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India`s markets regulator to ease proposals on mutual fund fee structures  India’s markets regulator will put forth two options to water down its earlier proposal to levy a standard investor fee on mutual funds, to limit the impact on the profitability of the 44.3 trillion-rupee ($537.75 billion) asset management industry, two sources with direct knowledge of the matter said. The changes, following a push-back from the industry, will be part of a discussion paper likely to be issued in the coming weeks, the sources said. A discussion paper is the firs...
India`s markets regulator to ease proposals on mutual fund fee structures
India`s markets regulator to ease proposals on mutual fund fee structures
Source: Reuters
2/08/2023 11:58:56 AM
Bajaj Finance logs standalone PAT Rs 2,959 cr for Q1 Non-banking finance company Bajaj Finance Ltd on Wednesday said it has logged Rs 2,959.06 crore net profit for the first quarter of FY24. In a regulatory filing, the company said for the period under review it had earned a total income of Rs10,665.69 crore (Q1FY23 Rs 8,146.52 crore) and a net profit of Rs 2,959.06 crore (Rs 2,355.92 crore). On a consolidated basis the company has logged a net profit of Rs 3,436.89 crore (Rs 2,596.25 crore). According to Bajaj Finance, the assets unde...
Bajaj Finance logs standalone PAT Rs 2,959 cr for Q1
Bajaj Finance logs standalone PAT Rs 2,959 cr for Q1
Source: IANS
26/07/2023 2:58:11 PM
ICRA revises upward growth outlook for NBFC-Retail and HFC-Retail Credit rating agency ICRA in its latest report has revised upward the growth outlook for the current financial year (FY24) for the retail loans of Non-Bank Financial Companies (NBFC-Retail) and Housing Finance Companies (HFC-Retail), which account for the bulk of the overall sector. According to the report, the NBFC-Retail asset under management (AUM), estimated at around Rs 14 lakh crore as of March 2023, is expected to grow at a higher pace of 18-20 per cent in FY24 vis-a-vis the previou...
ICRA revises upward growth outlook for NBFC-Retail and HFC-Retail
ICRA revises upward growth outlook for NBFC-Retail and HFC-Retail
Source: Accord Fintech
21/07/2023 11:29:55 AM
NBFC-MFI`s AUM likely to grow by up to 30% in FY24: Crisil Domestic rating agency Crisil in its latest report has said that Non-Bank Finance Companies-Microfinance Institutions’ (NBFC-MFI) Assets Under Management (AUM) are expected to grow by up to 30 per cent in the current financial year (FY24).  In a report, Crisil said the NBFC-MFI segment's AUM stood at Rs 1.3 lakh crore at the end of March 2023, and the segment has the highest share in the overall microlending universe which also consists of small finance banks, universal bank...
NBFC-MFI`s AUM likely to grow by up to 30% in FY24: Crisil
NBFC-MFI`s AUM likely to grow by up to 30% in FY24: Crisil
Source: Accord Fintech
2/06/2023 12:37:20 PM
Retail exposures of NBFCs likely to expand by 12-14% in FY24: ICRA Credit Rating Agency ICRA in its latest report has said that the retail exposures of non-banking financial companies (NBFCs, excluding housing finance companies) are likely to expand by 12-14% in the current fiscal (FY24) with unsecured loans remaining the key driver; this follows the robust growth of 25% in FY23. The assets under management (AUM) exceeded Rs 14 trillion as of March 2023, with growth significantly surpassing expectations.  According to the report, most asset segments ...
Retail exposures of NBFCs likely to expand by 12-14% in FY24: ICRA
Retail exposures of NBFCs likely to expand by 12-14% in FY24: ICRA
Source: Accord Fintech
31/05/2023 11:28:27 AM
Manappuram Posts Rs 1,500 Crore Profit for FY`23, Q4 net profit jumps 59% to Rs 415 Crore Manappuram Finance Limited has reported a consolidated profit after tax (PAT) of Rs 415 crore for the fourth quarter ended March 31, 2023. The performance represents a growth of 59.1 percent in comparison to the PAT of Rs 261 crore reported in the corresponding quarter of the previous year. Profit after tax for the full year stands at Rs 1,500 crore, an increase of 12.9 percent Y-O-Y.   The company’s consolidated Assets under Management (AUM) grew by 17.2 percent to Rs 35,452...
