BUSINESS
Edelweiss MF removes subscription limit on IPO fund
In its official note, the fund stated that "with the equity markets having corrected since last month, some quality businesses in the recently listed IPO universe are seeing meaningful correction and are now available at attractive valuations".
BUSINESS
ICICI Lombard, Airtel Payments Bank partner to offer smartphone insurance
The mobile phone insurance market is poised for growth, expected to reach about $76.1 billion by 2030, with the Asia-Pacific region manifesting the fastest CAGR in this sector, per a report by Allied Market Research.
BUSINESS
Absurd, Harsh, Regressive: What crypto industry has to say on proposed taxation treatment
On March 21, the government clarified that losses incurred in the transfer of one VDA (virtual digital assets) i.e. crypto-assets cannot be set off against income generated against another VDA, a move that has been termed as detrimental for the Indian crypto industry
BUSINESS
Inflection Point Ventures to launch $50-million VC fund
The broader objective of this fund will entail building a portfolio of about 15-20 startups that have an average ticket size of at least $2.5 million, ranging from sectors such as vertical commerce, consumer tech, social/content creator, B2B SaaS, and Enterprise tech.
BUSINESS
Leverage Edu raises $22 million in Series B at valuation of $120 million
This fundraising round saw participation from various investors like Kaizenvest Private Equity, DSP Mutual Fund Group, Artha Ventures, UAE-based NB Ventures, 9Unicorns; plus returning funds like Blume Ventures, DSG Consumer Partners, and Tomorrow Capital, among others.
BUSINESS
CAMS partners with NPS as one of its Central Record-Keeping Agencies
CRA serves as a bridge or an operational interface between PFRDA and other NPS intermediaries such as Pension Fund Managers, Annuity Service Providers, Trustee Bank, etc. Notably, CDSL and K-Fin continue to serve as the existing CRAs of NPS.
BUSINESS
Explained | US President Biden's executive order on digital assets, cryptocurrencies
It was hard to mask the gravity and exigency the current administration has accorded to the development of the digital sovereign currency, an arena that already has over 100 countries actively researching, experimenting, and in some cases, even full-fledgedly implementing native CBDCs for mass adoption.
BUSINESS
How Better got Worse: Employees in India recount their harrowing experience during the second mass-layoff
The callousness in the way Better deals with employees has stunned and angered many. After laying off 900 employees over a shocking Zoom call by founder Vishal Garg just before Christmas, digital mortgage company Better.com decided to do the honors again, this time by sacking people starting on Women's Day.
BUSINESS
AMFI sees uptick in February equity inflows; SIP contributions dip marginally
Large Cap funds also marked a positive money inflow for the month of February 2022, rising to Rs 2,338.58 crores from about Rs 1,890.24 crores in January 2022.
BUSINESS
Basis: Harnessing the power of sisterhood, education and community in finance
While they describe themselves as the “bridges of knowledge and trust gaps women often encounter while making and taking actions on financial decisions”, their ambition is to target and reach over 5 million users over the next three years.
BUSINESS
In a man’s world, all you need to succeed is consistency towards your financial goal: Reshma Banda, Bajaj Allianz Life
Passion, consistency and never losing sight of her goal, along with her habit of regularly saving a portion of her income and maintaining consistent investments in equity- that has been the secret to Reshma Banda’s personal and professional success.
BUSINESS
Micro-loans play a huge role in transforming economic lives of rural women”: Sunaina Da Cunha of Aditya Birla Sun Life AMC
Digitization, Micro-Finance, and the increased flexibility offered by the evolving nature of hybrid, remote work are major factors in positively pushing female economic participation, notes Da Cunha.
BUSINESS
This fund manager is an equal money manager at her home
Poonam Tandon, Chief Investment Officer - IndiaFirst Life Insurance Co. Ltd, has fought perceptions all her life. Like at a time in the early 2000s when she thought that gold prices had bottomed out. But being a woman, her views were seen as biased and discounted. She proved them wrong.
BUSINESS
MF sector sees rise in number of women fund managers, finds Morningstar
The Assets Under Management held by the Indian mutual fund industry stood at Rs 38.01 lakh crore, with the average AUM of Rs 38.89 lakh crore. Out of this, women manage about 12 percent, or about Rs 4.55 crore worth of assets
BUSINESS
The Chicken and the Pig: BharatPe saga puts spotlight on investor-founder relations
In a Twitter Spaces show hosted by Moneycontrol's Priyanka Sahay and M Sriram, serial entrepreneur and investor K Ganesh, BigBasket HR Head TN Hari, and Again Drinks founder K Vaitheeswaran weighed in on the role of investors and board in this precarious situation.
BUSINESS
A long protracted legal battle ahead for BharatPe and Ashneer Grover, lawyers say
In all, around 1.4 percent of Ashneer Grover’s total 9.5 percent equity can be taken back, as per the shareholder agreement. For the rest of it, other legal action and recourse would have to be initiated. Add to that the serious allegations of financial fraud levelled against Grover, and this is where the whole resignation versus termination debate turns murky.
BUSINESS
Boardroom battle | A 10-point summary of latest developments in Ashneer Grover-BharatPe saga
Grover tendered his resignation in a tersely worded letter, where he noted that he and his family were being “vilified and treated in the most disgraceful manner”.
BUSINESS
February UPI transactions register a dip in value, volume terms
The numbers are lower than the robust figures for January, when the number of total transactions came in at 461 crore and the aggregate value of all transactions was Rs 8.31 lakh crore
BUSINESS
Sovereign Gold Bond Scheme 2021-22 Series X opens for subscription today. Here's all you need to know
The tenor of the bond is eight years with an exit option after the fifth year.
BUSINESS
Market Voices: Experts chip in on price dips as global markets experience carnage
Entrepreneur Ankur Warikoo also observed how such market dips were more so a test of your integrity, commitment, and dedication to your financial health. Periodic, impermanent dips in your investment value should not rattle you, but rather encourage you to understand the dynamics of the market and know the reasons better. That will help you visualize your bigger financial dream.
BUSINESS
Cryptocurrency taxation ‘sovereign right’: FM Nirmala Sitharaman
Nothing has been done, at the moment, to legalise, ban or de-legalise cryptocurrency in India, FM Nirmala Sitharaman said.
BUSINESS
AMFI Monthly Data: Fewer NFOs in January drive equity inflows down to Rs 14,887.77 crore
For the first time in history, the number of SIP accounts crossed 5 crore, with new SIPs generated during the month standing at 26.51 lakh. The growth is noticeable and evident, given that the total SIP accounts for the month of December 2021 were 4.98 crore.
BUSINESS
The Bitfinex Crypto Heist: All you need to know about the scamster couple
The modus operandi was simple, per the prosecutors. This included opening accounts under false aliases, moving stolen funds in small sums but in a high volume of transactions to escape detection. To automate these transactions, computers were employed with the funds spread across numerous virtual currency exchanges. All of these illegal activities were obscured under the veil of US business accounts of their startups
BUSINESS
Ukraine volunteer groups turn to bitcoin crowdfunding for the country’s military and logistics as Russian invasion looms
Kyiv-based NGO Myrotvotrets Center has raised around $2,67,000 via more than 100 bitcoin donations.
