South Indian Bank Launches SIB Power CONSOL, Offering a Single-EMI Solution for Multiple Loan Obligations

South Indian Bank has announced the launch of SIB Power CONSOL, a new loan product designed to support customers reorganize and manage multiple debts more efficiently, with reduced interest rates and unified EMI. Targeted at salaried customers, SEP (Self-Employed Professionals), and SENP (Self-Employed Non-Professionals) between 30 and 55 years of age, the product aims to simplify repayment and reduce the financial burden caused by managing multiple loans at once.

SIB Power CONSOL enables customers to consolidate various loans—including home loans, car loans, education loans, personal loans, and consumer durable loans—into a single loan with a lower interest rate and unified EMI. By doing so, the Bank acts as a Debt Counsellor, offering customers a clearer and more manageable repayment structure. This is a property based loan where the customer can mortgage either house property or commercial buildings and borrow upto 75% of the property value, optimising its worth without disposing it. SIB Power CONSOL is having consolidation options ranging widely from Rs.10.00 lakh to Rs.3.00 Crores.

Under the new product, Individuals can avail of consolidation loans ranging from ₹10 lakh to ₹3 crore, with repayment terms of up to 15 years for consolidated loans and up to 30 years for home loan balance transfers. Once the loan is approved, SIB will directly clear the customer’s outstanding dues, replacing them with a single, manageable monthly repayment aligned with their current financial capacity. Adopting the Repayment Track Record-based lending, SIB Power CONSOL keeps the documentation very minimal. Zero processing fee also adds to its unique features.

This new product highlights SIB's commitment to offering smart financial solutions that cater to individuals' evolving needs. The product also helps reduce the overall financial burden associated with high-interest loans. The lower interest rates on consolidated loans offered by SIB will reduce the financial burden on customers. They will also benefit from the long-term repayment options offered through this service.

For more information on SIB Power CONSOL, visit your nearest South Indian Bank branch or log on to https://www.southindianbank.com/

About South Indian Bank:

South Indian Bank is a Kerala-based private sector Bank with a nationwide presence. The Bank’s shares are listed on the Stock Exchange Mumbai (BSE) and the National Stock Exchange of India Ltd., Mumbai (NSE). South Indian Bank has 948 branches, 5 Ultra Small Branches / Satellite Branches, 1143 ATMs, and 126 CRMs across India and a representative office in Dubai, UAE. For more information, please log on to https://www.southindianbank.com/

India Opens New Space Chapter with First Private PSLV Launch in 2026

Representative Image 

India’s first privately built PSLV (Polar Satellite Launch Vehicle) is scheduled for launch in early 2026, marking a historic milestone in the country’s space sector. The mission, PSLV-N1, will carry the EOS-10 earth observation satellite and represents the first time India’s flagship rocket is being manufactured outside ISRO by private industry partners.

Key highlights of the 2026 launch

• Consortium-led build: Hindustan Aeronautics Ltd. (HAL) and Larsen & Toubro (L&T) are jointly manufacturing the rocket under ISRO’s supervision.
• Mission payload: The debut flight, PSLV-N1, will carry the EOS-10 earth observation satellite, designed for imaging and monitoring applications.
• Timeline shift: Originally planned for early 2025, the launch was delayed due to satellite readiness issues, now rescheduled for early 2026.
• Production scale: HAL and L&T are contracted to build five PSLVs initially, with scope for more depending on ISRO’s commercial pipeline.
• Commercial expansion: This launch is part of India’s broader space-sector reforms (initiated in 2020), which opened rocket manufacturing and satellite services to private players.

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Why this matters

• Privatization milestone: Until now, PSLVs were exclusively built by ISRO. This marks the first time India’s most reliable rocket is fully manufactured by industry, signaling a new era of commercialization.
• Boost to space economy: India’s space economy, valued at USD 8.2 billion in 2025, is projected to grow to USD 44 billion by 2033. Private PSLV production is expected to accelerate this growth.
• Launch cadence: ISRO has scheduled seven launches by March 2026, with multiple PSLV missions expected in the same year.
• Global competitiveness: By involving private industry, India aims to reduce costs, increase launch frequency, and attract international satellite customers.

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Strategic implications

• Industrial capacity: HAL and L&T’s involvement shows India’s aerospace industry is now capable of building complex launch vehicles end-to-end.
• Policy reforms at work: Institutions like IN-SPACe (Indian National Space Promotion and Authorisation Centre) and NSIL (NewSpace India Limited) are enabling private participation and commercialization.
• Future outlook: If successful, private PSLVs could pave the way for commercial GSLV and SSLV production, expanding India’s role in the global launch market.

