PGIM India Mutual Fund has temporarily suspended fresh Systematic Investment Plan (SIP) registrations in three of its international fund of funds from July 9, citing regulatory limits on overseas investments. The move applies to fresh SIP registrations in PGIM India Global Equity Opportunities Fund of Fund, PGIM India Emerging Markets Equity Fund of Fund, and…
For India’s youngest borrowers, the first credit card is no longer the first step into credit. Seven out of 10 Gen Z consumers had already used some form of credit such as a loan, Buy Now Pay Later (BNPL) service or an EMI plan before getting their first credit card, according to TransUnion CIBIL’s Beyond…
The 8th Central Pay Commission (CPC) will hold stakeholder consultations in Kolkata on July 9 and 10 as it continues gathering feedback from employee unions, pensioner bodies and government organisations before finalising its recommendations on salaries, allowances and pensions for central government employees. The Kolkata meetings follow a similar round of discussions held in Bhubaneswar,…
Sundaram Alternates has announced the final close of its Performing Credit Opportunities Fund (PCOF) – Series I at ₹1,200 crore. The Category II Alternative Investment Fund (AIF), which focuses on senior secured private credit investments, has already deployed more than 85% of the capital raised across a diversified portfolio, the company said. According to Sundaram…
Nuvama and Cushman & Wakefield Management (NCW) has announced the final close of its PRIME Offices Fund at approximately ₹4,000 crore, exceeding its original target corpus of ₹3,000 crore by around 33%. The company said the increase in the fund size was driven by investor demand and deployment opportunities in India’s institutional commercial office market….
Groww Mutual Fund has launched the Groww Nifty Cement ETF, an open-ended exchange-traded fund (ETF) that aims to track the performance of the Nifty Cement Index–Total Return Index (TRI), subject to tracking error. The new fund offer (NFO) opened for subscription on July 8 and will remain open until July 22. The ETF follows a…
Kotak Mahindra Asset Management Company (KMAMC) has launched the Kotak Nifty Private Bank ETF, a passively managed exchange-traded fund that aims to track the Nifty Private Bank Index. The new fund offer (NFO) opened for subscription on July 8 and will close on July 15. The ETF follows a passive investment strategy and seeks to…
The government has started the process of crediting 8.25% interest on Employees’ Provident Fund (EPF) deposits for FY2025-26, with over ₹1.44 lakh crore set to be credited to around 34 crore EPFO member accounts by July 15, Union Labour and Employment Minister Mansukh Mandaviya said on Wednesday (July 8). The announcement comes after the Centre…
India’s consumer credit market is entering a new phase of evolution. After a decade of rapid expansion driven by adding millions of first-time borrowers, the next stage of growth is about winning a larger share of an existing customer’s wallet. A new research report by TransUnion CIBIL, Beyond the Swipe, suggests the role of credit…
The Reserve Bank of India (RBI) should revise loan limits for home and education loans under the Priority Sector Lending (PSL) framework to reflect rising property prices and education costs, according to a new SBI Research report, which has also called for a comprehensive review of the nearly five-decade-old lending norms. The recommendations come months…
