India's economic engine is revving up, but navigating the global headwinds requires sharp strategy. The rupee's recent volatility against the dollar underscores the complexities facing Indian businesses, impacting everything from import-export trade to domestic inflation. This week alone, we've seen significant shifts in the IT sector, with major players announcing restructuring and a renewed focus on AI-driven solutions. Meanwhile, the burgeoning startup ecosystem continues to attract substantial funding, despite a cautious global investor sentiment. The government's recent policy announcements on infrastructure development and digitalization are poised to further shape the business landscape, creating both opportunities and challenges for entrepreneurs and established corporations alike. Understanding these market dynamics is crucial for success in today's rapidly evolving Indian economy. Stay informed with Abtak.com for the latest insights and analysis on key sectors including finance, manufacturing, and technology – empowering your business decisions in a dynamic market. Explore the complete business news section now to stay ahead of the curve.
Mumbai: Sebi on Monday proposed to allow asset management companies (AMCs) to offer services to pooled non-broad based funds such as family offices. At present, Sebi rules bar AMCs from providing management and advisory services to non- broad based funds, unless they mandatorily obtain a portfolio management services(PMS) licence to do the same. AMCs are currently permitted to provide management and advisory services to pooled assets which are broad based in nature. These restrictions were imposed by Sebi in 2011 to prevent conflict of interest which may arise due to differential fee structure for mutual fund as a product vis-a-vis other products. The regulator proposed that AMCs would be required to ensure that the resources dedicated to pooled non-broad based funds should be proportionate to the fee earned by AMC from such funds compared to fees from investors in mutual fund schemes and that mutual fund investors are not made to bear the cost of servicing mandates for pooled non-broad based funds. "While there is potential conflict of interest if an AMC charges a higher fee from pooled nonbroad based client for providing preferential services (as this may incentivise the AMC to divert resources away from broad based funds), offering discounted fees to pooled nonbroad based clients by cross subsidisng the cost through mutual fund schemes also results in mutual fund investors bearing a disproportionate share of expenses," Sebi said in a discussion paper.
MUMBAI (Reuters) -Billionaire Mukesh Ambani-led Reliance Group and U.S.-based BlackRock have received approval from India's markets regulator to start operations for their mutual fund business, the Indian company said on Tuesday. Jio Financial Services, a part of the Reliance Group, had in July 2023 announced the formation of a 50:50 joint venture with the world's largest asset manager to launch asset management services in India. The JV, Jio BlackRock Asset Management, plans to launch a range of investment products in the coming months based on a "digital first" approach for retail and inst ...Read More >
Ranchi (Jharkhand) [India], August 4 (ANI): The Jharkhand government declared a three-day state mourning, starting Monday, following the passing of the state's former Chief Minister and co-founder of Jharkhand Mukti Morcha, Shibu Soren. "In honour of the late Honourable former Chief Minister-cum-Rajya Sabha MP, the State Government has decided to observe 03 (three) days of state mourning from August 4 to August 6," the message from the Jharkhand government read. Also Read | Kerala Shocker: 47-Year-Old Man Dies by Suicide After Failing to Arrange Funds for Son's Engineering College Admission. ...Read More >
Mumbai, August 13, 2025 -- Motilal Oswal Mutual Fund has unveiled a special Independence Day campaign that honours India's spirited pursuit of freedom while drawing a parallel to the increasingly important journey towards self-reliance and financial independence. The film captures a warm exchange between a retired brigadier grandfather and his 20-something grandson. As they reminisce over their family legacy of freedom fighters and soldiers, the conversation shifts to the challenges of the present generation - staying relevant in the age of AI, fulfilling dreams despite the rising cost of liv ...Read More >
New Delhi, Aug 22 (PTI) Sebi chairman Tuhin Kanta Pandey on Friday cautioned the mutual fund industry that beyond market-linked investment risks, operational risks such as fraudulent redemptions by impersonators pose a growing threat to investor confidence. He stressed the need for heightened vigilance, urging asset management companies (AMCs) to respond swiftly and track evolving fraud patterns as perpetrators become more sophisticated. While there is a need to diversify beyond the blue chips, he noted, mutual funds as a retail product should exercise caution while investing in micro-cap or ...Read More >
