Tata Power, DGPC Launch Training Ecosystem to Support Bhutan’s 5,000 MW Clean Energy Vision

• Aim to build a future-ready workforce to support the operation and maintenance of large-scale clean energy assets under the strategic partnership
• Hon’ble Prime Minister of Bhutan, Lyonchhen Tshering Tobgay, graced the MoU signing ceremony at Thimphu
• Training programmes will be delivered through Tata Power Skill Development Institute

Tata Power, one of India’s largest integrated power utilities, and Druk Green Power Corporation (DGPC), the sole power generation utility of Bhutan, signed a Memorandum of Understanding (MoU) in Thimphu, Bhutan, to establish a comprehensive skill development ecosystem.

The MoU lays the foundation for a structured training framework aimed at building a future-ready workforce to address both immediate and long-term requirements under the ongoing partnership between Tata Power and DGPC to jointly develop clean energy projects.

The MoU signing ceremony, was graced by the Hon’ble Prime Minister of Bhutan, Lyonchhen Tshering Tobgay. The MoU was formally signed by Dr Praveer Sinha, CEO & Managing Director, Tata Power, and Dasho Chhewang Rinzin, Managing Director, DGPC. Ms Anjali Pandey, President- Generation, Tata Power, along with other senior representatives from Tata Power, DGPC, and relevant institutions, were also present at the ceremony.

Training programmes will be delivered through the Tata Power Skill Development Institute (TPSDI), leveraging its expertise in power sector skilling.

Dr Praveer Sinha, CEO & Managing Director, Tata Power, said “This partnership with DGPC underscores our collective vision of creating a future-ready talent ecosystem for Bhutan’s growing clean energy sector. Leveraging its strong credentials in power sector training, Tata Power Skill Development Institute (TPSDI) will help nurture industry-ready professionals with comprehensive expertise in safe operations, emerging technologies, and operations & maintenance.”

Tata Power will provide technical expertise, training infrastructure, courseware, and accreditation support through TPSDI for the effective implementation of the programmes. DGPC will facilitate the mobilisation and deployment of trainees, ensuring seamless execution under the MoU and subsequent definitive agreements.

DGPC will also be responsible for securing all necessary approvals from the Government of Bhutan and relevant Bhutanese authorities, while Tata Power will obtain the requisite approvals from the Government of India.

Dasho Chhewang Rinzin, Managing Director, DGPC, said, “This MoU is a practical step towards strengthening local capabilities required under the ongoing partnership to develop 5,000 MW of clean energy capacity. DGPC will work with relevant Bhutanese authorities and stakeholders to identify training needs, mobilise trainees where appropriate, and ensure that the programme supports national priorities and complements the Royal Government of Bhutan’s broader workforce development efforts.”

The proposed skill development initiatives under this MoU will be implemented in a phased manner:

• Phase 1: Focus on immediate deployment of safety training to ensure workforce readiness prior to site entry, including mandatory safety induction programmes for project workers.
• Phase 2: Expansion into technical skill development covering construction, material handling, and earth-moving equipment operations, tailored to project construction requirements.
• Phase 3: Development of specialised capabilities for the long-term operation and maintenance of clean energy assets.

Tata Power Skill Development Institute (TPSDI) was established to bridge the skill gap in the power sector by delivering industry-relevant, modular training and certification programmes. TPSDI is accredited by the National Safety Council of India (NSC) to conduct safety training, administer assessments, and issue joint certifications. As an approved training partner of the National Skill Development Corporation (NSDC) and a Dual Awarding Body recognised by the National Council for Vocational Education and Training (NCVET), TPSDI operates a robust training network across India, offering hands-on training across the power value chain, including thermal, hydel, and renewable energy technologies such as solar, wind, and green hydrogen.

This MoU reflects a collaborative and practical approach to developing the skills required for Bhutan’s clean energy growth, with DGPC working alongside relevant Bhutanese authorities and Tata Power providing technical training support.

GE Aerospace Expands India Footprint with ₹100 Crore Pune Investment

GE Aerospace today announced an investment of INR 100 Crore in its Pune manufacturing facility, further strengthening its manufacturing footprint in India and reinforcing its long-term commitment to the country. The investment will support new welding technologies, advanced inspection equipment, precision tools, gauges, fixtures, and additional infrastructure enhancements designed to increase production capacity, enhance process precision, and support the delivery of high-quality components for customers worldwide.