Manappuram Posts Rs 1,500 Crore Profit for FY`23, Q4 net profit jumps 59% to Rs 415 Crore
Manappuram Posts Rs 1,500 Crore Profit for FY`23, Q4 net profit jumps 59% to Rs 415 Crore
Source: PR Agency
13/05/2023 10:15:23 AM
National Pension Scheme subscribers rise 23% to 6.24 cr Y-o-Y Subscribers of various schemes under the National Pension System (NPS) rose to 6.24 crore as on March 4, 2023 from 5.08 crore in the corresponding period of 2022, marking a growth of 22.88 per cent on a year-on-year basis. According to data released by the Pension Fund Regulatory and Development Authority (PFRDA) on Friday, in NPS, the highest growth was seen in the All Citizen Model, where the subscriber base rose by a huge 32 per cent to 28.40 lakh from 23 lakh during the year-ago period...
National Pension Scheme subscribers rise 23% to 6.24 cr Y-o-Y
National Pension Scheme subscribers rise 23% to 6.24 cr Y-o-Y
Source: IANS
11/03/2023 10:02:59 AM
India`s Bajaj Finance falls over 8% as loan growth, AUM moderates in Q3 BENGALURU - Shares of Bajaj Finance fell as much as 8.3% on Thursday, a day after the Indian shadow lender reported moderation in loan growth and assets under management (AUM) during the third quarter. New loans booked in the quarter ended Dec. 31 were up 5.4% year-on-year against 7.9% recorded in the second quarter, while AUM grew 27% as of Dec. 31 against the 31% recorded in the previous quarter.
India`s Bajaj Finance falls over 8% as loan growth, AUM moderates in Q3
India`s Bajaj Finance falls over 8% as loan growth, AUM moderates in Q3
Source: Reuters
5/01/2023 9:52:12 AM
India`s Blume Ventures raises over $250 million for new fund  Blume Ventures, a seed-stage Indian investor, has raised more than $250 million for its fourth and largest fund to court more early-stage startups, the venture firm said on Wednesday. The new fund will focus on edtech, fintech, health, commerce and consumer internet. It will also invest in robotics, artificial intelligence, software-as-a-service and enterprise software, it said in a statement. The investors in the fourth fund include domestic and global family offices, sovereign w...
India`s Blume Ventures raises over $250 million for new fund
India`s Blume Ventures raises over $250 million for new fund
Source: IANS
7/12/2022 11:02:04 AM
Systematic investment plan contribution crossed Rs 13,000 crore mark in October: Mutual fund industry data Systematic investment plan (SIP) contribution crossed Rs 13,000 crore mark in October, according to data released by the Association of Mutual Funds of India (AMFI). The monthly data showed that SIP contribution of Rs 13,040.64 crore in October was more than Rs 12,976.34 crore in September. Mutual fund folios crossed all-time high at 13,90,77,745 crore and retail mutual funds folios too were at an all-time high at 11,08,00,239 crore. Mutual fund industry's net asset under managem...
Systematic investment plan contribution crossed Rs 13,000 crore mark in October: Mutual fund industry data
Systematic investment plan contribution crossed Rs 13,000 crore mark in October: Mutual fund industry data
Source: IANS
11/11/2022 10:25:12 AM
Essar eyes commisioning of 4mtpa steel complex in Saudi Arabia by end-2025 In an interview to an international publication posted on social media, a senior executive of Essar said that the company plans to build a 4mtpa steel complex in the Kingdom of Saudi Arabia. India's Essar Group, which is carrying out the largest foreign direct investment in Saudi Arabian steel industry history, chose the country due to its investment-friendly environment, says Essar corporate planning general manager Amar Kapadia. The new integrated flat steelworks is scheduled to b...
Essar eyes commisioning of 4mtpa steel complex in Saudi Arabia by end-2025
Essar eyes commisioning of 4mtpa steel complex in Saudi Arabia by end-2025
Source: IANS
20/09/2022 11:51:28 AM
Housing finance companies' AUM to grow 10-12% in FY23: CRISIL The assets under management (AUM) of housing finance companies are expected to grow 10-12 per cent in this financial year 2022-23, as against 8 per cent in the last financial year, mainly due to home loans, which could grow 15 per cent on-year, said CRISIL. Last fiscal, HFC growth was a story of two halves: stunted to just about 2 per cent (annualised) in the first half because of the second wave of the pandemic, and a V-shaped 14 per cent (annualised) growth in the second half. "S...
Housing finance companies' AUM to grow 10-12% in FY23: CRISIL
Housing finance companies' AUM to grow 10-12% in FY23: CRISIL
Source: IANS
14/09/2022 4:49:55 PM
Essar signs Rs 19K cr sale pact with Arcelor Mittal Nippon Steel In one of the largest post-pandemic M&A deals in India, Essar on Friday announced signing definitive agreements with Arcelor Mittal Nippon Steel (AM/NS) for certain Ports and Power infrastructure assets which are primarily captive to Hazira steel plant operations. The deal also envisages a 50-50 Joint Venture partnership, for building a 4 MTPA LNG terminal at Hazira, Gujarat, between Essar and ArcelorMittal. Rewant Ruia, Director, Essar Ports & Terminals Limited, said: "Wit...