VISAKHAPATNAM: Energy Minister Gottipati Ravi Kumar inaugurated Andhra Pradesh's first Super ECBC (Energy Conservation Building Code) compliant building at Sagar Nagar in Visakhapatnam on Friday. Terming it a landmark in sustainable infrastructure, he emphasised the government's commitment to energy efficiency and green design in public facilities. The facility will serve as a national-level training hub for power sector staff. He urged power utilities to expedite 20 lakh rooftop solar connections, targeting 10,000 in each Assembly segment. He reaffirmed nine-hour uninterrupted power for agri ...Read More >
Mumbai: State Bank of India's (SBI) record ₹25,000-crore institutional share sale was bid more than four times the stock on offer, with marquee names such as the $11-trillion asset manager BlackRock Group and London hedge fund Marshall Wace joining the queue to buy into the mass lender's first such capital-raising in eight years, people familiar with the bids told ET. Against ₹25,000 crore of stock SBI offered in India's biggest qualified institutional placement (QIP) to date, the most-valued government asset drew bids worth ₹1.10 lakh crore from about 120 interested parties. Market sources s ...Read More >
Mumbai: Mutual fund profitability could come under pressure with the size of assets under management growing, but a fall in unitholders' fees could compensate for this squeeze, said Nimesh Shah, MD and CEO of ICICI Prudential Asset Management Company, whose ₹10,600 crore Initial Public Offer (IPO) is open for subscription. The issue, which will close on December 16 (Tuesday), was subscribed 2.11 times on Monday-- the second day of the offer. "As the size of the fund grows, margins are coming down, but with TER (total expense ratio) coming down, volumes will grow, and volumes will compensate f ...Read More >
New Delhi, Dec 17 (SocialNews.XYZ) The Securities and Exchange Board of India (SEBI) on Wednesday approved a comprehensive overhaul of mutual fund regulations to improve cost transparency and reduce the expense burden on investors. According to the report, the changes were cleared by the SEBI board and will be implemented through the new SEBI (Mutual Funds) Regulations, 2026, replacing the existing 1996 framework after a detailed review. At the core of the reform is a revamp of the Total Expense Ratio (TER) framework. The SEBI has approved the exclusion of statutory and regulatory levies -- ...Read More >
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Ahmedabad: Gujarat International Finance-Tec City (GIFT City) has witnessed rapid growth in its fund management ecosystem over the past five years, with capital commitments rising sharply from less than $0.5 billion in March 2020 to $32.13 billion by Dec 2025, according to official data.Experts said the nearly six-fold increase reflects growing use of GIFT City for both India-focused and global investment strategies.The number of Fund Management Entities (FMEs) operating in the International Fina ...Read More >
Mumbai (Maharashtra) [India], May 27 (ANI): Jio BlackRock Asset Management, a 50:50 joint venture between Jio Financial Services and BlackRock, has received regulatory approval from the financial markets regulator SEBI to commence operations as an investment manager for their mutual fund business in India, a statement said Tuesday. JioBlackRock Asset Management will bring an innovative investment proposition to the growing number of Indian retail mutual fund investors, as well as to institutional investors in India, the joint statement said. Also Read | Suman Devi Thoudam Vows To Make Most o ...Read More >
NewsVoir Pune (Maharashtra) [India], July 7: The Bajaj Finserv Small Cap Fund is an open ended equity scheme predominantly investing in small cap stocks. It is an equity fund that invests in companies in their early stage of business growth. These companies rank 251st and beyond on the share market in terms of market capitalisation as per SEBI guidelines and they often operate in niche market sectors. As the Bajaj Finserv Small Cap Fund NFO nears its end, this can be a potentially suitable opportunity for you to explore the small cap space. Let's explore how the Bajaj Finserv Small Cap Fund ...Read More >
New Delhi: The Enforcement Directorate (ED) on Sunday announced the arrest of Viresh Joshi, a former chief trader and fund manager at Axis Mutual Fund, under the Prevention of Money Laundering Act (PMLA). Joshi is accused of defrauding investors of approximately Rs 200 crore through "front-running" in trading activities. A special PMLA court remanded Joshi, taken into custody on Saturday, to ED custody until August 8. The agency's action follows searches conducted on August 1 across multiple locations, including Delhi, Mumbai, Gurugram, Ludhiana, Ahmedabad, Bhavnagar, Bhuj, and Kolkata. ED o ...Read More >
New Delhi, Sep 29 (PTI) Homegrown Premier Energies on Monday announced securing multiple solar contract worth USD 19.95 million (around Rs 177 crore) Republic of Benin, West Africa. These projects are part of a national initiative by the Government of Benin to expand access to reliable, sustainable clean energy, Premier Energies said in a statement. Implementation will be carried out by Premier Energies in collaboration with the General Directorate of Energy Planning and Rural Electrification, under the Ministry of Energy, Water and Mines, Republic of Benin. The scope of the contracts cover ...Read More >
