Mahindra Group and Manulife have incorporated their proposed life insurance joint venture after receiving approval from the Ministry of Corporate Affairs (MCA), the companies said on Monday (June 1). The newly incorporated entity, Mahindra Manulife Insurance Limited (MMIL), will operate as a 50:50 joint venture between the two partners. The incorporation follows the companies’ announcement…
ConsumerX Ventures has launched a SEBI-registered Category II Alternative Investment Fund (AIF) with a target corpus of ₹150 crore to invest in early-stage consumer startups, particularly digitally native and new-age brands. The fund, announced by D2C Insider on June 1, aims to address the funding and support gap faced by consumer-focused startups during the pre-seed…
The West Bengal government is set to launch the first phase of fund transfers under the Annapurna Yojana this week, bringing relief to thousands of women across the state. Under the scheme, eligible beneficiaries will receive a payment of ₹3,000 through Direct Benefit Transfer (DBT). According to Chief Minister Suvendu Adhikari, the transfer process is…
Karur Vysya Bank (KVB) has launched a new premium credit card portfolio on the Visa platform as part of its strategy to strengthen its offerings for affluent and lifestyle-focused customers. The portfolio comprises four variants—Aura (Visa Platinum), Samara (Visa Signature), Altura (Visa Infinite) and Eternis (Visa Infinite). The bank said the cards are aimed at…
Crypto exchange Coinbase has launched direct Indian rupee (INR) deposit and withdrawal services for retail users in India, expanding its presence in one of the world’s largest cryptocurrency markets. The company said Indian customers can now fund and withdraw from their accounts through the Immediate Payment Service (IMPS), enabling direct rupee transactions without relying on…
Gold prices rose on Monday (June 1), supported by elevated geopolitical tensions in the West Asia, while silver edged lower amid broader commodity market volatility. COMEX gold gained 0.83%, or 37.50 points, to $4,570 an ounce. The precious metal advanced as investors monitored developments in the West Asia, where uncertainty surrounding negotiations between the United…
June is going to be a very important month for your wallet. Whether you pay taxes, invest in the stock market, or just use regular digital banking, several major rule changes are taking effect right now. It is time to take a close look at your money and make sure you are following the latest…
Indian equity markets are witnessing a shift driven by sustained domestic inflows, even as valuations in select segments remain elevated amid strong retail participation and steady systematic investment plan (SIP) contributions. Association of Mutual Funds in India (AMFI) note that monthly SIP inflows, which have crossed ₹28,000 crore, are influencing market behaviour by providing consistent…
India’s young investors are now building multi-asset portfolios that combine equity mutual fund SIPs, gold and cryptocurrencies, a shift enabled by wider access through digital platforms and rising exposure to global financial narratives. As participation expands, market participants say the key debate is less about access and more about the role each asset class should…
Mahindra Manulife Mutual Fund has announced the launch of ‘MPOWER SIF’, marking its entry into the newly introduced Specialized Investment Fund (SIF) category notified by the Securities and Exchange Board of India (SEBI). The SIF framework allows fund houses to offer investment strategies beyond conventional mutual fund structures, including long-short strategies, derivatives-based approaches and more…
