The Virk brothers earned their engineering degrees at one of India’s premier engineering institutes – Punjab Engineering College – before pursuing their MBAs in the United States. Sarvjeet specialised in business management and marketing, while Tajinder focused on finance. Both brothers embarked on impressive careers right out of college, with Sarvjeet starting his first business at the age of 25 and Tajinder becoming the Vice President of Global Equity Trading at Fortis (NYSE:FTS) Bank at the same young age.

In 2009, the brothers founded Finvasia as a Foreign Institutional Investor (FII) in India. Setting out as money managers for prominent hedge funds and institutional investors, they were struck by the flaws of the financial industry in India.

Aiming to democratise the retail trading sector and provide greater accessibility to financial services and tailored products cost-effectively, the Virk brothers decided to challenge the status quo and lay the groundwork for zero-cost brokerage services. The growth they witnessed over a relatively short period of time was so remarkable that they agreed to pursue a multidimensional path. This led to the creation of the cross-industry conglomerate that Finvasia is today.

From thought to action there is only one step

Spanning several countries and industries, including technology, healthcare, and real estate, Finvasia marks a new era of engineering-driven, conflict-free and ethical businesses that shape the industry they operate in. Embarking on a multidisciplinary journey, Sarvjeet and Tajinder Virk worked towards creating an umbrella group servicing multiple verticals.

Finvasia’s diverse portfolio of brands creates an accessible, cost-effective, and integrated ecosystem that challenges industry norms and devises innovative solutions to real-world problems. Key brands within the Finvasia ecosystem include Shoonya, India’s first “Zero Cost” financial ecosystem; ZuluTrade, the world’s largest broker-agnostic social trading platform; Fxview, a globally recognised forex and OTC broker; and ActTrader, a leading fintech platform providing traders with access to a range of financial instruments.

The multidisciplinary group, along with its subsidiaries, has served a client base exceeding 5 million individuals across 190 countries, and has hosted several millions of accounts transacting trillions of dollars worth of transaction value.

The company employs over 450 employees across its offices in Australia, Japan, India, Mauritius, Cyprus, Greece, UK, South Africa, Canada, and the USA. What’s more interesting is that the Group has been EBIT positive all these years, showcasing its strong financial foundation and sustainable growth.

In 2023, Finvasia obtained an investment banking license and plans to launch a Global EMI and a neo-bank in India soon. This expansion demonstrates the company’s commitment to offering innovative financial solutions to its growing customer base.

Beyond the realm of finance, the company operates an innovative diabetes reversal medical facility that combines medical science and technology to create patient-centric treatment plans to put an end to this debilitating disease.

Also, in collaboration with a premier Indian institute, Finvasia is also developing Bodyloop, a groundbreaking project focusing on ‘in-body’ microsensors for personal health monitoring. Additionally, the group has invested in a food research entity that aims to address medical problems through food-based solutions, including a patent-pending natural food extract to provide relief for skin-related fungal infections.

The inspiring journey of the Virk brothers, who transformed Finvasia into a global enterprise, demonstrates the power of vision, innovation, and tenacity. Their unwavering dedication to creating ethical, sustainable products that benefit stakeholders has set new benchmarks for excellence, paving the way for a brighter, more inclusive future.

As Finvasia continues to grow and evolve, the bold leadership of Sarvjeet and Tajinder Virk remains at the core of the company’s success, forever changing the landscape of finance, healthcare, and technology. Their compelling story serves as an inspiration to entrepreneurs and visionaries worldwide, and with their continued innovation and dedication to excellence, Finvasia is set to make an even greater impact in the years to come.

© Reuters.

Investing.com — Most Asian currencies retreated on Tuesday as disappointing Chinese economic data posited a weak outlook for the region’s largest economy, while hawkish comments from Federal Reserve officials also brewed uncertainty over the path of U.S. interest rates.

fell 0.1% and traded near a two-month low after data showed and grew less than expected in April. The readings, which come on the heels of several weak economic indicators earlier this month, point to a staggered recovery in Asia’s largest economy, even after the country relaxed most anti-COVID measures earlier this year.

The weak data also saw markets positioning for a potential 25 basis point rate cut by the People’s Bank next month, which is likely to fuel further weakness in the yuan. The currency was trading just shy of the psychologically important 7 level against the dollar.

Weakness in China spilled over into other Asian currency markets, particularly those with a high trade exposure to the country. The fell 0.1%, while the led losses across Southeast Asia with a 0.3% dip, as traders also locked in recent profits in the currency.

The fell 0.1%, also coming under pressure from a sharp drop in in the face of rising interest rates and worsening economic conditions.

Sentiment towards risk-driven assets was also rattled by a slew of Federal Reserve officials warning that the bank could still act further to bring down stubborn inflation. said in separate addresses that interest rates were likely to stay higher for longer, with some officials also raising the possibility of more interest rate hikes.

The and steadied near a one-month high on Tuesday, after logging small losses in the prior session. But the greenback still strengthened against the by about 0.1%.

The dollar moved little this week as markets hunkered down in anticipation of more U.S. economic signals this week, starting with and due later in the day.

