Startup And Fundraising 31 October 2026
India Launches Banking Reform Committee as Startup Funding Soars
India's government has formed a high‑level banking reform committee headed by Suresh N. Patel to overhaul the sector over the next six months, aiming to strengthen the financial architecture by 2047. Meanwhile, early‑stage startups secured $72.25 million in 24 deals this week, led by health‑tech firm Cent's $15 million Series A, and SEBI has relaxed KYC norms for foreign portfolio investors, extending review periods to boost market participation.
Banking reform push
- Finance Minister Nirmala Sitharaman announced a five‑member panel chaired by Suresh N. Patel to review India’s banking framework and propose changes within six months. The goal is a stronger financial architecture by 2047. (Fortune India)
Startup funding surge
- Early‑stage companies raised $72.25 million across 24 deals this week. Health‑tech startup Cent led the pack with a $15 million Series A round. (Entrackr)
SEBI eases FPI KYC
- The securities regulator relaxed KYC compliance norms for foreign portfolio investors and extended review periods, aiming to attract more foreign capital. (The Hawk)
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