This latest investment builds on the INR 410 Crore announced over the last two years, bringing GE Aerospace’s total investment in the Pune facility to more than INR 510 Crore over three years. Previous investments were focused on advancing manufacturing processes, automation, and capability enhancements supporting next-generation engine components. The latest upgrades will further expand the facility’s capabilities and support component production across GE Aerospace’s GE90, GEnx, GE9X, and CFM International’s LEAP engine programs.

"This continued investment reflects GE Aerospace’s long-term commitment to India and our confidence in the Pune facility’s role within our global manufacturing network," said Vishwajit Singh, Managing Director, Pune manufacturing facility, GE Aerospace. "Our continued growth is a win for our customers and the broader community, driving more apprenticeship and job opportunities at GE Aerospace and for our supplier partners. Over the past decade, this facility has grown into a high-capability aerospace manufacturing hub, strengthening India's supplier ecosystem and contributing to GE Aerospace's global supply chain.”

GE Aerospace’s Pune manufacturing facility is a key part of the company’s global supply chain, producing critical components for commercial aircraft engines. The facility works with more than 300 suppliers locally across a broader network of over 2,200 GE Aerospace suppliers in India, helping strengthen the country’s role in global aerospace programs through advanced manufacturing expertise and precision engineering capabilities. The facility also plays an important role in workforce development. Its structured two-year apprenticeship program enrolls more than 500 apprentices annually in classroom instruction and specialized TIG welding training through the site’s dedicated Weld School. Since 2015, the facility has trained more than 5,000 production associates, helping build a strong pipeline of aerospace manufacturing talent in India. Recent community and workforce development grants have also supported initiatives focused on technical education and skill development in the region.

Today’s announcement further reinforces GE Aerospace’s broader commitment to India, where the company continues to invest in manufacturing, engineering, and supply chain development to help shape the future of flight.

*CFM International is a 50-50 joint company between GE Aerospace and Safran Aircraft Engines.

About GE Aerospace in India

GE Aerospace has been a partner to India's aviation industry for over 40 years, with more than 1,400 GE Aerospace and partner engines in service nationwide, powering major Indian airlines. GE Aerospace’s defense engines and systems also power the Indian Air Force’s Light Combat Aircraft Tejas Mk1 and helicopters, and the Indian Navy’s aircraft carrier battleships and frigates. The Pune manufacturing facility and 17 Indian suppliers play an important role in the company’s global supply chain. Researchers and engineers at the company’s 25-year-old Technology Centre in Bengaluru are building the latest aviation technologies. Learn more about GE Aerospace in India at geaerospace.com/india

About GE Aerospace

GE Aerospace is a global aerospace propulsion, services, and systems leader with an installed base of approximately 50,000 commercial and 30,000 military aircraft engines. With a global team of approximately 57,000 employees building on more than a century of innovation and learning, GE Aerospace is committed to inventing the future of flight, lifting people up, and bringing them home safely. Learn more about how GE Aerospace and its partners are defining flight for today, tomorrow, and the future at geaerospace.com

MilikiRumah Breaks Barriers With World’s First AI-Powered Credit Intelligence SaaS in PropTech

NEWS HIGHLIGHTS

• MilikiRumah’s AI-powered SaaS stack is currently made up of two components for its B2B2C end-users:
• VERO: Instant credit history verification
• TASYA: AI-powered smart customer profiling tool
• MilikiRumah has recorded exceptional usage traction – delivering financial and operational milestones across Indonesia.

MilikiRumah (“MilikiRumah”, “the Company”), operator of the world’s maiden artificial intelligence (“AI”)-powered software as a service (“SaaS”) credit intelligence and mortgage readiness tool and the first rent-to-own program, today announced the Company has delivered a raft of landmark performance milestones for its revolutionary SaaS solution specifically tailored for business-to-business-to-consumer (“B2B2C”) end-users.

