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 : Shriram Asset Management Company Ltd. (Shriram AMC), part of the Shriram Group, is pleased to announce the appointment of Mr. Amit Modani as Senior Fund Manager and Lead - Fixed Income. In this role, Amit will contribute to the company's overall investment strategy and AUM with a focus on Fixed Income Markets to help investors, both institutional and individual, build diverse debt portfolios that are more resilient to economic and market shifts. Amit brings over 13 years of experience in the Fixed Income markets, spanning money markets, macro and duration strategies, combining quantitative risk analysis with fundamental insights. He joins Shriram AMC from Mirae Asset Mutual Fund, where he managed a wide range of fixed income funds like Liquid, Money Market, Arbitrage, Short Term and Corporate Bond Funds and gained expertise in Target Maturity and Exchange Traded Funds. Previously, Amit worked with BOI Mutual Fund and PGIM Mutual Fund, where he managed portfolios across the fixed income yield curve and actively traded in government securities, corporate bonds, and money market instruments. His career has been defined by building investment frameworks that balance risk management, regulatory compliance, and deep market insights to serve diverse investor needs. In the current macro-economic environment, with rates being held steady to balance inflation and growth priorities, his expertise in navigating fixed income opportunities in various scenarios positions him strongly to drive Shriram AMC's debt offerings. Welcoming him to the team, Kartik Jain, Managing Director and CEO, Shriram AMC, said: "We are delighted to welcome Amit to Shriram AMC. His strong track record in managing fixed income strategies with a data led mindset to risk, coupled with deep market understanding, makes him the right fit for our growing quantamental investment platform. With Amit on board, we are confident of further enhancing our debt portfolio and delivering differentiated solutions aligned with the evolving needs of investors including treasuries. His appointment reflects our commitment to building a strong talent pool and strengthening our investment capabilities as we continue to scale Shriram AMC into a trusted and world class asset management company." Amit is a Chartered Accountant and a member of Institute of Company Secretaries of India by educational qualification and was recently rewarded the "CA 40 under 40" Prestigious award by The Institute of Chartered Accountants of India. Sharing his enthusiasm on joining Shriram AMC, Amit Modani said: "I am delighted to join Shriram AMC at a pivotal stage of our growth journey. Our investors look for stable risk adjusted returns from their debt portfolios, with the promise of a steady stream of income and capital preservation with predictability, that can complement higher-risk assets and contribute to long-term wealth creation. Well managed Fixed Income plays a critical role in ensuring portfolio stability and I look forward to leveraging my experience to design data led risk adjusted strategies that are responsive to policy directions and create consistent value for investors in the long run." With Sanlam Emerging Markets (Mauritius) Limited (SEMM), coming on board as a promoter, along with the existing joint promoter Shriram Credit Company Limited, Shriram AMC is committed to strengthening its talent pool and investment processes to deliver innovative, customer-centric solutions, further reinforcing its position in the mutual fund industry.
India's manufacturing sector growth fell to a joint 11-month low, restricted by competitive conditions and inflationary pressures India's manufacturing sector growth fell to a joint 11-month low of 56.5 in November, restricted by competitive conditions and inflationary pressures amid a softer increase in factory orders, a monthly survey said on Monday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) fell from 57.5 in October to 56.5 in November, signalling a softer improvement in the health of the sector. However, the pace of growth remained above its long-r ...Read More >
Inflows into corporate bond funds have risen to multi-year highs in recent months with the risk-reward dynamics of AAA-rated corporate bonds improving significantly vis-a-vis government securities (g-secs), especially in the near term. The inflows into corporate bond funds jumped sharply in September 2024 to a multi-year high of Rs 5,039 crore. Investors poured in another Rs 4,644 crore in October. Including around Rs 2,200 crore estimated inflows in November, the three month tally rises to Rs 1 ...Read More >
Bengaluru (Karnataka) [India], December 13: IIFL Capital Services Limited (formerly IIFL Securities Limited) today announced the unveiling of its state-of-the-art office in Bengaluru, dedicated to wealth management services for High Networth Individuals (HNIs) and Ultra High Networth Individuals (UHNIs). IIFL Capital Services is one of the largest wealth managers in India, with about $30 billion (Rs 2.5 lac crore) worth of assets under management, advice and custody. Also Read | Big score is just around the corner for Steve Smith, Skipper Pat Cummins Backs Star Batter Ahead of IND vs AUS 3rd ...Read More >
