SAVE Microfinance Receives ₹70 Crore in Funding in FY 2026–27, Including ₹55 Crore under CGSMFI-2.0

SAVE Microfinance Private Limited, a microfinance institution focused on advancing responsible and inclusive finance across India, has received ₹70 crore in total funding during the current financial year (FY 2026–27).

Of the total funding, ₹55 crore has been received under the Credit Guarantee Scheme for Microfinance Institutions (CGSMFI-2.0), comprising ₹25 crore from Indian Overseas Bank (IOB) received in June 2026 and ₹30 crore from State Bank of India (SBI) received in August 2026.

The company has also received ₹15 crore through other institutional funding facilities, including funding from Northern Arc Capital, further strengthening and diversifying its institutional funding base.

The latest funding milestone reinforces the continued confidence of leading banks and financial institutions in SAVE Microfinance’s business model, portfolio quality, governance standards and disciplined approach to sustainable growth.

The funds will support the company’s lending operations, strengthen its ability to meet the growing demand for responsible credit, and expand access to formal financial services across underserved and semi-urban and rural markets.

Strengthening Institutional Confidence

Commenting on the funding milestone, Mr. Pintu Kumar Singh, Chief Financial Officer, SAVE Microfinance Pvt. Ltd., said: "The receipt of ₹70 crore in funding during the current financial year, including ₹55 crore under CGSMFI-2.0, is a significant milestone for SAVE Microfinance. We are grateful to our banking and financial institution partners for their continued confidence in our financial discipline, portfolio quality and governance framework. The additional funding will strengthen our lending capacity while enabling us to maintain a balanced approach to growth, risk management and responsible finance.”

He added: “As we continue to explore additional institutional funding opportunities, our focus remains on building a diversified funding base and ensuring sustainable access to credit for underserved households and micro-entrepreneurs.”

Supporting Responsible and Inclusive Growth

Commenting on the milestone, Mr. Ajeet Kumar Singh, Managing Director & Co-founder, SAVE Solutions Private Limited (SAVE Group), said: "At SAVE, we view financial inclusion as an important enabler of sustainable social and economic progress. The continued support from leading financial institutions is a strong endorsement of our approach to responsible finance, disciplined growth and institutional governance. The ₹70 crore funding received during FY 2026–27 will further strengthen our ability to serve underserved communities and support livelihoods through timely and responsible access to credit.”

He further added: “The ₹55 crore received under CGSMFI-2.0 is particularly significant as we continue to deepen our institutional partnerships and diversify our funding sources. With further opportunities in the pipeline, we remain committed to strengthening our financial capabilities and expanding the reach of inclusive financial services across India.”

Diversifying the Funding Base

SAVE Microfinance continues to engage with banks, financial institutions and development-focused lenders to build a well-diversified and sustainable funding base.

The company remains focused on responsible credit delivery, technology-enabled operations, prudent risk management and sustainable portfolio growth, with the objective of expanding access to formal finance for low-income households, women borrowers and micro-entrepreneurs across its operating geographies.

The company will continue to leverage institutional partnerships and initiatives such as CGSMFI-2.0 to strengthen its financial capacity and support the evolving credit needs of underserved communities.

About SAVE Microfinance Private Limited

SAVE Microfinance Private Limited is part of SAVE Solutions Private Limited (SAVE Group) and is focused on expanding access to responsible and inclusive financial services for underserved communities. The company works towards enabling access to formal credit while maintaining a strong focus on responsible lending, disciplined growth, prudent risk management and sustainable impact.

Palo Alto Networks Launches Frontier AI Critical Defense Program to Shield Infrastructure at AI Speed

A collaboration of leading technology providers to protect critical infrastructure against the rapid rise of AI-discovered vulnerabilities

Palo Alto Networks (NASDAQ: PANW) today announced the Frontier AI Critical Defense Program, a first-of-its-kind initiative to protect critical infrastructure from AI-driven exploits. Through the program, leaders across operational technology (OT), healthcare, commercial software and open-source communities coordinate with Palo Alto Networks to deploy proactive "virtual patches,” neutralizing vulnerabilities at the network-level before attackers can exploit them.