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In short: India’s first private PSLV launch in 2026 is more than just a rocket flight—it’s the beginning of a new chapter where private industry takes center stage in building and operating India’s most trusted launch vehicle. This could dramatically reshape India’s space economy and global standing in the coming decade.

Timeline of PSLV milestones 1993–2026

Here’s the timeline infographic you asked for — it captures India’s PSLV journey from its very first flight in 1993 to the upcoming private-sector milestone in 2026.

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What the Timeline Shows

• 1993 – PSLV-D1: First flight (partial failure, but crucial learning).
• 1994 – PSLV-D2: First successful flight, proving India’s indigenous launch capability.
• 2008 – PSLV-C11: Chandrayaan-1, India’s first lunar mission.
• 2017 – PSLV-C37: Record-breaking launch of 104 satellites in a single mission.
• 2020 – Space reforms: Private participation formally allowed in India’s space sector.
• 2022 – PSLV-C54: Oceansat-3 launch, strengthening earth observation capabilities.
• 2026 – PSLV-N1: First privately manufactured PSLV, built by HAL & L&T, carrying EOS-10.

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Why It Matters

• This timeline shows how PSLV evolved from a government-built rocket into a commercially manufactured vehicle.
• It symbolizes Invdia’s transition to a public-private space ecosystem.
• The 2026 launch is not just another mission — it’s a structural shift in India’s space economy.
• It opens the door for more private builds of PSLV, GSLV, and beyond. 

Apple, Amazon, Meta Join Forces Against Indian Telcos Over 6 GHz Wi‑Fi Spectrum

Apple, Amazon, Cisco, Meta, along with HP and Intel, have formally opposed Reliance Jio and Vodafone Idea’s push to allocate the 6 GHz band for mobile services, instead urging that the entire band be reserved for Wi‑Fi use.

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What’s happening

• Indian telcos’ demand: Reliance Jio and Vodafone Idea want the 6 GHz band (6425–7125 MHz) included in upcoming spectrum auctions for mobile broadband expansion.
• Tech majors’ stance: Apple, Amazon, Cisco, Meta, HP, and Intel submitted a joint response to TRAI’s consultation paper, opposing this demand. They insist the band should be allocated to Wi‑Fi services, not mobile networks.
• Government’s plan: India has said 400 MHz of the 6 GHz band is available for auction now, 300 MHz will be available by 2030, and 500 MHz will be delicensed for low‑power Wi‑Fi applications.

Why the clash matters

• Telcos’ argument: Mobile operators want more spectrum to handle surging data demand, especially for 5G and future 6G.
• Tech giants’ counterpoint: The 6 GHz band is globally being opened for Wi‑Fi, supporting faster, more reliable connectivity in homes, offices, and public spaces; technical readiness for mobile (IMT) use is not established, making allocation for IMT premature; Wi‑Fi expansion benefits device makers and enterprise networks, aligning with their ecosystem strategies.

Global context

• United States & Europe: Large portions of the 6 GHz band have already been delicensed for Wi‑Fi 6E and Wi‑Fi 7.
• India’s decision: Will set a precedent for balancing licensed spectrum for telcos vs. unlicensed spectrum for tech ecosystems.

Key takeaways

• Allocation preference: Tech majors want 6 GHz for Wi‑Fi, not mobile.
• Telco position: Indian telcos want it auctioned for 5G/6G expansion.
• Policy path: Government is considering a hybrid approach—auctioning part, delicensing part, and holding back some for future use.
• Impact: The outcome will shape India’s digital infrastructure, influencing whether homes and enterprises get faster Wi‑Fi or telcos get more mobile spectrum.

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Comparative Map of 6 GHz Spectrum Allocation

Region	Allocation Decision	Key Details	Policy Direction
United States	Entire 6 GHz band (5925–7125 MHz) opened for unlicensed Wi‑Fi	Supports Wi‑Fi 6E and Wi‑Fi 7; FCC made full band available for Wi‑Fi in 2020	Strong push for Wi‑Fi ecosystem; telcos rely on other mid‑bands for 5G
European Union	Lower 6 GHz (5925–6425 MHz) opened for Wi‑Fi; upper 6 GHz (6425–7125 MHz) under debate	Wi‑Fi Coalition and Dynamic Spectrum Alliance lobbying for full unlicensed access; mobile operators want upper band for IMT	Split approach; EU regulators still deciding on upper band, but momentum favors Wi‑Fi
China	Upper 6 GHz (6425–7125 MHz) allocated for licensed mobile (5G/6G)	MIIT calls 6 GHz “the only high‑quality mid‑band” for future mobile; already positioned for 5G/6G rollout	Clear pro‑mobile stance; prioritizes IMT over Wi‑Fi
India	400 MHz for auction now, 300 MHz by 2030, 500 MHz delicensed for Wi‑Fi	TRAI consultation ongoing; telcos (Jio, Vi) want more for IMT, while tech majors (Apple, Amazon, Cisco, Meta, Intel, HP) demand full Wi‑Fi allocation	Hybrid model: partial auction + partial Wi‑Fi; balancing telco needs with device ecosystem

Key Insights

• US & EU: Favor Wi‑Fi, seeing it as critical for homes, enterprises, and innovation.
• China: Prioritizes mobile operators, ensuring 6 GHz strengthens 5G/6G capacity.
• India: Trying to balance both worlds—auctioning some spectrum for telcos while delicensing a large chunk for Wi‑Fi.

