great respect" for PM Modi
The Economic Times | English | News | Jan. 23, 2026 | UndeterminedTrade Issues and Numbers
US President Donald Trump expressed confidence in the India-US Bilateral Trade Agreement (BTA), stating that the two countries are "going to have a good deal." He praised Indian Prime Minister Narendra Modi as a close friend and a respected leader during an interview with Moneycontrol following his address at the 56th Annual Summit of the World Economic Forum.
India's Commerce Secretary Rajesh Agrawal indicated that the first tranche of the BTA is "very near," though he did not provide a specific timeline. The agreement, formally proposed in February 2025, aims to more than double bilateral trade between India and the US from USD 191 billion to USD 500 billion by 2030.
The trade talks were initiated during Prime Minister Modi's visit to Washington in February 2025. The Ministry of External Affairs confirmed that since February 2025, both countries have conducted multiple negotiation rounds to reach a balanced and mutually beneficial agreement, with several occasions where they were close to finalizing the deal.
NEP 2026: Power sector to offer 24x7 reliable supply compensation for non-compliance
Hindu Business Line | English | News | Jan. 23, 2026 | Regulation
The draft National Electricity Policy (NEP) 2026 aims to improve power supply quality in India by ensuring 24x7 reliable electricity with compensation for non-compliance and timely grievance resolution. The policy aligns with India's vision to become a developed nation by 2047 and supports the goal of a $30-trillion economy alongside energy independence. It emphasizes a financially viable, environmentally sustainable power sector that prioritizes consumer needs, offering choices in power supply and usage.
NEP 2026 mandates a consumer-centric framework that includes robust, technology-enabled grievance redressal systems for transparency and accountability. State Electricity Regulatory Commissions (SERCs) are tasked with specifying performance standards for licensees, which must meet or exceed the Central government's minimum criteria. Distribution licensees will publicly share service quality data, monitored down to the distribution transformer level for both urban and rural areas, with SERCs ensuring compliance and compensation for failures.
The policy highlights the importance of investments across various energy technologies based on minimizing consumer costs, rapid deployment, reducing reliance on imported fuels, and maximizing social and environmental benefits. It also proposes streamlined grievance redressal mechanisms incorporating online complaint filing and virtual hearings, along with periodic consumer satisfaction surveys conducted by State Commissions to assess service quality and responsiveness.
India-US trade talks: Trump shares update, praises PM Modi — ‘We are going to…’
Livemint | English | News | Jan. 23, 2026 | UndeterminedTrade Issues and Numbers
US President Donald Trump expressed optimism about the prospects of the India–US Bilateral Trade Agreement (BTA), stating that the two countries are “going to have a good deal.” He praised Indian Prime Minister Narendra Modi as a close friend and respected leader while acknowledging ongoing tough negotiations, particularly over tariffs and geopolitical issues related to Russian oil imports. Trump highlighted India’s recent reduction of oil purchases from Russia in response to US pressure but noted that tariffs remain a point of contention.
The proposed BTA aims to more than double bilateral trade between India and the US, targeting USD 500 billion by 2030 from the current USD 191 billion. Talks first began during Modi’s Washington visit in February 2025, with multiple negotiation rounds since. Despite tensions, India’s Ministry of External Affairs affirmed that talks have not stalled, emphasizing ongoing commitment from both sides to reach a balanced and mutually beneficial trade agreement.
MEA spokesperson Randhir Jaiswal rejected claims that Modi did not engage sufficiently with Trump, confirming frequent communications between the two leaders in 2025. This followed comments by US Commerce Secretary Howard Lutnick, who suggested Modi was reluctant to engage directly with Trump, which he said contributed to higher tariffs and delays in the trade deal.
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