RBI grants approvals for Bain Capital's joint control in Manappuram Finance
Manappuram Finance on Wednesday said it has secured all requisite statutory approvals for Bain Capital’s proposed investment of around ₹4,385 crore and the acquisition of joint control alongside existing promoters.

India needs bigger banks, consolidation for $30 trn goal: Former RBI DG
 

RBI to infuse ₹75,000 crore via three-day VRR auction as liquidity tightens
 

Need more consolidation in financial services industry: Former RBI DG Rao
India needs greater consolidation in the financial services industry to achieve its growth targets, said Rajeshwar Rao, former deputy governor of the Reserve Bank of India.

HDFC Bank chair Atanu Chakraborty resigns citing ‘certain practices’ incongruent with his values
HDFC Bank on Wednesday said its chairman Atanu Chakraborty has resigned with immediate effect, with his letter from 17 March to the board citing “certain happenings and practices within the bank” that were “not in congruence” with his personal values and ethics.

SBI-led secured lenders move SC for claims from ₹5,100 cr deposited by Sterling Biotech
A consortium of secured lenders including banks of Sterling Biotech Ltd of promoters Chetan and Nitin Sandesara has moved the Supreme Court for disbursal of their claim amounts from Rs 5,100 crore deposited in the apex court registry while highlighting their total outstanding against the Group companies was at Rs 19,283.77 crore.

Axis Bank to infuse ₹1,500 cr into Axis Finance after RBI's approval
 

Why did HDFC Bank’s Atanu Chakaborty resign? Letter cites ethtical concerns, Keki Mistry appointed interim head
HDFC Bank said late on Wednesday its part-time Chairman Atanu Chakraborty has resigned citing differences with the lender over “values and ethics”, sending its U.S.-listed shares sharply lower. “Certain happenings and practices ⁠within ​the bank, that I have observed over last two years, are not in congruence with my personal values and ethics,” Chakraborty ​said in ​his resignation letter, without elaborating.

Standard Chartered reviews bids from Kotak, Federal Bank for India credit card portfolio
Mtandard Chartered is reviewing offers from Kotak Mahindra Bank and Federal Bank to ​acquire the British lender's up to 600,000 customers in India who only ⁠have credit card accounts, two sources with knowledge of the matter said.

Bank of Japan interest rate decision on Thursday: Can BOJ lift rates further? How could it impact Indian stock market?
Against the backdrop of a full-scale war in the Middle East, rising crude oil prices, and increasing risks of an inflation flare-up, the Bank of Japan (BoJ) will announce its interest rate decision on Thursday, March 19. Several other central banks, including the US Federal Reserve and the Bank of England (BoE), will announce their policy decisions this week.

India’s tech hiring is changing: Bank of America says pivot toward high-value roles
Artificial intelligence is not pushing multinational corporations away from India’s technology workforce. Instead, it is increasing their presence in the country while changing the kind of work they move here and the roles they hire for, according to a research note on India’s technology sector by Bank of America Securities, the institutional securities and investment banking arm of Bank of America, one of the largest financial institutions in the United States.

SIDBI, FITT-IIT Delhi back Indigotex to scale sustainable denim innovation
 

SBI cashback card cuts monthly cap to Rs 4,000 from April 1: What changes
 

Adar Poonawalla, Abler Nordic continue investing in Svasti Microfinance
Svasti Microfinance (Svasti) raised ₹47.5 crore from Adar Poonawalla, Abler Nordic, and the Rajiv Dadlani Group through a combination of equity and subordinated debt.  They are the core investor group and have returned to support the microfinance company again. Poonawalla had previously participated in a round in 2021. Poonawalla, along with the Nordic Microfinance Initiative and the Rajiv Dadlani Group, invested ₹31 crore in Svasti. In 2023, Svasti raised an additional ₹40 crore from Abler Nordic and seven high-net-worth individuals.

Arohan to file for Rs 1,500 crore IPO by month-end
Mumbai: Despite the jittery markets, the Kolkata-based microfinance institution (MFI) Arohan Financial Services is set to hit the capital markets with a Rs 1,500-crore issue and will be filing the papers with the regulator Sebi by the end of the month.