New Delhi: The net inflow into equity mutual funds surged 24 per cent to Rs 23,587 crore in June, reversing the declining trend of the last five months, driven by strong equity market performance across segments, data released by the Association of Mutual Funds in India (AMFI) showed on Wednesday. Also, the latest fund infusion by investors marks the 52nd consecutive month of net inflows into the segment. Akhil Chaturvedi, Executive Director & Chief Business Officer of Motilal Oswal AMC, said: "There is confidence amongst retail investors which is reflected through the incremental flows, this ...Read More >
NEW DELHI: A day after the arrest of one of its former fund manager Viresh Joshi by the enforcement directorate on allegations of front-running, the Axis Mutual Fund has clarified that the proceedings of the recent investigation by ED on a former employee bear no connection to the AMC's current operations, and that investors' investments with the AMC remain unaffected. "We would like to assert that none of the search or seizure actions involve any of Axis AMC's offices, branches, or premises. This matter pertains entirely to the alleged actions of an individual, whose employment was terminate ...Read More >
New Delhi [India], September 2: In the ever-evolving world of investing, Indian investors are constantly seeking options that provide a fine balance between risk and returns. This is where hybrid mutual funds have carved a niche for themselves in the Indian financial market. With increasing awareness about investment diversification, hybrid mutual funds are gaining traction among investors of all kinds--from beginners to seasoned professionals. This article delves deeply into what hybrid mutual funds are, their significance in today's investment landscape, and why they have become a preferred ...Read More >
Mumbai: Axis Mutual Fund's former fund manager Deepak Agrawal has settled a case of professional misconduct with market regulator Sebi by paying ₹85.8 lakh as settlement amount. The settlement terms also involved the clawback of over 43,300 mutual fund units allotted to Agrawal. These units were redeemed and the amount was credited to Axis Quant Fund and Axis Value Fund, Sebi said. The case stems from an inspection Sebi had conducted covering governance-related aspects of Axis Mutual Fund through a forensic audit for the period from April 1, 2020, to September 30, 2022. Following the inspe ...Read More >
New Delhi, Dec 16 (PTI) The initial public offering of ICICI Prudential Asset Management Company Ltd, an arm of the ICICI Bank, received 39.17 times subscription on the final day of bidding on Tuesday, led by heavy demand from institutional buyers. The Rs 10,602.65-crore IPO received bids for 1,37,14,88,316 shares against 3,50,15,691 shares on offer, according to details available with the NSE. The Qualified Institutional Buyers (QIBs) category fetched 123.87 times subscription, while the quota meant for non-institutional investors got subscribed 22.04 times. Retail Individual Investors (RII ...Read More >
Mumbai: Jio BlackRock Investment Advisers has received approval from the Securities and Exchange Board of India (Sebi) to launch a stock broking business in the country. The firm is a 50:50 joint venture between Mukesh Ambani's Jio Financial Services and US asset manager BlackRock. Jio BlackRock Broking aims to bring "affordable, transparent, and technology-driven execution capabilities" for Indian investors, said a release. This is the third regulatory clearance granted to the joint venture between Jio and BlackRock, following approvals for its asset management and investment advisory busin ...Read More >
Mumbai (Maharashtra) [India], August 3 (ANI): In a major crackdown on narcotics smuggling, officers of the Airport Commissionerate, Mumbai Customs Zone-III, have seized 14.738 kgs of suspected NDPS hydroponic weed (marijuana) valued at approximately Rs 14.73 crore during operations on Sunday. The seizures were made across Chhatrapati Shivaji Maharaj International Airport (CSMI), resulting in the arrest of one passenger, as stated in the press release. The passenger was arrested under the provisions of the Narcotic Drugs and Psychotropic Substances (NDPS) Act, 1985. Based on specific intel, ...Read More >
New Delhi: The top 1 per cent of India's wealthiest citizens have parked 60 per cent of their money in real estate and gold, according to a report on Monday. This segment of 'wealthiest citizens' is comprised of Ultra High Net Worth Individuals (UHNI), High Net Worth Individuals (HNI) and the affluent class, which accounts for only 1 percent of Indian households but controls nearly 60 per cent of the country's total assets, the report by US-based wealth management firm Bernstein said. This segment holds $11.6 trillion in total wealth and 70 per cent of India's financial assets, the report sa ...Read More >