In setting groundbreaking benchmarks in the PropTech space, Winston Lee (“Winston”), co-founder and chief executive officer of MilikiRumah states: “MilikiRumah cements its position as the world’s leading social inclusivity for good PropTech company; backed by our revolutionary technology capability – the likes of which have never been seen before.”

Adds Winston: “With real estate developers (“real estate developers”, “developers”) and their cohort of would-be homebuyers, as our valued B2B2C end-users, recording exponential growth in token usage of our proprietary SaaS solution, MilikiRumah is already demonstrating rapid scalability and clear categorical leadership in the PropTech sector; underpinned by the Company’s proven set of financial and operational results.”

FINANCIAL AND OPERATIONAL MILESTONES

• Real estate developer onboarding: 151 projects across 73 developers
• Sales orders: 48% average month-on-month growth; peak 159% in a single month
• Usage: 117% average monthly growth; peak 362% in a single month
• B2B2C end-user retention: 98% since October 2025
• Big data: 37,509 home-seeker data points collected, doubling from Feb 2026

SOLVING A MULTI-BILLION DOLLAR INEFFICIENCY

Indonesia's property sector faces a structural conversion problem: 50 to 70 per cent of leads fail bank eligibility checks, while manual credit history checking processes take up to 14 days!

Consequently, this legacy system results in significant wasted advertising expenditure, inefficient sales cycles, and foregone real estate developer revenue measured in the billions of rupiah each month. MilikiRumah's integrated B2B2C SaaS solution directly addresses this inefficiency by converting uncertain leads into verified, ready-to-buy homeowners – faster, more accurately, and at scale. MilikiRumah's B2B2C SaaS tool is currently available in Indonesia; with a planned expansion pipeline across the broader East Asia region.

“By combining AI-driven credit intelligence with real-time data integration, we are enabling faster, more accurate decisions, unlocking new opportunities for businesses and aspiring homeowners alike – and establishing a strong commercial baseline from a standing start,” according to Prasma Anindita (“Pras”), MilikiRumah’s director of technology.

"Simultaneously, we have rapidly scaled our proprietary data advantage, doubling our dataset of verified home seeker profiles sourced directly from banks and developers. This continuously strengthens MilikiRumah's AI engine and big data repository, reinforcing our barriers to entry and reflecting a rare product competency and mission-critical adoption among our end-users. Developer satisfaction and deep product adoption remain at their highest levels – and we are only just getting started," comments Pras.

UNLOCKING A MASSIVE UNDERSERVED MARKET

• DBS Bank: 96–97.7 million adults unbanked (~48% of adult population)
• Yusof Ishak Institute: 80% of Indonesia’s 275 million population unbanked/underbanked
• Housing backlog: 15 million units as of April 2025

Beyond B2B2C SaaS monetization, MilikiRumah is uniquely positioned to capture value from Indonesia’s large underbanked population and housing backlog; and the metrics are staggering:

According to Singapore multinational banking and financial services corporation DBS Bank Limited: “Indonesia has one of the world's largest unbanked populations, estimated at roughly 96–97.7 million adults, representing about 48 per cent of the adult population. While financial inclusion is rising, many in rural areas remain underserved, fuelling a rapid shift toward fintech and digital banking to reach these individuals,” – source: https://www.dbs.com/newsroom/Indonesia_Has_the_Fourth_Largest_Unbanked_Population_in_the_World_Heres_How_Bank_DBS_Indonesia_Promotes_Financial_Inclusion

In a far more seismic data point reported by Yusof Ishak Institute, and formerly Institute of Southeast Asian Studies which was established as an autonomous organisation by an Act of Parliament in 1968: “About 80 per cent of Indonesia’s 275 million population are unbanked and underbanked.” – source: https://www.iseas.edu.sg/iseas-perspective/2023-78-the-digital-transformation-of-indonesias-banking-sector-current-trends-and-future-prospects-by-manggi-habir-and-siwage-dharma-negara/ via a presentation by Tigor Siahaan, President Director of Superbank.