BlackSoil Capital raises ₹200 cr from Impact Fund Denmark for climate lending
Mumbai-based alternate credit platform, BlackSoil Capital has raised ₹200 crore in debt funding from Impact Fund Denmark to expand climate-focused and inclusive lending in India

Finkurve Financial Services Limited (Arvog) Crosses Rs. 1,035 Crore+ AUM Milestone
Mumbai (Maharashtra) [India]: Finkurve Financial Services Limited (BSE:508954), a leading tech-first Gold Loan NBFC, announced that the company has crossed ₹1,035 crore+ in Assets Under Management (AUM), a nearly 10x surge compared to FY23, marking a significant milestone in its growth trajectory within India’s secured lending ecosystem.

Shriram Finance rises on report RBI is not mulling leadership curbs for non-bank lenders
Indian non-bank lenders Shriram Finance and Bajaj Finance rise ​as much as 2.4 ‌per cent and 2.9 per cent, while shadow lenders such ​as LIC Housing ⁠Finance, Muthoot Finance and Jio Financial gain 0.5 per cent to 2.5 per cent.

Is PhonePe's IPO pause a calculated move or a valuation-driven decision? Explained
On the operational front, PhonePe has achieved free cash flow positivity, producing over ₹1,200 crore in operating cash flow, which reduces any pressure to secure capital for survival.

RNFI, Jio Payments Bank roll out cardless cash withdrawals via UPI QR
 

Sebi says 111 stockbrokers have settled algo trading case by paying Rs 1 lakh each
Mumbai: As many as 111 brokers of the 120 who were issued show-cause notices for alleged violation of algo trading rules have chosen to go for settlement with the markets regulator Sebi.

Aditya Birla Sun Life AMC introduces SIF offering
SIF (Specialised Investment Funds) provide a flexible, regulated investment structure with a ₹10 lakh minimum investment, that combines equity, debt and derivative strategies for investors considering diversified SIF investment options, depending on market conditions.

Equity mutual fund investors hold steady despite market correction
 

Edelweiss MF launches first hybrid passive index fund. Should you invest?
 

Top Nippon India fund: This equity scheme clocks over 20% CAGR in 15 years, multiplies wealth 16 times
In a market where consistency is rare, Nippon India Small Cap Fund has stood out by delivering strong long-term returns across market cycles. The fund, launched in September 2010, has completed nearly 15 years of market journey and has emerged as one of the top performers in the small-cap mutual fund category. Data shows that the scheme has consistently delivered over 20% CAGR across 10 and 15 years, making it one of the best-performing funds in its category over the long term. For investors who stayed invested through market ups and downs, the wealth creation has been significant.

Equities take a breather for 3rd straight day
Short covering and no major aggravation in the West Asia geopolitical issue made Indian equities heave a sigh of relief on Wednesday, making the market inch higher for the third straight session. However, some experts believe that it is still too early to say if the market has bottomed out, given the uncertainty on when the war will come to an end. 

Indian Bank, NaBFID to raise ₹8,000 crore via bonds by March
Indian Bank and National Bank for Financing ​Infrastructure and Development (NaBFID) plan to raise a combined ₹8000 ‌crore ($864.10 million) from the corporate bond market ​by March, two bankers with knowledge ⁠of the matter said on Wednesday.

SGB Series IV investors get 312% returns as RBI sets exit price for bonds

Delhi: Investors in the Sovereign Gold Bond (SGB) 2019–20 Series IV are set for significant gains after the Reserve Bank of India (RBI) fixed the premature redemption price at Rs 15,814 per gram. For those who purchased online at Rs 3,840 per gram, this represents a 312 per cent return on principal — turning a Rs 1 lakh investment into approximately Rs 4.12 lakh, excluding the 2.5 per cent annual interest.

ARCL facilitates ₹10.5 lakh crore funding via tri-party repo in corporate bonds
 

Fed holds rates steady, flags inflation risks amid US–Iran conflict uncertainty
The U.S. central bank held interest rates steady on Wednesday and projected higher inflation, steady unemployment and a single reduction in borrowing ‌costs this year, a path that Federal Reserve Chair Jerome Powell said was subject to unusually high ​uncertainty as policymakers take stock of the impact of the U.S. and Israeli war with Iran.

Jerome Powell says he will stay Fed chair until successor is confirmed
Federal Reserve Chair Jerome Powell said ​on Wednesday he'll stick around as head of the ‌U.S. central bank until his successor is confirmed, and ​will not leave the institution until a criminal ⁠investigation into the Fed is resolved. "If my successor is not confirmed by the end of my term as chair, I would ‌serve as chair pro-tem" until that's resolved, Powell said in a press conference following the end ‌of the Fed's latest two-day policy meeting. He said ‌that ⁠is what "the law calls for" and "that's what we've ⁠done on several occasions, including involving me, and that's what we're going to do in this situation."