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 >
Mumbai (Maharashtra) [India], June 6 (ANI): The Reserve Bank of India (RBI) Governor Sanjay Malhotra is set to announce the policy repo rate today at 10 AM in Mumbai, as the three-day Monetary Policy Committee (MPC) meeting comes to a close. This policy meeting comes at a time when inflation in the country has been steadily declining. According to the Ministry of Statistics and Programme Implementation, India's retail inflation fell to 3.16 per cent in April, compared to 3.34 per cent in March. The decline in inflation has brought it below the Reserve Bank's comfort level of 4 per cent, lead ...Read More >
New Delhi: The Enforcement Directorate (ED) on Friday carried out searches at 15 places in Mumbai and Kochi in connection with the Mithi River desilting scam that caused a wrongful loss of more than Rs 65 crore to the Brihanmumbai Municipal Corporation (BMC), official sources said. The massive crackdown is underway at the premises across Mumbai and Kochi linked to the accused and suspects as part of an ongoing probe into alleged financial irregularities. According to the sources, the searches are being carried out under the provisions of the Prevention of Money Laundering Act (PMLA) at locat ...Read More >
New Delhi [India], June 6 (ANI): Economists across the board have welcomed the Reserve Bank of India's (RBI) latest policy decision, terming the 50 basis points (bps) repo rate cut as a pro-growth move that is expected to significantly boost liquidity and economic activity in the country. On Friday, RBI Governor Sanjay Malhotra announced the decision of the Monetary Policy Committee (MPC), stating that the policy repo rate has been reduced from 6 per cent to 5.5 per cent. Also Read | Citigroup Layoffs: Banking Giant To Cut 3,500 Tech Roles From China Citi Solution Centres in Shanghai and Dal ...Read More >
Mumbai, June 6 (SocialNews.XYZ) The Securities and Exchange Board of India (SEBI) has ordered the attachment of absconding businessman Mehul Choksi's bank accounts, mutual funds, and shares in an effort to recover Rs 2.1 crore. The amount is related to a penalty imposed on him for violating insider trading rules in the shares of Gitanjali Gems. Choksi, who was the Chairman and Managing Director of Gitanjali Gems, is accused of sharing unpublished price-sensitive information (UPSI) with an associate, Rakesh Girdharlal Gajera. Based on that information, Gajera sold off his entire 5.75 per cen ...Read More >
India's growth in gross domestic product (GDP) of 5.4% in the three months ended 30 September, or the second quarter of 2024-25, was a shocker. It undershot even the most pessimistic forecasts. It's the lowest level seen since the third quarter of 2022-23 and a sharp drop from 8.1% growth in the same period last year and also from 6.7% in the first quarter of 2024-25. The consensus expectation stood at about 6.5% and the Reserve Bank of India (RBI) was expecting around 7% growth till its October policy, only to pare it to 6.8%. Growth in gross value added (GVA), which is the preferred measure ...Read More >
New Delhi, June 6 (SocialNews.XYZ) Top bankers on Friday hailed the Reserve Bank's decision to reduce repo rate by 50 basis points to 5.50 per cent and cash reserve ratio (CRR) by 100 basis points in four tranches, saying the policy move is expected to provide the necessary drive for credit expansion in priority sectors which will enhance the financial inclusion. Besides this, the revision in CPI inflation to 3.7 per cent for FY26 also shows the RBI's confidence in inflation being aligned with its 4 per cent target. "The decision in CRR cut, which is expected to release Rs 2.5 lakh crore in ...Read More >
New Delhi, Jun 6 (PTI) The decision of the Reserve Bank to cut policy rate by 50 basis points will have a positive impact on the automobile sector as it will make loans cheaper, industry body SIAM said on Friday. The RBI on Friday cut repo rate by a higher-than-expected 50 basis points to prop up growth, which has slowed to a four-year low of 6.5 per cent in FY25. Following the rate cut, the key policy rate eased to a three-year low of 5.5 per cent, providing relief to home, auto and corporate loan borrowers. "Such reduction in repo rates would have a positive impact on the auto sector since ...Read More >
New Delhi, June 7 (SocialNews.XYZ) The Reserve Bank of India (RBI) has chosen to frontload its rate cuts, turning to support growth amid benign inflation prospects, according to a Crisil report, which expects one more repo rate cut this fiscal (FY26), and a pause after that. The global ratings agency also expects India's GDP at 6.5 per cent this fiscal, with risks on the downside due to US tariff hikes. Crisol listed some factors which are expected to help domestic growth hold up against global tariff risks. "Positive outlook on rains and crude oil prices and healthy external accounts -- lo ...Read More >