Several more Fed speakers are also lined up for the week, most notably on Friday.

show that markets are still positioning for a pause in the Fed’s rate hike cycle in June. But traders are also factoring in a small chance of a 25 basis point hike.

The prospect of U.S. rates remaining higher for longer bodes poorly for Asian currencies, as the gap between risky and low-risk yields narrows.

NEW YORK/LONDON (Reuters) -The dollar fell on Friday as further declines in the shares of Credit Suisse and First Republic Bank (NYSE:) rattled markets fearful of contagion and increased concerns that a recession lies ahead because of the impact of tighter monetary policy.

An early recovery in European stocks ran out of steam as investor sentiment remained fragile after a week of turbulence following the failure of Silicon Valley Bank on March 10.

U.S. banks have sought a record $153 billion in emergency liquidity from the Federal Reserve in recent days, while the $54 billion loan for Credit Suisse and $30 billion lifeline for First Republic failed to halt their stock declines. Credit Suisse fell 8% in Europe and First Republic tumbled 30%.

The , a measure of the dollar against six other currencies, slid 0.604% as traders waited for the Fed’s two-day policy meeting that is expected to end with a one-quarter percentage point hike in interest rates on March 22.

Contracts for fed funds futures show a 61.3% probability that the Fed will raise rates by 25 basis points, according to CME’s FedWatch Tool. Futures also show the Fed will have cut rates by July in a sign recession fears are mounting as the U.S. central bank tightens monetary policy to fight high inflation.

Whether the banking turmoil of the past week leads to an immediate recession is hard to say, said Mazen Issa, senior FX strategist at TD Securities in New York.

“It probably increases the probability that you do have a recession and perhaps it increases the probability that you may have a hard-landing scenario, a more severe recession dynamic,” he said.

“Once you have one regional bank go down, households question whether or not the regional banks are in trouble, that’s a natural human emotion to feel,” he said.

Banking troubles revived memories of the 2008 financial crisis, when dozens of institutions failed or were bailed out with billions of dollars of government and central bank money.

Three smaller U.S. lenders, including First Republic, have had regulators and other banks step in to prop them up, while in Europe, Credit Suisse became the first major global bank since the financial crisis to get an emergency lifeline.

“There is a wait and see approach as to what will happen with the U.S. economy,” said Ed Moya, senior market analyst at OANDA in New York. “Now we’re not debating a‘soft landing, no landing.’ We’re debating is it a mild or severe recession?”

The euro rose 0.66% to $1.0675.

The rescue of First Republic on Thursday initially boosted risk appetite on Friday as concerns about global banks eased, making way for surges in the Australian and New Zealand dollars.

Sterling last traded at $1.2192, up 0.70%, while the dollar fell 0.39% against the Swiss franc. Earlier this week, the franc plunged the most against the dollar in one day since 2015, when the Swiss central bank loosened its currency peg.

The Japanese yen, which tends to benefit in times of extreme market volatility or stress, strengthened 1.48% versus the greenback to 131.77 per dollar.

Japan’s Ministry of Finance, Financial Services Agency and Bank of Japan officials met on Friday evening to discuss financial markets.

Masato Kanda, vice finance minister for international affairs, told reporters after the trilateral meeting that the government, the central bank and the banking watchdog would coordinate to ensure the stability of the financial system.

The Australian dollar, which often outperforms when investors are feeling optimistic, rose 0.81% to $0.671.

Currency bid prices at 3:09 p.m. (1909 GMT)

Description RIC Last U.S. Close Pct Change YTD Pct Change High Bid Low Bid

Previous

Session

Dollar index 103.7400 104.3900 -0.60% 0.242% +104.4400 +103.6800

Euro/Dollar $1.0677 $1.0611 +0.62% -0.36% +$1.0686 +$1.0611

Dollar/Yen 131.7650 133.7800 -1.49% +0.51% +133.7350 +131.5550

Euro/Yen 140.68 141.91 -0.87% +0.27% +142.2000 +140.1700

Dollar/Swiss 0.9255 0.9293 -0.38% +0.12% +0.9299 +0.9241

Sterling/Dollar $1.2194 $1.2110 +0.69% +0.82% +$1.2200 +$1.2103

Dollar/Canadian 1.3721 1.3722 +0.00% +1.28% +1.3773 +1.3679

Aussie/Dollar $0.6708 $0.6658 +0.79% -1.56% +$0.6724 +$0.6650

Euro/Swiss 0.9883 0.9859 +0.24% -0.12% +0.9911 +0.9841

Euro/Sterling 0.8754 0.8760 -0.07% -1.02% +0.8782 +0.8745

NZ Dollar/Dollar $0.6271 $0.6196 +1.20% -1.24% +$0.6277 +$0.6192

Dollar/Norway 10.6960 10.7700 -0.68% +9.00% +10.7660 +10.6700

Euro/Norway 11.4219 11.4211 +0.01% +8.84% +11.4412 +11.3507

Dollar/Sweden 10.4853 10.5049 +0.29% +0.74% +10.5515 +10.4430

Euro/Sweden 11.1910 11.1582 +0.29% +0.42% +11.2054 +11.1239