See: https://www.iseas.edu.sg/mecevents/digital-trends-altering-indonesias-banking-landscape/

Indonesia’s housing backlog has risen and as reported by Indonesia’s foremost leading English language national daily: “Indonesia's housing backlog has risen to approximately 15 million units as of April 2025, driven by population growth and low ownership rates, particularly affecting low-income workers.” – source: https://www.thejakartapost.com/business/2025/04/23/indonesias-housing-backlog-rises-to-15-million-this-year-deputy-minister.html

A SCALABLE SAAS INFRASTRUCTURE

• AI-generated credit intelligence
• Real-time data integration
• Conversion optimisation
• Continuous feedback loops

MilikiRumah's highly scalable SaaS model is architected around four core capabilities: proprietary AI-generated credit intelligence and mortgage readiness infrastructure, real-time data integration sourced directly from real estate developers and banks, conversion optimisation, and continuous feedback loops that progressively strengthen the platform's predictive accuracy over time.

This infrastructure enables real estate developers and banks to identify mortgage-ready buyers at the point of enquiry – eliminating wasted sales effort on unqualified leads, reducing mortgage rejection rates and unit hold-ups through early eligibility assessment, and accelerating the booking-to-closing cycle with data-driven property and payment scheme recommendations. Developer partners have reported booking uplifts of approximately 50 per cent as a direct result of platform adoption attributed to the exponential spike in homebuyer confidence after being assessed by MilikiRumah’s B2B2C SaaS tool.

360° HOMEBUYER PROFILE

At the core of MilikiRumah's platform is a unified customer intelligence layer that combines transaction data, credit history, behavioural signals, and predictive modelling into a single, actionable 360° homebuyer profile. This integration enables developers to assess each prospective buyer's needs, risk profile, and instalment capacity with a depth and accuracy previously unavailable in all of Indonesia and across the globe.

Powered by AI and machine learning, the platform generates precise estimates of eligibility for mortgage loans of consumers of real estate developers, instalment obligations, repayment capacity, and income range – translating raw data into smart, reliable recommendations for the most suitable residential units, payment schemes and homeownership pathways for each individual buyer. The result is faster sales closing for the developer, higher contract success rates, and materially improved customer experience throughout the sales process.

MILIKIRUMAH’S AI-POWERED B2B2C SAAS STACK

• VERO – INSTANT CREDIT HISTORY VERIFICATION:
• VERO is MilikiRumah's proprietary credit history checking and verification engine, delivering a complete Bank Indonesia ("BI") eligibility assessment in as little as five seconds!
• For developers, the commercial impact is direct and measurable: VERO enables the identification and selection of mortgage-ready buyers from the very first point of contact, materially reducing mortgage rejection rates, minimising stalled unit inventory, and accelerating both the sales process and booking decisions. 
• By filtering out ineligible prospects early, sales teams are freed to focus their time and resources exclusively on qualified buyers – reducing customer acquisition costs and improving overall conversion rates.
• VERO's core capabilities include real-time BI and bank data integration, precise credit risk identification, and faster, more certain closing outcomes – compressing what was previously a multi-day administrative process in a matter of seconds.
• TASYA: AI-powered SMART CUSTOMER PROFILING 
• TASYA is MilikiRumah's proprietary AI sales advisor and predictive profiling engine. 
• MilikiRumah's platform delivers quantifiable improvements across the credit assessment and sales conversion lifecycle. DBR analysis – previously requiring 14 days via traditional channels – is now performed instantly, reducing processing time of more than 90 per cent. 
• Through the instant calculation of a prospective buyer's DBR via direct application programming interface integrating, TASYA delivers comprehensive consumer profiles in real time – drawing on consumer personal statements, income prediction modelling, and data integration across multiple sources to determine instalment capacity with precision.
• For Indonesia’s residential real estate developers and MilikiRumah’s B2B2C end-users, TASYA translates this intelligence into direct commercial outcomes. 
• By recommending payment schemes calibrated to each buyer's instalment ability, TASYA increases the probability of contract approval; and focuses the sales journey on ready- and financially-capable customers, and supports more confident, data-driven decisions at every stage of the sales process.
• Beyond its individual capabilities, TASYA functions as a predictive segmentation tool: matching would-be homebuyers to optimally suitable residential units and financing options offered by Indonesia's retail banks, based on AI-driven analysis of income, instalment capacity, and consumer behaviour.
• "By harnessing the power of VERO and TASYA, B2B2C end-users translate that capability into lower customer acquisition costs, higher inventory turnover, and improved revenue realisation," says Prasma. "With strong early traction, high retention, and accelerating usage, MilikiRumah is building a defensible, data-rich infrastructure – swiftly becoming the go-to trusted tool for property transaction qualification in emerging markets."