Why This Matters

• For consumers: Wi‑Fi allocation means faster, cheaper connectivity indoors; mobile allocation strengthens outdoor 5G/6G coverage.
• For industry: Device makers benefit from Wi‑Fi expansion; telcos benefit from IMT allocation.
• For policy: India’s hybrid stance could become a global test case for balancing competing ecosystem demands.

Wealthy Secures ₹130 Cr in Funding Led by Bertelsmann India Investments to Scale Its AI-powered Platform for Mutual Fund Distributors

• The company will use this capital to further invest in technology, expand into Tier 2 and Tier 3 geographies, onboard 50,000 distributors, and achieve ₹1 lakh crore in AUM.
• Wealthy combines human trust with AI-powered technology to help independent professionals become sophisticated wealth entrepreneurs, making wealth management scalable, personalized, and accessible for millions of Indians.

Wealthy.in, India’s leading wealth-tech platform for mutual-fund distributors and wealth management professionals, has raised ₹130 crore in a Series B round led by Bertelsmann India Investments. The round also saw participation from existing investor Alphawave Global, new investor Shepherd's Hill, and a group of prominent tech entrepreneurs.

Founded by IIT–IIM alumni Aditya Agarwal and Prashant Gupta, Wealthy’s platform processes over ₹300 crore in monthly transactions and works with a network of more than 6,000 mutual fund distributors serving over 100,000 clients across 1,000+ towns. It has also emerged as India’s second-largest recruiter of distributors, onboarding more than 350 every month. Client assets worth ₹5,000 crore are currently being managed on the platform.

Wealthy.in’s Series A was led by Alphwave Global in 2022 and in the last three years the company's AUM has grown from ₹200 crore to ₹5,000 crore underlying the rapid expansion of business. Wealthy has 20 offices across India, with a strong presence in major cities including Bengaluru, Mumbai, Hyderabad, Ahmedabad, Surat, Jaipur, Gurugram, Delhi, Faridabad, Ghaziabad, Lucknow, Kanpur, and Kolkata — supported by a 250+ member team.

The fresh capital will accelerate Wealthy's mission to empower India's rapidly growing mutual fund distributors (MFDs) with advanced AI-powered tools and digital infrastructure, transforming how Indian investors save, invest, and build long-term financial wealth.

With mutual fund AUM at 75 lakh crore and India’s wealth management market projected to double to 200 lakh crore by FY29, independent MFDs have become the backbone and growth engine of the retail wealth industry. Their numbers have doubled to nearly 2 lakh in the last five years, as investors increasingly prefer independent distributors who are unaffiliated with product manufacturers and can offer unbiased guidance.

Yet, most lack the digital infrastructure, tools, and product access needed to compete with institutional players. MFDs continue to spend nearly 70% of their time on manual processes such as KYC and compliance, limiting their ability to scale and focus on client engagement.

"India has a fundamental advice gap that technology alone cannot solve. LIC serves over 40 crore customers, yet mutual funds have only 5 crore investors—this gap exists because we have too few advisors, and the ones we have lack the tools to scale," said Aditya Agarwal, Co-founder of Wealthy. "MFDs have done a phenomenal job building trust and relationships, but to scale to the next level, they needed technology investment that was missing from the ecosystem. We've built a mobile-first, India-made solution designed specifically for how Indians invest and how Indian advisors work. Our platform combines the irreplaceable value of human advice with AI-powered tools, enabling wealth partners to deliver institutional-quality service at scale. This is how we'll bridge the advice gap and bring sophisticated wealth management to millions.”

According to RBI data on Household Flow of Financial Assets, equity mutual funds attracted ₹4.66 lakh crore in net inflows in FY25—an increase of more than seven times in the last five years. While existing portfolios continue to compound with market gains, new wealth creation is increasingly flowing through managed investment vehicles like mutual funds.

"Our vision is to unlock a completely new supply of wealth entrepreneurs across India,” said Prashant Gupta, Co-founder of Wealthy. “We're seeing relationship managers, ex-bankers, and finance professionals leave traditional roles to build independent practices. These professionals are becoming true wealth entrepreneurs, running their own businesses and building long-term equity. Wealthy provides everything they need: comprehensive technology, professional tools, access to products across all asset classes—mutual funds, equities, bonds, PMS, AIFs—combined with insurance and financial solutions. This holistic approach empowers distributors to serve as genuine wealth partners to their clients, not just product distributors. That's the future we're building."