New Delhi, Jun 8 (PTI) Equity investors would track global market trends, inflation data and trading activity of foreign investors for further cues this week, analysts said. Moreover, progress of monsoon and developments related to trade talks would also be monitored by investors, experts noted. "Going forward, market participants will focus on key macroeconomic data for further cues. High-frequency indicators such as CPI inflation will be closely tracked to gauge demand trends and the central bank's next steps. Additionally, the progress of monsoon and sowing patterns will be monitored due ...Read More >
New Delhi, Jun 27 (PTI) Jio BlackRock Broking Pvt Ltd, a wholly owned subsidiary of Jio BlackRock Investment Advisers Pvt Ltd, has received regulatory approval from the Securities and Exchange Board of India (Sebi) to commence operations as a brokerage firm. JioBlackRock Broking aims to bring affordable, transparent, and technology-driven execution capabilities for investors, the company said in a statement. The broking entity's parent company, JioBlackRock Investment Advisers, is a 50:50 joint venture between Jio Financial Services Ltd (JFSL) and BlackRock Inc of the US. Along with the rec ...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 >
Mumbai (Maharashtra) [India], June 6 (ANI): The Reserve Bank of India (RBI) Governor Sanjay Malhotra is set to announce the policy repo rate today at 10 AM in Mumbai, as the three-day Monetary Policy Committee (MPC) meeting comes to a close. This policy meeting comes at a time when inflation in the country has been steadily declining. According to the Ministry of Statistics and Programme Implementation, India's retail inflation fell to 3.16 per cent in April, compared to 3.34 per cent in March. The decline in inflation has brought it below the Reserve Bank's comfort level of 4 per cent, lead ...Read More >
Mumbai, June 6: Benchmark indices Sensex and Nifty surged nearly 1 per cent on Friday, driven by a rally in rate-sensitive sectors following the Reserve Bank's jumbo rate cut of 50 basis points. Market analysts said in light of benign inflation forecasts, RBI has taken steps to boost growth. A 50 bps repo rate cut supported by phased 100 basis points CRR cut will boost growth and lower the borrowing costs. The policy is broadly positive for growth and investment in a challenging global macro environment, they said. After a muted start, benchmark sensitive index Sensex and Nifty soon recovered ...Read More >
New Delhi, Dec 12 (PTI) Terming the 5.4 per cent GDP growth in the second quarter as a "temporary phenomena", FICCI President Harsha Vardhan Agarwal on Thursday said the industry body expects India to achieve 6.5-7 per cent economic growth in the current financial year, while projecting a pick up in private investment. In an interview to PTI, Agarwal, who is also the Vice Chairman & Managing Director of Emami Ltd, said the RBI needs to manoeuvre a "tight-rope balancing act" between inflation and economic growth, as he opined that the central bank has been doing a prudent job. Notably, the FI ...Read More >
NEW DELHI: Former head of Air India and chairman of the Railway Board Ashwani Lohani is the new Prime Ministers Museum and Library (PMML) director. The official order for his appointment was issued on Wednesday. A 1980-batch officer of the Indian Railway Service of Mechanical Engineering (IRSME), Lohani is known for turning around various organisations during his illustrious career. Following his retirement from IRSME service, he joined the GMR Group as the CEO. According to the order dated June 4, his appointment to the post of director, Prime Ministers Museum and Library in the rank and pa ...Read More >
Balaji Govindarajan is a seasoned professional with over 20 years of extensive experience in the insurance domain, particularly focusing on Property and Casualty Insurance. His expertise encompasses planning and executing large-scale end-to-end testing, integration projects, and legacy system migration. He has successfully led numerous initiatives that enhance operational efficiency and compliance with industry standards. Balaji's experience encompasses functional and automation testing of critical applications such as Policypro, Duck Creek, Guidewire and various policy administration and bil ...Read More >
Anuj Kumar, Director & CEO of CAMS, highlights that despite recent market corrections, the company expects FY25 to be one of its strongest years. CAMS continues to dominate by winning 70-80% of new bids, focusing on execution and margin expansion, and anticipates significant revenue and profit growth driven by mutual funds and associated business lines.Anuj Kumar, Director & CEO, CAMS, says there has been some market correction and some flattening of the mood in the last two months. But as things come back, we should be holding our projections and FY25 should be one of the strongest years in t ...Read More >
