AU Small Finance Bank partners Star Health and Bajaj Allianz Life Insurance
Mumbai: AU Small Finance Bank has entered into two distribution partnerships with two insurance companies – Bajaj Allianz Life Insurance and Star Health and Allied Insurance.  

RBI approves reappointment of Sandeep Bakhshi as MD & CEO of ICICI Bank Limited
ICICI Bank Limited on Monday said that it has received Reserve Bank of India's (RBI) nod to reappoint Sandeep Bakhshi as Managing Director and CEO, said the lender through its exchange filing.

Positive outlook for HDFC Life; insurance sector aims for 13-15% growth in new premiums
During our discussions at the Jefferies Asia Forum, the management team of HDFC Life (including the CEO, EDCFO, and IR) emphasised the positive progress of their bancassurance partnership with HDFC Bank. They highlighted that there is a closer alignment between the two organisations at both the top management level and among the street-level teams. This alignment can increase HDFC Life’s share in HDFC Bank from 56% in FY23 to 70% by the end of FY23 (upon exit). This development will contribute to 15-17% growth in APE (annualised premium equivalent) and 20% increase in FY25.

SBI General Insurance’s new health cover to offer unlimited `refills’
Mumbai:SBI General Insurance has launched a health insurance plan where the policyholder can 'refill' the sum insured if a claim uses it up. The plan also allows policyholders to obtain 3x insurance coverage for severe illnesses through a 'multiplier.'

State-owned IREDA files draft papers with Sebi
State-run Indian Renewable Energy Development Agency (IREDA) has filed preliminary papers with markets regulator Sebi to raise funds through an Initial Public Offering (IPO).This is the third time that the state-owned company has filed its IPO papers and is proposing to take the firm public after two failed attempts in 2017 and 2019 in the backdrop of unfavourable market conditions.The IPO consists of a fresh issue of up to 40.31 crore equity shares and an Offer For Sale (OFS) of up to 26.88 crore equity shares by the President of India, acting through the Ministry of New and Renewable Energy, Government of India, according to the Draft Red Herring Prospectus (DRHP) that was filed on Thursday.

August equity MF inflows cross ₹20K cr to hit 5-month high
New Delhi : Equity mutual funds attracted net inflows of ₹20,133.3 crore in August, the highest in five months, up 168.25% over July, according to latest data from the Association of Mutual Funds in India (Amfi).

Mutual fund SIPs touch record high in Aug, RBI's CRR move impacts debt AUMs: AMFI
Mumbai: Investors poured in a record Rs 15,813 crore in August through systematic investments plans (SIPs) route offered by mutual fund players, an industry body said on Monday. The Association of Mutual Funds in India (Amfi) also said there was a net outflow of Rs 25,872 crore from the income or debt oriented schemes in August.

MF equity inflows hit a 5-month high on fall in market valuation
Mumbai: Inflows into equity schemes have hit a 5-month high of ₹20,246 crore in August against ₹7,626 crore in July as investors pumped in more money with marginal fall in equity valuations. Moreover, six new fund offers had raised ₹5,002 crore through equity schemes last month, according to the Association of Mutual Funds in India data released on Monday.

The Rs 100-trillion MF opportunity
It all started about six decades ago when the Unit Trust of India launched the Unit Scheme-1964 scheme or US 64 as it was popularly known. UTI held sway over the mutual funds market for nearly 25 years thereafter before the space was thrown open to other state-owned players. But even after the private sector was allowed entry it took until May, 2014 for the average assets under management (AAUM) to hit the Rs 10-trillion mark. That had probably less to do with the chequered career of US 64 than the low levels of awareness of the stock market. However, over the last decade the value of assets has soared, crossing Rs 46 trillion in July; in the last three years, the industry clocked in a compounded annual growth rate of nearly 20%. Now, given how fast folios are being added and how the stock market is booming, the Rs 50 trillion mark seems just round the corner.

List of equity mutual funds that beat their market benchmarks regularly
In the past year, as the markets have been rocked by unabating volatility, equity diversified funds have proved their mettle. They have efficiently managed the ups and downs caused by factors such as higher interest rates, rupee depreciation, sticky inflation rate, weak global demand, higher valuations and geopolitical issues. Despite the high volatility, 78 out of 149 equity diversified funds have delivered returns higher than their benchmarks on a point-to-point basis. In other words, 52.4% of such funds have generated positive excess returns (fund return, minus the benchmark return). The beta statistic also reveals the ability of such funds in handling volatility.

Axis Mutual Fund unveils its campaign #SochaSamjhaRisk
Axis Mutual Fund has launched of its new advertising campaign #SochaSamjhaRisk. As per the company, the 360-degree campaign is aimed at encouraging investors to understand individual risk appetites with the help of a risk profiler.

Kedaara pours $229 mn into SaaS firm Perfios
New Delhi : Mumbai-based private equity firm Kedaara Capital is investing $229 million (around ₹1,900 crore) in fintech-focussed software-as-a-service (SaaS) company Perfios Software Solutions.

Edelweiss Alternatives to raise $500-million climate fund
Edelweiss Alternatives, part of Edelweiss group, on Monday said it has launched its maiden climate fund, which will invest in different ventures related to cleaner climate. The fund will have a corpus of $500 million (Rs 4,150 crore) and a tenure of 10-12 years.

72% of India’s super rich derive wealth from equity markets
Chennai: The sharp rally in equity markets since March 2020 appears to have helped the affluent not just in India, but in other countries as well. In the last three years, until May 2023, a whopping 84 per cent of them noted a growth in their net wealth. This is according to Bloomberg’s Global Wealth Blueprint, which was released recently.

Latest Sovereign Gold Bond tranche open for subscription; Where to buy these bonds, how to invest in SGB online

The Reserve Bank of India (RBI) has launched the new tranche of Sovereign Gold Bond (SGB). The subscription period for SGB Series II will run from September 11–15, 2023. The nominal value of the bond is calculated as Rs 5,923 per gram.