Reliance Capital lenders urge Hinduja Group arm to stick to resolution plan deadline
RCap lenders seek upfront Rs 9,650 crore cash payment at the earliest

Health secy Chandra urges states, UTs to link ABHA IDs with health portals
 

Tata AIA unveils #VoteKarneKoTaiyaar social media campaign to motivate young Indians to vote
Tata AIA Life Insurance Co Ltd (Tata AIA), Tata AIA, an insurance company in India, has introduced a social media campaign titled #VoteKarneKoTaiyaar. 

Cholamandalam MS General posts PBT of ₹444 crore in FY24
Chennai: Cholamandalam MS General Insurance Co Ltd (Chola MS), a joint venture between the Murugappa Group and the Mitsui Sumitomo Group (Japan) has reported a profit before tax (PBT) of ₹444 crore as compared with ₹264 crore in the previous year.

Your Money: Opt for deductibles to trim premium
While many realise the need to buy a health insurance policy, they also seek ways to save on the cost of premiums. Insurers offer several means to reduce the cost of health insurance for customers. One of those ways is deductibles. If you need to trim down your premium without jeopardising your coverage, the wiser approach is to consider opting for a deductible within your personal health insurance plan.

Will senior citizens easily get health insurance now?
Insurance companies can no longer refuse to sell health cover to citizens above the age of 65 years. However, for a senior citizen buying insurance for the first-time, it will still not be easy due to the high premiums and the need for a medical check-up for all pre-existing conditions, explains Saikat Neogi

Door opens for senior citizens to get health insurance: What they should do

Implications for the elderly

Pension scheme for unorganised sector logs 5 mn subscribers in 5 years

The data collected from the Maandhan portal shows that the pension scheme crossed the five million subscriber mark in April 2024. While 4.3 million people had joined the scheme in financial year 20, merely 130,000 people had joined the scheme in financial year 21, followed by 161,000 subscribers in the subsequent financial year. Close to 255,000 people had exited the scheme in financial year 22, thus further deteriorating the subscriber base, and added nearly 600,000 subscribers in financial year 24.

MFs close in gap with bank deposit on back of strong growth, new investor addition
Mumbai: Thanks to uninterrupted bull run and renewed interest in equity investment, the quantum of assets under management of the mutual fund industry accounts for 26 per cent of the bank deposit as of March-end against 21 per cent logged in FY23.

Fund Pick: Nippon India Large Cap Fund leads from the front, says CRISIL
Mumbai: Nippon India Large Cap Fund, launched in August 2007, featured in the top 30th percentile of the largecap funds category of CRISIL Mutual Funds Ranking (CMFR) for the three consecutive quarters through March 2024. The fund’s month-end assets under management (AUM) increased from Rs 10,069 crore in March 2021 to Rs 24,378 crore in March 2024. 

UTI Asset Management Company Q4 Results Live : profit rise by 97.43% YOY
 

MFs plan to oppose Embassy REIT’s proposal to raise ₹3,000 cr
 

‘Some parts of market little overvalued, rest is at very good valuation’: Swarup Anand Mohanty
Swarup Anand Mohanty, Vice Chairman & CEO, Mirae Asset Investment Managers, the Indian arm of Mirae Asset of South Korea, says some parts (of the stock market) may be a little overvalued but enough companies are available at great prices for a fund manager to build a portfolio. In an interview to Hitesh Vyas & George Mathew, Mohanty, who manages assets worth Rs 1.61 lakh crore, says, “there is a shift (of money) to financial assets. But not at the cost of the banks. Maybe people have realised that this (financial asset) is a good area for investing.”

Equity fund managers to get sky-high bonuses amid stellar asset growth
Mutual fund houses are likely to dole out higher bonuses and increments this year in a bid to retain and reward top performers. Equity fund managers will be in the spotlight given the fast clip at which assets have grown in the past year, especially for the mid- and small-cap schemes. The managers may pocket bonuses in the range of 80-100 per cent of annual salary, on average, much higher than previous years.

Entrepreneurial bug bites top VC bosses
Peak XV Partners’ managing director Piyush Gupta, recently put in his papers. Earlier during the month, Abhishek Nag and Vaibhav Agrawal quit Lightspeed Venture Partners. In March, Nexus MD Sameer Brij Verma quit after a 13-year stint at the firm.

FPIs selling in equities continue unabated in April, withdrawing ₹6,300 crore till April 26
Foreign Portfolio Investors (FPIs) remained bearish on Indian equities going by the net outflows of ₹6,300 crore so far this month (till April 26) amid concerns around Mauritius Tax Treaty and US Bond Yield surge. 

Everstone Capital returned $345mn to LPs last year

Everstone Capital is the private equity business of Everstone Group that focuses on investments in India and Southeast Asia. The firm booked an exit from IT services company Everise in October by selling its stake to Warbug Pincus, where the latter's invest-ment valued Everise at $1 billion. Everstone also sold its entire stake in India's Servion Global Solutions to UK-based private equity fund EMK Capital. Besides these exits, Everstone Capital also invested in several companies last year including Media Mint,which focuses on out-sourcing of ad and media operations of global agencies, and IT company C-prime. The firm is currently investing from its fourth fund of $300 million, which was raised as an interim fund. Mehra added that the fund usually looks to make two to three investments a year of $100 million each, besides the co-invest capital. "Typically for every dollar we invest of our own capital, we are able to generate at least $1 of co-invest. So if we do that, then we should be able to get $400-600 million deployed," he said. Ever-stone Capital, which primarily invests in mid-market companies making Rs.100-200 core of Ebitda, is now looking to raise about $1 billion for its fifth fund that aims to make eight to 10 deals of about $ 100-million each. The focus for the new fund will continue to be healthcare, manufacturing and IT BPO companies Within IT, the firm looks to focus on areas such as data engineering and product engineering, while in the healthcare space, the focus will be on medical devices. The fund already has a major manufacturer of cardiac devices and implants, Translumina, in its portfolio. In the private equity space in India,Mehra said, buy outs or controlled deals have increased significantly and are now about 40% of the market by value. Control deals are where a PE firm acquires a majority stake in a company and works along with the promoters or management to further build the business. "I think that's an encouraging trend and it's spurred by generation change; he added. 

PEs drive up value even as volumes dip
 

RBNZ Says Insurance May Become Unaffordable for High-Risk Homes
 New Zealanders who own properties in areas prone to flooding or earthquakes may find they can’t afford insurance or may not be offered cover for specific risks, according to the Reserve Bank.