Mumbai: The Multi Commodity Exchange of India (MCX) has received approval from the Securities and Exchange Board of India (Sebi) to launch electricity derivatives, according to a regulatory filing on the BSE. These contracts -- linked to the price of electricity -- will allow power generators, distribution companies, and large consumers to hedge against price volatility and manage risks more effectively. "The electricity derivatives contracts will enhance efficiency in the power market," MCX said in its filing. The launch marks the resolution of a long-standing jurisdictional tussle over the ...Read More >
India's International Train Links: These 5 Indian Stations Connect You To Another Country By Train Kerala Lottery Results Saturday 07-06-2025 LIVE: The Kerala Lottery Department, on behalf of the state government, will announce the results for the Karunya KR-709 draw today, June 07, 2025. The lucky draw will take place at Gorky Bhavan, near Bakery Junction in Thiruvananthapuram. This week's Karunya KR-709 lottery includes 12 series, with the series being subject to change each week. A total of 1.08 crore tickets are available for sale weekly, and ticket prices may vary. Check the Karunya KR-7 ...Read More >
Trump's pressure on countries to remain tied to a US-dollar-based financial system could backfire, with potential increased motivation for BRICS to create alternatives. While the dollar's dominance persists due to existing economic strengths, recent global currency agreements indicate a cautious shift away from reliance on the greenback.Donald Trump's pressure on countries around the world to stay anchored to a US-dollar-based financial system is a tactic that risks backfiring, market watchers say. Dollar dominance looks set to continue for the foreseeable future and emerging nations' idea of ...Read More >
Bengaluru: The Karnataka government on Thursday took strong action against the police officers allegedly responsible for the Bengaluru stampede, suspending several high-ranking officials, including the city's police commissioner. Addressing a press conference, Chief Minister Siddaramaiah also announced a one-man commission to probe the lapses that triggered the deadly stampede. "Cubbon Park Police Station police inspector, station house master, station house officer, ACP, Central Division DCP, cricket stadium in-charge, additional commissioner of police, commissioner of police have been susp ...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 >
By Shankar Bhaskaran, Managing Director - India, MetricStream In recent years, operational risk management (ORM) has garnered significant attention from banking and financial services (BFS) regulators. The increasingly unpredictable operational landscape -- characterised by fluctuating business prospects, a rise in regulations and updates, escalating service costs, and internal challenges such as operational lapses, fraud, and employee disengagement -- has created a pressing need for robust operational risk management strategies in BFS organisations. Fortunately, the leaders of BFS organisat ...Read More >
Amante Capital, KKR's dedicated European hospitality platform, will serve as managing partner to the joint venture LONDON--(BUSINESS WIRE)--Leading investment firms KKR and The Baupost Group today announced a joint venture to purchase a portfolio of 33 Marriott International (NASDAQ:MAR) hotels across the UK from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA). Amante Capital, KKR's vertically integrated European hospitality platform, will serve as managing partner for the joint venture and the properties will continue as premium Marriott branded hotels. The portfolio ...Read More >
Mumbai, Jun 6 (PTI) The RBI on Friday cut repo rate by a higher-than-expected 50 basis points to prop up growth, which has slowed to a four-year low of 6.5 per cent in FY25. Following the rate cut, the key policy rate eased to a three-year low of 5.5 per cent, providing relief to home, auto and corporate loans borrowers. This is the lowest repo rate in three years. The repo rate -- the rate at which banks borrow funds from the RBI -- had last stood at 5.40 per cent on August 5, 2022. After a detailed assessment of the evolving macroeconomic and financial development, as well as the economi ...Read More >
MUMBAI: In a move that jolted markets and defied expectations, the Reserve Bank of India cut its benchmark policy rate by 50 basis points and announced a Rs 2.5 lakh crore liquidity infusion via a 100 basis point reduction in the cash reserve ratio (CRR). The CRR cut reduces the portion of deposits banks must park with the central bank, effectively freeing up funds to support credit growth.Governor Sanjay Malhotra framed the dual action as a response to shifting macroeconomic conditions, stating that the evolving growth-inflation dynamics warranted "not just continued policy easing, but also f ...Read More >