HSBC PE invests in FINO

Financial Information Networks and Operation (FINO) has raised Rs 70 crore in a new round of private equity funding from HSBC Private Equity. Existing investors Intel Capital and International Finance Corporation (IFC) have also participated in this round. FINO provides transactional systems to the unbanked sector and also provides enrollment for customer acquisition. It provides these services to clients like banks, microfinance institutions and insurance companies.

Boom bust cycles – fueled by media?

The news flow this week and the manner in which media, especially Indian media has reacted to it has in many ways corroborated what’s been on mind for some time now, which is – the media’s role in precipitating boom bust cycles. From the “World is coming apart, again, because of the Dubai debt crisis” to “We are back in business thanks to smashing GDP growth in India”, the difference in projected moods could not have been starker. One could argue that it is expected of the media to report actual happenings and if that’s the way things are unfolding, so be it. However, it is not the Dubai crisis or the impressive India GDP nos in particular, but the general manner of news reporting in India itself that I’d like to touch upon.