New Delhi, Jun 26 (PTI) Singapore-based Cube Mobility Investments on Thursday divested a 3.62 per cent unitholding in Cube Highways Trust for Rs 615 crore through open market transactions. As per the bulk deal data on the BSE and NSE, Cube Mobility Investments Pte sold more than 2.81 crore units of Cube Highways Trust (Cube InvIT) on the BSE and it offloaded 2.01 crore units on the NSE, representing a combined 3.62 per cent unitholding in Cube InvIT . Also Read | What Are the New Metro Compensation Rules in India? Ministry of Housing and Urban Affairs Enhances Payouts for Death and Severe In ...Read More >
Hyderabad: Chief Minister A Revanth Reddy on Thursday warned educational institutions that cases would be booked against them if drugs were found in their premises. The CM announced that the state's Anti-Narcotics Bureau would henceforth be known as Elite Action Group for Drug Law Enforcement (EAGLE) and was tasked with curbing the menace of narcotics in the state. Speaking at an event marking the International Day Against Drug Abuse and Illicit Trafficking 2025 at Shilpakala Vedika here, Reddy placed an onus on educational institutions to ensure their campuses were free of drugs. "It is the ...Read More >
In a bid to deepen financial inclusion, Nippon Life India Asset Management Ltd has opened a branch in Leh and is looking to expand its presence in border areas, its CEO Sundeep Sikka said. With this, Nippon Life India Asset Management (NAM India) -- promoted by Japan's Nippon Life Insurance Company -- becomes the only asset management company in the country to establish a physical presence in such a high-altitude region. This marks NAM India's 167th branch and its presence in 266 pin codes acro ...Read More >
New Delhi: In the past year, gold has delivered massive gains to Indian investors. On 11 September 2024, the price of 24-karat physical gold stood at around Rs 73,200 per 10 grams. One year later, it has surged to Rs 1,12,500 per 10 grams -- a jump of nearly 54 percent. Gold ETFs have mirrored this rally too. Over the last 12 months, these exchange-traded funds have offered average returns of up to 50 percent. August 2025 alone saw a net inflow of Rs 2,189.5 crore into gold ETFs -- the fourth consecutive month of inflows. According to AMFI, their assets under management (AUM) hit a record Rs ...Read More >
Bangalore : Axis Mutual Fund, one of India's leading asset management companies, today announced the launch of the Axis Income Plus Arbitrage Passive FOF, an innovative open-ended scheme designed to offer investors a blend of stability, predictability, and tax efficiency. The New Fund Offer (NFO) will open for subscription on Oct 28, 2025, and close on Nov 11, 2025. The fund is managed by Devang Shah (Head - Fixed Income), Aditya Pagaria (Senior Fund Manager), Hardik Satra (Senior Fund Manager), and Karthik Kumar (Fund Manager). This new offering is tailored for investors seeking to optimize ...Read More >
New Delhi [India], July 9 (ANI): The Competition Commission of India (CCI) approved the acquisition of wealth and lending units of UBS AG by 360 ONE Group entities. According to the Competition Commission of India, the transaction involves the transfer of key financial services operations, including portfolio management, stock broking, distribution, and lending from UBS AG to the 360 ONE entities. The proposal approved by the Competition Commission suggests that 360 ONE Portfolio Managers Limited will acquire the portfolio management services business of Credit Suisse Securities (India) Priv ...Read More >
NEW DELHI: The Directorate of Enforcement (ED) has arrested Viresh Gangaram Joshi, the former fund manager of Axis Mutual Fund, in connection with a multi-crore front-running scam that allegedly defrauded investors between 2018 and 2021. A special Prevention of Money Laundering Act (PMLA) court has sent Mr. Joshi, who was taken into custody on Saturday, to ED custody till August 8, the agency said. The ED's investigation, initiated based on a December 2024 FIR from Mumbai Police, alleges that Joshi exploited his position to engage in "front-running," an illegal practice where an individual u ...Read More >
The Asia Pacific Stevie Awards are considered among the region's premier business awards Financial services platform KFin Technologies Ltd has been awarded a Bronze Stevie Award at the 2025 Asia Pacific Stevie Awards in the innovation in brand renovation category, the company said in a statement on June 2. The company's submission, "KFintech's Rebranding Journey - Transforming from Fintech to Techfin," was recognized in the Awards for innovation in marketing track. "Receiving this Bronze Stevi ...Read More >
MUMBAI (Reuters) -Jio BlackRock Asset Management plans to introduce nearly a dozen equity and debt funds in India by the year-end, focusing on small-ticket investments and bypassing distributors to reduce costs, three people familiar with the firm's strategy said. The joint venture between Jio Financial Services, backed by billionaire Mukesh Ambani, and BlackRock, enters India's 72.2 trillion rupee ($844 billion) funds market with a business structure that threatens to shake up the sector, as it leverages its large digital network to bypass traditional distributors used by the rest of the ind ...Read More >