Palo Alto Networks recently used Frontier AI models to uncover more than 14,000 previously unknown vulnerabilities in open source software, underscoring how AI could enable threat actors to automate cyberattacks and shrink attack timelines. Yet, critical infrastructure operators, constrained by strict uptime and safety testing, cannot patch at AI speed. This mismatch creates a significant exposure gap, leaving essential systems vulnerable long before software fixes can be safely deployed.

​​True defense at AI speed requires joint action. This program builds on our existing collaborations with IBM and Red Hat (as part of Lightwell), Microsoft (as part of MAPP) and OT leaders like Siemens and the Idaho National Laboratory (as part of the OT Threat Research Lab).

Today, the collaboration is expanding to include Anthropic, OpenAI, OT leaders like Mitsubishi and Axis Communications, industry consortiums for sharing risk information like Analysis and Resilience Center for Systemic Risk and Health-ISAC, OT research organizations like the independent, non-profit Energy R&D Institute (EPRI) and OSS initiatives like Akrites (an initiative from the Linux Foundation).

Palo Alto Networks Frontier Virtual Patching puts these insights into action to deliver proactive protection for joint customers. By combining Frontier AI threat discovery with trusted vulnerability intelligence, it delivers rapid network-level patches while safeguarding sensitive vulnerability details from attackers.

Lee Klarich, Chief Product Officer, Palo Alto Networks, “In the age of Frontier AI, the traditional, reactive race to build and deploy software patches before adversaries exploit a flaw is a losing battle. Protecting critical infrastructure requires a structural shift from isolated patching to collective, proactive intelligence. Through initiatives like our Frontier AI Critical Defense Program, we can neutralize threats at the network layer before they are weaponized.”

Help safeguard critical infrastructure by joining the expanding Frontier AI Critical Defense Program, today. Visit the website to learn more on how to get involved, or explore Palo Alto Networks broader Frontier AI Defense Initiative.

Palo Alto Networks (NASDAQ: PANW), the global AI cybersecurity leader, protects our digital way of life with a comprehensive portfolio of cybersecurity solutions and platforms across Network, Cloud, Security Operations, AI and Identity. Trusted by 70,000+ customers and powered by Unit 42 threat intelligence, our AI-driven platforms eliminate complexity, empowering enterprises to modernize with confidence and securing the speed of innovation. Explore the future of security at www.paloaltonetworks.com.

Forward-Looking Statements

This release contains forward-looking statements with respect to Palo Alto Networks that involve risks, uncertainties and assumptions, including, without limitation, statements regarding the benefits, impact, or performance or potential benefits, impact or performance of Palo Alto Networks products, technologies, and integrations or future products, technologies, and integrations. These forward-looking statements are not guarantees of future performance, and there are a significant number of factors that could cause actual results to differ materially from statements made in this release. Palo Alto Networks identifies certain important risks and uncertainties that could affect its results and performance in its most recent Annual Report on Form 10-K, its most recent Quarterly Report on Form 10-Q, and its other filings with the Securities and Exchange Commission from time-to-time, each of which are available on Palo Alto Networks' website at investors.paloaltonetworks.com and on the SEC's website at www.sec.gov. All forward-looking statements in this release regarding Palo Alto Networks are based on information available to Palo Alto Networks as of the date hereof, and Palo Alto Networks does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

Tata Power and IIT Bombay collaborate to accelerate innovation in clean energy and advanced power technologies

Tata Power, one of India's largest integrated power companies, and the Indian Institute of Technology Bombay (IIT Bombay), one of the country's premier institutions for science, engineering and technology research, signed a Master Research Agreement (MRA) marking the beginning of a long-term strategic partnership for accelerating scaling up and commercialization of lab scale innovations in next generation energy technologies and advanced clean energy solutions.

