The fresh capital will be used to scale product and tech functions and strengthen the leadership team.
Financial sector conglomerate Reliance Capital today reported 10.3 per cent rise in net profit at Rs 235 crore for the third quarter of 2015-16, helped by growth in mutual fund and broking business.
In its first ever acquisition, Reliance Capital Asset Management (RCAM) today announced takeover of global giant Goldman Sachs' mutual fund business in India for Rs 243 crore in an all-cash deal as yet another foreign player exits the Rs 13 lakh crore Indian MF market.
According to Jim O'Neill, former chairman, Goldman Sachs Asset Management, though there was nothing wrong with the Indian Budget, there was no wow factor. He says the Indian market is taking a pause after the massive rally seen over the last 18 months. For further growth, it needs a new catalyst.
Jahangir Aziz, chief economist at JPMorgan credits Rajan's success to the steps taken for inflation targeting. He says this is perhaps India's first big chance of breaking the inflation challenge. However, he cautions that rates at the moment are not high enough to meet FY15 inflation target.
Global investment banker Goldman Sachs is believed to have been chosen for setting up the PSU Exchange Traded Fund (ETF) to help government achieve its disinvestment target.
Tax increases on wealthy Americans and reduced government spending will have a severe impact on economic growth in the United States this year, wiping out the positive effects of a revival in the housing market and cheaper energy, Nouriel Roubini told CNBC on Friday.
This week the government stepped up its divestment drive by offering a 4 % stake in Hindustan Copper. NTPC, Oil India and NMDC are likely to be next. The government will most likely use the well accepted OFS or Offer For Sale route.
The "new China" is poised to become a knowledge economy, where growth stems from the innovation and ingenuity of its workers, rather than the brawn that powered the country's export-led manufacturing transformation, according to Jim O'Neill, chairman at Goldman Sachs Asset Management.
While there are plenty of risks to an economic recovery, the start of 2012 is nothing like the 2008-2009 crisis, Jim O`Neill, Chairman at Goldman Sachs Asset Management told CNBC.
Going into the festive season in India, Sanjiv Shah, managing director of Goldman Sachs AMC believes that people will prefer investing in gold exchange traded funds (ETFs) as compared to physical and jewellery.
Greek will keep moving closer to default unless European Union policymakers stop sparring in public about its debt crisis, Jim O'Neill, chairman of Goldman Sachs Asset Management, said on Friday.
Goldman Sachs Asset Management likes shares in Indian industrials and is tipping domestically-oriented sectors to start outperforming again on expectations that inflation will peak in coming months.
In an interview with CNBC-TV18, Sanjiv Shah, ED of Benchmark Asset Management said, "We believe with the Goldman franchise, we can really take the ETF business to a much greater scale."
CNBC's Rebecca Meehan caught up with Jim O'Neill of Goldman Sachs Asset Management on got his outlook for emerging markets going ahead and how the Egypt crisis has left a huge dent in investor sentiment.
Emerging markets will continue to attract investors despite serious threats such as inflation and investors turning to developed markets, as the search for yields will draw them back, a director at Goldman Sachs Asset Management said.