Essar signs Rs 19K cr sale pact with Arcelor Mittal Nippon Steel
Essar signs Rs 19K cr sale pact with Arcelor Mittal Nippon Steel
Source: IANS
26/08/2022 5:31:39 PM
Global private wealth management platform, Kristal.AI, triples global AUM, crosses US $1 billion mark in assets under management Mumbai & Singapore – Kristal.AI, a digital-first global private wealth management platform, crossed US $1 billion in Assets under Management (AUM), effectively tripling its global AUM over the last twelve months. After Singapore, India is the second most important market for the company, with the number of active accounts mix in India likely to be at par with direct clients in Singapore by the end of 2022. In the first seven months of 2022, KristaI.AI has grown its user base...
Global private wealth management platform, Kristal.AI, triples global AUM, crosses US $1 billion mark in assets under management
Global private wealth management platform, Kristal.AI, triples global AUM, crosses US $1 billion mark in assets under management
Source: PR Agency
25/08/2022 3:55:01 PM
Equity AUM of mutual funds rises more than 10% on-month in July  After declining for two consecutive months, equity assets under management (AUM) of domestic mutual funds rose 10.3 per cent month-on-month to Rs 15.2 lakh crore in July as market rebounded after three months of decline, according to a Motilal Oswal report. The month saw a decline of sales of equity schemes by 14.3 per cent on-month to Rs 304 billion and the pace of redemptions picked up to Rs 148 billion, up 16 per cent on-month. Consequently, net inflows slowed to Rs 157 billion in...
Equity AUM of mutual funds rises more than 10% on-month in July
Equity AUM of mutual funds rises more than 10% on-month in July
Source: IANS
16/08/2022 1:44:20 PM
Indian fintech market to reach $1tn in AUM, $200 bn in sales by 2030 The Indian fintech market is expected to log 10 times growth to achieve $1 trillion in assets under management (AUM) and $200 billion in revenue by 2030, a new report showed on Tuesday. Much of the growth will be driven in the digital lending market, which is expected to grow to $515 billion in book size by 2030, according to the report by Chiratae Ventures in collaboration with Ernst and Young (EY). India is currently home to 21 fintech unicorns and factors like favourable demographics...
Indian fintech market to reach $1tn in AUM, $200 bn in sales by 2030
Indian fintech market to reach $1tn in AUM, $200 bn in sales by 2030
Source: Dion Global Solutions Ltd
9/08/2022 2:37:47 PM
ICRA revises growth estimate for HFCs to 10-12% for FY23 Domestic rating agency ICRA Ratings has revised the growth estimate for Housing Finance Companies (HFCs) to 10-12 per cent for FY23 from an earlier projection of 9-11 per cent. It noted that the upwards revision of the growth of HFCs was in expectation of a continued improvement in disbursements. It said after witnessing disruptions in the business volumes, because of the second wave of the pandemic, the industry saw a recovery in the disbursements and HFC's portfolio growth rate started ...
ICRA revises growth estimate for HFCs to 10-12% for FY23
ICRA revises growth estimate for HFCs to 10-12% for FY23
Source: Accord Fintech
4/08/2022 1:44:25 PM
`In June, Mutual Fund AUM declined, industry changed sectoral allocation` While the total assets under management (AUM) of the Indian mutual fund industry declined by 4.2 per cent last month, it also saw changes in the sector and stock allocation of the funds, said broking company Motilal Oswal Financial Services Ltd. In its report, Motilal Oswal said, the total AUM for the mutual fund industry declined for the second consecutive month to Rs 35.6 trillion last month - the lowest level since August 2021. The decline was led by AUM for income (Rs 711 billion), ...
`In June, Mutual Fund AUM declined, industry changed sectoral allocation`
`In June, Mutual Fund AUM declined, industry changed sectoral allocation`
Source: IANS
13/07/2022 11:53:54 AM
Bajaj Finance reports 22% growth in deposit book in Q1FY23 Bajaj Finance’s deposit book stood at around Rs 34,100 crore as of June 30, 2022 (Q1FY23) as compared to Rs 27,972 crore as of June 30, 2021, a YoY growth of 22%. The company’s new loans booked during Q1FY23 were 7.4 MM as compared to 4.6 MM in Q1FY22. Customer franchise as of June 30, 2022 stood at 60.3 MM as compared to 50.5 MM as of June 30, 2021. The Company recorded highest ever quarterly increase in its customer franchise of 2.7 MM in Q1FY23. Core assets under management ...