REAL ESTATE DEVELOPER TESTIMONIALS

• The presence of MilikiRumah has significantly improved our business processes. MilikiRumah is invaluable for business owners who prioritise speed,” – Angga Budi Kusuma, President Director, Pesona Kahuripan Group.
• “We can directly check all prospects using MilikiRumah. The business process is more streamlined and accelerated, increasing bookings by around 50 per cent,” – Anton Suwandi, President Director, Citanusa Group.
• “Harmony Land Group manages several projects simultaneously. Bogor Green Resort, which has used MilikiRumah, appears more responsive and ultimately closes faster,” – Fithor Muhammad, chief executive officer, Harmony Land Group.
• “Prospective buyers who visit can immediately request a deposit, increasing conversion rates twofold,” – Michael J. Pratama, sales section head, Akasa Pure Living BSD. 

MILIKIRUMAH’S OTHER WORLD-FIRST: RENT-TO-OWN PROGRAM

For consumers who do not currently qualify for a conventional bank mortgage, MilikiRumah’s world-first AI-powered Rent-to-Own programme provides a structured, personalised 12-month pathway to build payment track records, financial literacy, and credit profiles – graduating participants to become bankable, mortgage-ready homeowners. 

• LinkedIn (CEO Winston Lee): https://www.linkedin.com/in/winston-lee-a2107126/
• LinkedIn (Finance Director Lau Xin Yuan): https://www.linkedin.com/in/lauxinyuan/
• Corporate Facebook: https://www.facebook.com/profile.php?id=61574959116140
• Corporate Instagram: https://www.instagram.com/milikirumah_com/
• Corporate LinkedIn: https://www.linkedin.com/company/milikirumah-rightkey-capital-pte-ltd/
• Corporate TikTok: https://www.tiktok.com/@milikirumah_com
• Website: https://www.milikirumah.com/en

LEADERSHIP

• Winston Lee, Co-founder & CEO – Award-winning entrepreneur, former PropertyGuru executive, pioneered AI-powered rent-to-own and credit intelligence SaaS.
• Lau Xin Yuan, Co-founder & Finance Director – Oversees finance, investor acquisition, fundraising; founder of Digiboost Marketing.
• Faizal Abdullah, Chief Commercial Officer – 26+ years leadership, ex-Rumah123 SVP, ex-KOCO Indonesia CEO.
• Prasma Anindita, Technology Director – MSc Computer Science, Utrecht University; seasoned developer, serial entrepreneur.

VIYONA Fintech Completes NPCI-Certified UPI Acquirer, UPI Issuer, IMPS and IBMB Infrastructure Expansion

Team VIYONA Fintech 

Hyderabad based fintech company VIYONA Fintech has secured NPCI certification for its technology and certification framework across multiple critical payment infrastructure layers, including UPI Acquirer, UPI Issuer, IMPS, and Interoperable Banking Mobile Banking (IBMB) integrations.

With this milestone, VIYONA joins a select group of fintech infrastructure players building end-to-end payment orchestration capabilities aligned with National Payments Corporation of India standards.

VIYONA has been steadily expanding its banking and payments infrastructure over the past two years, with integrations across multiple banking institutions for collections, payouts, and payment processing capabilities. The certification is expected to further accelerate its expansion in merchant acquiring, rural banking infrastructure, embedded finance, and interoperable digital banking services.

The completion of both UPI Acquirer and UPI Issuer capabilities gives the company the ability to participate across multiple layers of the UPI ecosystem from merchant acceptance and QR acquiring to customer-side issuance infrastructure.

“The addition of IMPS and IBMB capabilities expands Viyona’s service portfolio across interoperable mobile banking, real-time fund transfers, merchant settlement systems, and rural banking use cases,” said Ravindranath Yarlagadda, Chairman of Viyona Fintech.