The agreement was signed at the IIT Bombay campus by Dr. Praveer Sinha, Chief Executive Officer & Managing Director, Tata Power, and Prof. Shrikrishna V. Kulkarni, Dean (Research & Development), IIT Bombay, in the presence of Prof. Shireesh Kedare, Director, IIT Bombay.

This collaboration brings together IIT Bombay's research excellence and Tata Power's industry expertise to jointly develop impactful solutions across areas such as smart grids, power electronics, energy storage, electric mobility, cybersecurity, AI for power systems, digital grid technologies, carbon capture, and circular economy. The partnership aims to accelerate the translation of cutting-edge research into scalable, industry-ready technologies that contribute to India's clean energy transition, energy security, and sustainable development.

Dr. Praveer Sinha, Chief Executive Officer & Managing Director, Tata Power, said “We are proud to partner with IIT Bombay to harness innovation and technology for the next generation of India’s power sector. By combining IIT Bombay’s cutting-edge research with Tata Power’s experience in deploying solutions at scale, we aim to accelerate the development of future-ready energy technologies. This partnership will contribute to a more resilient, secure, intelligent, and sustainable power ecosystem for India.”

Prof. Shireesh Kedare, Director, IIT Bombay, said: “India’s energy transition requires not only advances in scientific research, but also the ability to translate those advances into reliable, scalable, and relevant technologies. This collaboration with Tata Power aligns strongly with IIT Bombay’s mission to translate advanced laboratory research into deployable industry solutions. By combining IIT Bombay’s research and innovation capabilities with Tata Power’s industry experience and large-scale deployment expertise, we aim to accelerate the development of indigenous technologies that can strengthen India’s energy security, accelerate decarbonization and contribute to a future-ready resilient power grid.”

The collaboration reflects the Government of India's emphasis on industry-academia partnerships to accelerate research, innovation and commercialization of technologies critical to the country's energy transition.

Saatvik Solar Signs an MoU with the Odisha Govt to Establish a 3.6 GW Solar Cell Manufacturing Facility at Gopalpur, Ganjam

Cell & Module Manufacturing Plant Odisha, SGEL

Saatvik Solar Industries Private Limited has signed a Memorandum of Understanding (MoU) with the Industrial Promotion and Investment Corporation of Odisha Limited (IPICOL), Government of Odisha, for setting up a 3.6 GW Solar Cell Manufacturing Facility at Gopalpur in Ganjam district, Odisha.

The proposed facility marks an important step in Saatvik Solar’s plans to further expand its manufacturing capabilities in Odisha and contribute to the development of the state’s renewable energy manufacturing ecosystem. The project is also expected to create employment opportunities and support the development of the wider industrial ecosystem in the region.

The new facility will form part of Saatvik Solar’s broader manufacturing development at Gopalpur, where the company is already progressing with its Phase I integrated manufacturing facility. Phase I has achieved key construction and installation milestones and is now advancing towards commissioning. Tool installation is progressing well, with ramp-up set to commence shortly marking a significant step towards operational readiness.

Gopalpur Manufacturing Development Progresses Towards Commissioning

Saatvik Solar’s Phase I manufacturing facility at Gopalpur has made substantial progress, with major construction and infrastructure works completed and equipment installation and testing activities advancing across the facility.

Cell & Module Manufacturing Plant Odisha, SGEL

The company has also completed key power infrastructure milestones, with the dedicated 220 kV substation ready for charging. Manufacturing lines are progressing through the final stages of installation, testing, validation and process readiness, with the company moving towards the next stage of operations.

The cell line is on track for ramp-up shortly, marking a key step towards operational readiness, with the ALMM-II inspection planned for September—bringing the facility closer to full-scale commercialisation.

