India

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IIFL Fintech Fund Closes $55 Million Round as Investor Interest Surges in India’s Fintech Sector

Jan. 22, 2026 | Financial System

India’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 | Environment

Delhi 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

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Need to strengthen development trajectory in Manipur: PM

Times of India | English | News | Jan. 23, 2026 | UndeterminedEconomic Growth

Prime Minister Narendra Modi emphasized the need for renewed efforts to strengthen the development trajectory in Manipur, a state affected by ethnic strife. He assured the state administration of the Centre’s full and steadfast support, recalling his visit to Manipur in September 2025 as part of efforts to defuse ethnic tensions between the Meiteis and Kukis and restore normalcy.

In his letter to Manipur Governor Ajay Kumar Bhalla, Modi praised the people of Manipur for their courage and faith in peace and progress. He highlighted the government’s commitment since 2014 under the ‘Act East, Act Fast’ resolve to empower the region, unlock opportunities, and fulfill local aspirations.

Modi also wrote to the chief ministers of Tripura and Meghalaya on their statehood days, acknowledging past feelings of alienation from the national mainstream in the Northeast. He pointed to the 2024 peace accord in Tripura with insurgent groups NLFT and ATTF as a turning point, marking a new era of hope. For Meghalaya, he noted that development had stagnated before the NDA government took office in 2014 and has since worked extensively to transform the region.

'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.

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