“Less than 15% of Indian households have any exposure to the Indian equities market, either directly or indirectly. As India marches on its way to being a developed country, we believe this number will move closer to 60% and catch up with developed markets. Wealthy will play a critical role in this mission as it provides cutting edge technology, as well as access to multiple products to MFD’s all over the country. We are excited to partner with Aditya and Prashant on this journey of financial inclusion and creation of the next big wealth-tech platform in the country,” said Rohit Sood, Partner at Bertelsmann India Investments.

Wealthy’s AI-powered platform offers a complete 360° solution, combining investments - mutual funds, stocks, PMS, FDs, fixed income securities - and protection products like term and health insurance in one place. With dedicated apps for both clients and distributors, it enables seamless access to 200+ financial institutions across a full range of financial products across multiple asset classes.

It empowers independent distributors with:

• AI-Powered Advisory Workflows: Real-time alerts for pending tasks, portfolio insights, risk tracking, and client engagement—shifting them from reactive to proactive advisory.
• AI-enabled onboarding: Clients can now complete KYC and start investing within two minutes
• Enterprise-Grade Distributor Tools: Personalized websites, branded client applications, and professional marketing resources that elevate MFDs to credible distributors with institutional-level digital presence.
• Data-Driven Insights & Analytics: Advanced analytics that provide distributors with portfolio performance tracking, client behavior patterns, and business growth metrics to make informed advisory decisions.

FinReach Strengthens Risk-Tech Platform with ₹21.9 Cr Infusion Led by Colossa Ventures

FinReach Solutions, India’s pioneering private-sector credit guarantee facilitation services provider, has raised ₹21.9 Cr in fresh funding. The round was led by Colossa Ventures and existing impact investors Michael & Susan Dell Foundation, Omidyar Network Fund Inc and Caspian SME Impact Fund IV.

This latest capital infusion builds on FinReach’s ₹32.5 crore previously raised from its existing investors.

FinReach facilitates India’s first privately led Credit Guarantee Program, designed to unlock lending for micro, small, women-led, agri and climate-focused enterprises. By connecting eligible guarantors with lenders, FinReach reduces credit risk for lenders—making it easier for viable small businesses to access affordable finance and grow. The company leverages its proprietary, technology-driven analytics platform to assess risk and enable credit access for MSMEs at scale, while optimizing for higher capital efficiency.

The newly raised capital will be used to scale operations and strengthen FinReach’s risk and technology platform, deepening its ability to assess and facilitate guarantees at speed and scale.

Access to credit is a fundamental driver of economic empowerment, said Suvalaxmi Chakraborty, Founder and Managing Director of FinReach. Micro and small enterprises are the heartbeat of India’s local economies. Our mission is to bridge the gap between lenders and unserved & underserved entrepreneurs. This fundraise will help us expand our guarantee facilitation business and enhance our risk & tech stack to make lending more inclusive and efficient.

Ms. Chakraborty brings over 35 years of leadership experience in banking and financial services, including senior roles at ICICI Bank, Barclays Bank, and as CEO of State Bank of Mauritius (India). Her deep industry expertise continues to guide FinReach’s strategy and impact.

Ashu Suyash, Founder & CEO, Colossa Ventures added, 

At Colossa Ventures, we back businesses addressing India’s most critical gaps with scalable, purpose-led innovation. FinReach embodies this mission through its credit analytics and technology-driven credit guarantee platform that expands formal credit access for underserved MSMEs. By de-risking lenders and enabling viable entrepreneurs to secure timely, affordable capital, FinReach is catalysing meaningful economic inclusion. Our investment reflects our conviction in their approach of building the next-generation infrastructure of trust for small business lending in India.”

FinReach has forged strategic partnerships with prominent development finance institutions, such as British International Investment - the UK’s development finance institution & impact investor, as well as global foundations like the Michael & Susan Dell Foundation, reflecting strong partner confidence in its mission. Together, these collaborations are paving the way for broader financial inclusion and women’s entrepreneurship across India.

Founded in December 2020, FinReach focuses on Tier-3 to Tier-5 regions—helping micro-entrepreneurs, women-led businesses, and smallholder farmers overcome the lack of collateral that often blocks access to formal credit. So far, FinReach’s programs have positively impacted more than 14,150 individuals, including over 2,050 women borrowers.

By mitigating credit risk and building confidence among lenders, FinReach is not only driving financial inclusion but also fueling entrepreneurship, job creation, and sustainable economic growth across India.