Bajaj Finance reports 22% growth in deposit book in Q1FY23
Bajaj Finance reports 22% growth in deposit book in Q1FY23
Source: Accord Fintech
6/07/2022 11:41:42 AM
NBFC-retail's asset under management likely to grow 5-7% in FY22: ICRA Rating agency ICRA Ratings in its latest report has said that the asset under management (AUM) of non-banking financial companies (retail) is expected to grow 5-7 per cent in fiscal 2022 and 8-10 per cent in fiscal 2023. It said housing finance companies (HFCs) are likely to see their AUM expanding by 8-10 per cent in the current fiscal and 9-11 per cent in the next financial year.  According to the report, within the NBFC-retail segment, personal credit, microfinance and gold loans a...
NBFC-retail's asset under management likely to grow 5-7% in FY22: ICRA
NBFC-retail's asset under management likely to grow 5-7% in FY22: ICRA
Source: Accord Fintech
15/03/2022 12:13:31 PM
Low interest rates to drive home loans growth Decadal low interest rates as well as stable property prices will drive home loan's growth in FY23. As per India Ratings and Research, lowest interest rates seen in decades along with stable property prices and the low impact of the Covid-19's third wave have led to improved affordability for borrowers. "This accompanied with the need for a bigger housing space during the pandemic bodes well for financers to drive the overall assets under management (AUM) growth higher, des...
Low interest rates to drive home loans growth
Low interest rates to drive home loans growth
Source: IANS
26/02/2022 2:31:44 PM
Real estate AUM of non-banks likely to contract further by 5-10% in 2022: ICRA Domestic rating agency ICRA in its latest report has said that the real estate asset under management (AUM) of non-banks (non-banking financial companies and housing finance companies), which registered a de-growth of 10 percent in 2021, is likely to contract further by 5-10 percent in 2022 and stabilize in the next year. It noted that the real estate AUM of non-banks contracted by 17.64 percent to Rs 2.8 lakh crore as of March 2021 from Rs 3.4 lakh crore as of March 2019. According to the...
Real estate AUM of non-banks likely to contract further by 5-10% in 2022: ICRA
Real estate AUM of non-banks likely to contract further by 5-10% in 2022: ICRA
Source: Accord Fintech
15/02/2022 11:54:09 AM
Icra revises AUM growth outlook for retail NBFCs to 5-7% in FY22 Domestic rating agency Icra Ratings said that it has revised the asset under management (AUM) growth outlook of retail non-banking financial companies (NBFCs) to 5-7 per cent for the current fiscal (FY22) from an earlier expectation of 8-10 per cent. In the first half of FY22, retail NBFCs grew by less than one per cent. The agency said the growth outlook would be exposed to downside risk in case of significant disruptions caused by the new wave of infections in Q4 FY22. At present, while ...
Icra revises AUM growth outlook for retail NBFCs to 5-7% in FY22
Icra revises AUM growth outlook for retail NBFCs to 5-7% in FY22
Source: Accord Fintech
21/01/2022 10:35:51 AM
Small finance banks’ AUM growth to improve in current fiscal: ICRA Rating agency ICRA Ratings in its latest report has said that the assets under management (AUM) of the small finance banks (SFBs) are expected to register a marginal improvement in the growth rate to around 20 per cent in FY2022 compared to the growth rate of 18 per cent witnessed in FY2021, though the same would be lower compared to the compound annual growth rate (CAGR) of around 30 per cent during FY2016-FY2020. It stated growth in assets under management of Indian small finance banks i...
Small finance banks’ AUM growth to improve in current fiscal: ICRA
Small finance banks’ AUM growth to improve in current fiscal: ICRA
Source: Accord Fintech
4/01/2022 10:49:22 AM
Global private wealth platform Kristal hits 500 million dollars AUM landmark * #1 wealth manager in the mass affluent & emerging HNI segment. * Partnered with 50+ family offices and wealth managers * UAE is the fourth country of expansion after Singapore, Hong Kong & India * Building a comprehensive wealth management suite for banks & wealth managers * Top investor profiles comprise of CXOs, second-gen business owners and tech entrepreneursv Mumbai : Kristal, a private wealth advisory and investment management platform today said t...