Commenting on the milestone, Mr. Prashant Mathur, CEO, Saatvik Green Energy Limited said, “Odisha is more than a manufacturing milestone for Saatvik; it is a statement of our ambition. As our 2.4 GW cell and 4 GW module manufacturing lines move towards production, we are taking a decisive step towards building scale, strengthening integration and creating the foundation for our next phase of robust growth. India’s clean energy opportunity is enormous, and we intend to play a defining role in it. Our ambition is to build manufacturing capabilities that are globally competitive, technologically advanced and deeply aligned with India’s journey towards energy security and self-reliance. Building on the momentum of Phase I, we are advancing plans for a further 3.6 GW Phase II expansion at Gopalpur, which will significantly scale our integrated manufacturing footprint and strengthen our ability to meet the growing demand for domestically manufactured solar products. With Phase II targeted for commercial production by FY28, we are preparing for the next leap in scale. The future we see is one where India is not only a major consumer of clean energy, but a global manufacturing powerhouse for it. Saatvik is determined to help build that future by investing in capacity, technology and excellence today and creating a stronger, more resilient and more sustainable energy ecosystem for tomorrow.”

Alongside the progress of Phase I, Saatvik Solar is advancing plans for the next phase of development at Gopalpur, which will further scale its integrated manufacturing capabilities. The Phase II 3.6 GW cell capacity expansion is being planned to support the growing demand for domestically manufactured solar products and deepen the company’s presence across the solar value chain.

The company’s phased development at Gopalpur reflects its long-term approach towards building an integrated and technologically advanced solar manufacturing ecosystem, with a focus on scale, operational excellence, quality and supply chain resilience.

Wipro Acquires Majority Stake in Dermatouch; Enters Digital-First Skincare Market

Wipro Consumer Care & Lighting has acquired a 60% stake in Ahmedabad-based skincare brand Dermatouch for ₹387.5 crore, marking its entry into India’s fast-growing digital-first premium skincare segment. The remaining 40% stake will be acquired over the next three years, with founders Anish Nagpal and Amit Purswani continuing to lead operations.

Key Highlights of the Deal

• Transaction Value: ₹387.5 crore (enterprise value)
• Stake Acquired: 60% now; remaining 40% over three years
• Founders Retained: Anish Nagpal & Amit Purswani will continue to run Dermatouch
• Revenue Impact: Dermatouch reported ₹131 crore in FY26, up 114% YoY
• Strategic Fit: Wipro’s first acquisition of a digital-first brand
• Expansion Strategy: Dermatouch’s proven ability to scale offline was a key factor

Dermatouch Brand Snapshot

• Founded: By Anish Nagpal & Amit Purswani in Ahmedabad
• Focus: Science-backed skincare addressing pigmentation, acne, brightening, sun protection
• Products: Face washes, serums, soaps, creams, moisturisers, sunscreens, hair sprays, body cleansers
• Sales Growth: From ~60,000 products/month two years ago to 60,000+ products/day in 2026
• Distribution: D2C platform, online marketplaces, expanding offline retail presence

Strategic Rationale for Wipro

• Digital-First Expansion: Entry into India’s booming online skincare market
• Portfolio Diversification: Adds to Wipro’s global skincare brands like Derma Lab, Dr. Dermis, Bio-essence
• Consumer Trust: Dermatouch has strong credibility with clinically proven formulations
• Growth Potential: Wipro aims to leverage distribution and R&D to scale globally

Risks & Considerations

• Integration Challenges: Smooth collaboration between founders and Wipro
• Performance-Linked Acquisition: Final 40% stake price depends on growth trajectory
• Competitive Landscape: Rivals like HUL, Nykaa, Mamaearth expanding aggressively
• Consumer Trends: Success hinges on maintaining science-backed credibility

Comparative Snapshot

Aspect	Dermatouch Acquisition	Recent Wipro Deals
Value	₹387.5 crore	Good Home & Eva (₹256 crore)
Segment	Premium skincare (digital-first)	Home care & personal care
Revenue FY26	₹131 crore (+114% YoY)	Not disclosed
Strategic Aim	Entry into digital-first brands	Expansion in FMCG categories