He added, “We are preparing the rollout of our merchant acceptance ecosystem under the ViyonaPay initiative, aimed at expanding digital payment acceptance and banking accessibility across underserved and rural markets.”

The company is actively expanding its product and services portfolio with six upcoming offerings across merchant payments, rural acceptance infrastructure, POS ecosystems, and merchant enablement platforms. It is also planning broader fintech infrastructure initiatives spanning connected banking, digital onboarding systems, and interoperable payment routing technologies.

Founded by entrepreneur Ravindranath Yarlagadda, VIYONA has positioned itself as a fintech infrastructure company focused on bridging digital banking and payment access gaps, particularly in semi-urban and rural markets.

As UPI continues to report record transaction growth nationwide, the company continues to expand its footprint across merchant acquiring, banking partnerships, and rural fintech enablement initiatives, linked to its Viyonapay platform as it builds out its broader payments’ infrastructure and ecosystem capabilities.

About VIYONA Fintech

Viyona Infotech is a Hyderabad-based fintech and payment technology company building NPCI-certified digital payment infrastructure for banks, enterprises, institutions, and consumers across India. Founded in 2022. The company powers enterprise-grade solutions across UPI, IMPS, eKYC, eNACH, and digital banking ecosystems.

Its flagship ViyonaPay platform onboarded 100+ partners, launched CampusPro, an education ERP platform serving 1,000+ institutions, and Graampay, a rural marketplace connecting 5,000+ sellers. With over 500 million transactions processed and 200+ partners nationwide, Viyona continues to scale technology-led financial access across urban and rural India.

Know more - https://www.viyonafintech.com/

Fintech CoE at NSRCEL, IIM Bangalore Selects 10 Fintech Startups for Grants in partnership with HDFC Bank Parivartan

NSRCEL at Indian Institute of Management Bangalore (IIM Bangalore), through its Fintech Centre of Excellence (CoE) supported by the Government of Karnataka, has partnered with HDFC Bank Parivartan, the CSR arm of HDFC Bank, to support startups creating measurable financial impact in India.

The initiative supports early- and growth-stage fintech ventures building solutions across lending, payments, insurance, wealthtech, regtech, embedded finance, and allied domains. The collaboration combines grant support with strategic ecosystem access to help startups strengthen business fundamentals, improve market readiness, and expand access to formal financial services for underserved segments.

Startups were selected through an open call curated by NSRCEL, followed by a joint evaluation process conducted by NSRCEL and HDFC Bank. A total of 17 startups presented their innovations during the Demo Day, after which 10 startups were selected to receive grant support under the HDFC Bank Parivartan Program.

The startups selected for the grants include:

1. Entitled
2. Dhiway
3. Finsall
4. PropLegit
5. Lark Finserv
6. INKA
7. ValuEnable
8. GreenFi
9. Xaults
10. Saventh

“Fintech has the power to meaningfully expand financial access and resilience in India-but only when innovation is grounded in real, measurable outcomes. Through this partnership with HDFC Bank, NSRCEL’s Fintech Centre of Excellence is deploying CSR capital to help emerging fintech startups move beyond pilots to market adoption. Our focus is on enabling founders to build market-ready, compliant, and scalable solutions that address critical gaps across India’s financial landscape,” said Anand Sri Ganesh.

Beyond grant support, participating ventures will receive outcome-driven engagement tailored to their growth challenges. Founders will have access to on-demand expert support, closed-door interactions with regulators and industry leaders, conversations with successful founders, and curated introductions to investors and ecosystem partners. Each intervention will be aligned to measurable business outcomes, with regular check-ins to track progress and ensure continued relevance.

The Fintech Centre of Excellence at NSRCEL is designed to scale beyond a single cohort, with the vision of becoming a leading hub for fintech startups building in India and scaling globally. The CoE is deepening its focus across areas including MSME financing, CBDCs, embedded finance, wealthtech, and AI in finance.

Through initiatives such as the Fintech Clinic, the CoE continues to bring together startups, regulators, BFSI institutions, and technology players to address emerging opportunities and challenges in financial innovation.

By supporting high-potential fintech ventures, the initiative aims to strengthen India’s innovation pipeline and help promising companies transition from experimentation to long-term growth, contributing to broader financial inclusion and economic value creation.