MAM
Visa grants $10,000 to women-led businesses in She’s Next Program
Mumbai: Visa, the global leader in digital payments, today announced the grant recipients of the She’s Next Grant Program in India. She’s Next is a global advocacy program by Visa that aims to empower women-led small businesses across segments, with insights and tools such as networking, mentoring, and funding opportunities. Visa has awarded a grant of US$10,000 to each of the three winning businesses owned and led by women. It also partnered with Razorpay Rize, an exclusive community for founders, to provide all grant recipients with complimentary access to the invite-only Razorpay Rize incubator program, including a range of benefits like mentorship, assistance with incorporation and fundraising, and networking opportunities with fellow founders.
The program received over 700 applications spanning across sectors, including agriculture, specialised education for children, elderly care, homestays, law, literature, travel, handicrafts, and support for local artisans, reflecting the diversity of women-led entrepreneurship in India. The recipients of this year’s She’s Next grants program are:
1. Suchita Bhandari, Urvara Krsi, Gurugram, Haryana
2. Nidhi Chawla, Silver Talkies (Active Age India Pvt. Ltd.), Bangalore
3. Elizabeth Thomas, Phonologix Health Solutions Pvt. Ltd, Kerala
Visa group country manager, India and South Asia Sandeep Ghosh said, “Visa is committed to fostering financial and social inclusion by investing in small enterprises, which are pivotal to economic growth. Women-led businesses like Urvara Krsi, Silver Talkies and Phonologix, enthuse us with their profound community impact, and we are honoured to extend this grant to these very inspiring women entrepreneurs. The She’s Next Grant Program in India is a key initiative for Visa in its ongoing focus on galvanizing female entrepreneurship and promoting inclusion across the country.”
The recipients were chosen through a meticulous review process, including their background stories, societal challenges they aim to address and the potential for future growth in their respective business models. Each of the three grant recipients, chosen from a pool of over 700 applicants, presented a compelling vision for how Visa’s grant would contribute to the expansion and advancement of their businesses and empower more women. They also outlined plans for supporting local communities and the broader Indian economy through their businesses.
Visa continues empowering small and medium businesses through opportunities like the She’s Next Grant Program providing women-led businesses with the vital tools, resources, and financial support that enable them to thrive. Concurrently, Razorpay Rize, an embodiment of entrepreneurial support, offers a comprehensive program that addresses the challenges faced by founders during the early stages of business growth. With a focus on mentorship, incorporation, and fundraising activities, Razorpay Rize seeks to build a community of like-minded founders in India’s thriving startup ecosystem, demonstrating the company’s dedication to empowering entrepreneurs and contributing to the growth of the startup community. Visa’s She’s Next Program aligns with Razorpay’s mission of investing in the country’s talent pool and fostering innovation.
In recent years, Visa has undertaken such initiatives for women-led businesses across India. In 2020, its grants program in partnership with global partner IFundWomen facilitated women entrepreneurs with access to funding and mentorship opportunities. In 2021, Visa collaborated with the NASSCOM Foundation to enhance digital and financial literacy among over 650 women micro-entrepreneurs in rural areas. Most recently, Visa committed US$ one million to United Way Mumbai (UWM) to uplift women-owned and women-focused businesses across more than 240 villages in four states. The program has already provided financial literacy education and financial linkages to over 8,500 women.
Globally, Visa has invested over US$3.83 million in over 380 grants and coaching for women small and medium business owners through the She’s Next Grants Program since 2020. By equipping women micro-entrepreneurs with vital skills and facilitating access to relevant financial resources, Visa aims to empower both individual enterprises and the communities they serve.
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI: Jubilant FoodWorks Limited has landed in a tax tussle after receiving a GST demand of Rs 47.5 crore from the office of the additional commissioner of CGST and central excise in Thane, Maharashtra.
The order, issued under the provisions of the Central Goods and Services Tax Act, 2017, relates to an alleged incorrect classification of certain services under the category of restaurant services. According to the tax authorities, this classification resulted in a short payment of goods and services tax for the period between the financial years 2019-20 and 2021-22.
The demand includes Rs 47.5 crore in GST along with an equal amount as penalty, in addition to applicable interest. The order was received by the company on March 13, 2026.
In a regulatory filing to the BSE Limited and the National Stock Exchange of India Limited, the company said it disagrees with the order and believes its arguments were not adequately considered.
The company is preparing to challenge the decision and plans to file an appeal. It added that once the redressal process is complete, the demand is likely to be dropped.
Despite the sizeable figure attached to the notice, the company said it does not expect any material impact on its financials, operations or other activities.
The disclosure was signed by Suman Hegde, EVP and chief financial officer, who confirmed that the company received the order at 19:06 IST on March 13 and has already initiated steps to contest it.
The development places the quick service restaurant major in the middle of a tax debate that could hinge on how certain restaurant-linked services are classified under GST rules. For now, the company appears ready to take the matter from the tax office to the appeals desk.