Global private wealth platform Kristal hits 500 million dollars AUM landmark
Global private wealth platform Kristal hits 500 million dollars AUM landmark
Source: PR Agency
18/10/2021 12:07:10 PM
PFRDA pension schemes' subscriber base crosses 4.63 cr in Sep 2021 A healthy rise in corporate sector subscribers took the overall subscription base of various pension schemes regulated by the PFRDA to reach 463 lakh as of September-end 2021. According to the Pension Fund Regulatory and Development Authority (PFRDA), the number of subscribers in various pension schemes rose to 463 lakh, as of September 2021, from 374.33 lakh reported for September 2020, showing a year-on-year (YoY) growth of 23.69 per cent. Besides, the PFRDA data showed a YoY rise of ...
PFRDA pension schemes' subscriber base crosses 4.63 cr in Sep 2021
PFRDA pension schemes' subscriber base crosses 4.63 cr in Sep 2021
Source: IANS
12/10/2021 9:06:24 AM
Asset reconstruction companies may hunt MSME, retail assets as ground shifts Asset reconstruction companies (ARCs) are expected to circle stressed accounts in the micro, small and medium enterprises (MSME) and retail segments in the near-to-medium term, given the twin challenges of inadequate funding access and intensifying competition once the proposed National ARC materialises. ARCs have been facing headwinds since the past two fiscals, with assets under management (AUM) - as measured by security receipts (SRs) outstanding - contracting after a strong run-up in t...
Asset reconstruction companies may hunt MSME, retail assets as ground shifts
Asset reconstruction companies may hunt MSME, retail assets as ground shifts
Source: IANS
14/09/2021 10:28:32 AM
Top Mutual Funds log 8-16% growth in Assets Under Management so far in 2021 The Indian mutual fund space has witnessed an expansion amid the pandemic, with top fund houses having registered growth in the range of 8-16 per cent this year in their assets under management (AUM). The AUM of SBI Mutual Fund, at the end of July, was over Rs 5.53 lakh crore, or 15.5 per cent higher than over Rs 4.79 lakh crore in December 2020. Data from primemfdatabase.com showed that the AUMs of the other major players HDFC Mutual Fund, ICICI Prudential Mutual Fund, Kotak Mahindra M...
Top Mutual Funds log 8-16% growth in Assets Under Management so far in 2021
Top Mutual Funds log 8-16% growth in Assets Under Management so far in 2021
Source: IANS
6/09/2021 9:35:20 AM
`Equity AUM reaches new highs of Rs 11 lakh cr, net inflows rise to Rs 10,500 cr in May 21` The mutual fund sector is finding a major improvement in investor base amid the pandemic with industry's total asset under management (AUM) increasing 2.1 per cent (Rs 70,000 crore) month-on-month (MoM) in May, 2021 to Rs 33,10,000 crore, a report by a brokerage house said on Tuesday. According to the Fund Folio report by Motilal Oswal Financial Services, the increase in MF industry's AUM was primarily led by a MoM increase in AUM of equity funds, other ETF funds, and balanced fund...
`Equity AUM reaches new highs of Rs 11 lakh cr, net inflows rise to Rs 10,500 cr in May 21`
`Equity AUM reaches new highs of Rs 11 lakh cr, net inflows rise to Rs 10,500 cr in May 21`
Source: IANS
15/06/2021 1:51:19 PM
PFRDA`s assets under management cross Rs 6 lakh cr The Pension Fund Regulatory and Development Authority (PFRDA) on Wednesday announced crossing the milestone of Rs 6 lakh crore of Assets Under Management (AUM) under the National Pension System (NPS) and the Atal Pension Yojana (APY), after 13 years. The AUM growth of the last Rs 1 lakh crore has been achieved in just 7 months, PFRDA said. Besides, remarkable growth has been seen in NPS subscribers over the years with 74.10 lakh government employees in the scheme and 28.37 lakh individu...
PFRDA`s assets under management cross Rs 6 lakh cr
PFRDA`s assets under management cross Rs 6 lakh cr
Source: IANS
27/05/2021 9:38:23 AM
Mutual funds` AUM surges 41% to Rs 31 lakh cr in FY21 Assets under management (AUM) of the mutual fund industry witnessed a growth of 41 per cent in the last financial year to touch a new high of Rs 31.4 lakh crore. The growth was primarily led by an increase in AUM of equity funds (Rs 4.09 lakh crore), income funds (Rs 2.39 trillion) and other ETFs (Rs 1.29 lakh crore), said the Fund Folio report from Motilal Oswal Financial Services. Equity AUM, including ELSS and index funds, of domestic mutual funds reached new highs of Rs 10.2 lakh cr...
Mutual funds` AUM surges 41% to Rs 31 lakh cr in FY21
Mutual funds` AUM surges 41% to Rs 31 lakh cr in FY21
Source: IANS
14/04/2021 2:26:32 PM