Breaking News Archives

20 Apr

Easy Process: NRIs wanting to invest in Indian Mutual Funds

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#NRIinvestIndianMutualFunds Mumbai: Mutual Funds provide NRIs with a structured way to invest in India's financial markets, enabling capital growth and diversification. The Indian mutual fund industry's AUM has more than doubled in five years. NRIs need to complete KYC and choose the right bank account for investment. As India takes giant strides on the path to development and gets set to meet its target of a $5 trillion economy, the prospect of participating in its financial markets is an opportunity for wealth creation for Indians residing in the country and those settled overseas. Towards this, Mutual Funds offer a structured…

19 Apr

KFintech to acquire Ascent Fund Services to expand into fast growing Global Fund Administration market

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#KFintechAscentFundServices Chandigarh: KFin Technologies Limited ("KFintech”), a leading provider of investor and issuer solutions to global asset managers, has entered into a definitive agreement with Ascent Fund Services Pte. Ltd (“Ascent”) to acquire controlling stake of 51% for US$ 34.7 million, with a path to 100% ownership over the next five years. Post this transaction, KFintech will become the sole promoter of Ascent, and the residual 49% stake will be acquired in three equal tranches of 16.33% each after the end of fiscal year 2028, 2029, and 2030 respectively. The transaction is subject to customary regulatory approvals. Headquartered in Singapore,…

19 Apr

Groww contributed by 40% to NSE’s 84 Lakh New Accounts in FY25

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#GrowwNSE ~Groww emerges as India’s fastest-growing brokerage platform, leading in active client growth and market share gains~ Chandigarh: India’s investing landscape continues to evolve rapidly, with FY25 witnessing the addition of over 84 lakh new active demat accounts on the National Stock Exchange (NSE), reflecting an annual growth of 20.5%. The total number of active demat accounts stands at 4.92 crore. At the forefront of this shift is Groww, which alone accounted for over 40% of these net additions – reinforcing its position as the country’s fastest-growing brokerage platform. As per NSE data, Groww’s active client base surged from 95…

18 Apr

SEBI is looking to ease AMC’s business activity restrictions, streamline MF scheme categorisation

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#SEBIAMCMFschemecategorisation Overhaul of mutual fund regulations, possible relaxations are in process Mumbai: The Securities and Exchange Board of India (SEBI) is working on a review of mutual fund (MF) regulations, including possible relaxations on clause 24 (b) restrictions on business activities, the scheme categorisation framework, and other recent operational changes, said Executive Director Manoj Kumar. Speaking at the CII’s 18th Mutual Fund Summit 2025, Kumar said, “We are doing a significant review of regulation 24. Those who are familiar with the regulation may recall that this is the only respective clause of the entire mutual fund regulation. We are also…

16 Apr

Exports during FY 2024-25 is estimated to grow by 5.50% at $820.93 Billion, $778.13 Billion in 2023-24

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Drugs & Pharmaceuticals exports increased by 9.39% from US$ 27.85 Billion in FY 2023-24 (April-March) to US$ 30.47 Billion in FY 2024-25 (April-March) New Delhi: India’s total exports (Merchandise and Services combined) for March 2025* is estimated at US$ 73.61 Billion, registering a positive growth of 2.65 percent vis-à-vis March 2024. Total imports (Merchandise and Services combined) for March 2025* is estimated at US$ 77.23 Billion, registering a positive growth of 4.90 percent vis-à-vis March 2024. Table 1: Trade during March 2025* March 2025 (US$ Billion) March 2024 (US$ Billion) Merchandise Exports 41.97 41.69 Imports 63.51 57.03 Services*…

16 Apr

Over 1.3 Crore Persons Insured through GeM in FY 2024-25

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GeM facilitates hiring of 1 million people in FY 2024-25 New Delhi: Government e Marketplace (GeM), India's largest e-marketplace for public procurement, sets yet another milestone in services delivery in the FY 24-25. Apart from facilitating hiring of 1 million manpower resources in FY 24-25, GeM has successfully facilitated insurance of more than 1.3 crore individuals covering Health, Life and Personal Accident Insurance policies. The Insurance Services category was introduced on GeM in January 2022 to bring greater efficiency, transparency and cost-effectiveness in procuring insurance policies. By ensuring that only Insurance Regulatory and Development Authority of India (IRDAI) -approved service…

16 Apr

Axis Mutual Fund joins ONDC Network to Expand Access to Mutual Fund Investments

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#AxisMutualFundONDCNetwork Chandigarh: Axis Mutual Fund, one of India's leading asset management companies, has now joined Open Network for Digital Commerce (ONDC) Network to facilitate transactions in Axis Mutual Fund Schemes through this network. ONDC is an initiative by DPIIT, Ministry of Commerce aimed at democratising digital commerce by establishing an interoperable open network for digital transactions.. This integration marks a significant step toward making mutual fund investments in its schemes more accessible, affordable, and inclusive, particularly for investors of Axis MF in underserved markets. By integrating with this open network, Axis Mutual Fund aims to empower its investors—to easily access…

15 Apr

Bank of India Reduces Home Loan Rates by 25 Basis Points for New and Existing Customers

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#BOIReducesHomeLoan25BP Chandigarh: Bank of India, one of the leading public sector banks in India, has announced a reduction of 25 basis points in its home loan interest rates, benefitting both new and existing customers. With this revision, the home loan rate stands reduced to 7.90% p.a. based on CIBIL score. This move is aimed at making home ownership more accessible and affordable, in line with the Bank’s ongoing commitment to support customers in achieving their financial goals. The revised rates come into effect from the 15th April 2025. In addition to home loans, Bank of India has also reduced interest…

15 Apr

Bulls are Back: Sensex jumped over 1,750 points and the Nifty surged past 22,300

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#BullsareBackSensex1750UP Indian investors get richer by nearly Rs 11 lakh cr, one of the sharpest single-session gains in recent months. Mumbai: Since the close of April 3, the Nifty and Sensex are higher by 0.6 percent and 0.3 percent respectively, while the overall market-cap gains since then amount to Rs 78,699.55 crore. Financials, which hold the highest weight on the indices, gained more than 2 percent. The smallcap and midcap indices also rallied 3 percent each, staging a recovery from recent underperformance. Indian equities staged a dramatic comeback on Tuesday, wiping out all the losses since the Liberation Day. The Sensex…

14 Apr

Capitalmind Financial, Jio BlackRock and Pantomath Capital Advisors to launch mutual fund business soon

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#CapitalmindFinancialMF #JioBlackRockMF #PantomathCapitalAdvisorsMF Mutual Fund Market: Three new players to launch mutual fund business will launch their MF business in the coming months Mumbai: SEBI data shows that three new players will launch their MF business in the coming months. These include Capitalmind Financial, Jio BlackRock and Pantomath Capital Advisors. All the three players have already received an in-principal approval. In fact, Capitalmind Financial has received a final approval to launch schemes while the other two await the same. While the management of Jio Blackrock could not be reached till the time of writing this article, Cafemutual talked to the…