"'… a system that is efficient but is exclusive does not serve the...
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Fund raising from capital markets to jump 21% to Rs 14.27 trn in FY25: Buch
Buch said in the past nine months of the current fiscal, entities...
FPIs withdraw Rs 22,194 crore in Jan amid weak earnings outlook, rising dollar
This exodus of foreign money from the Indian markets could be...
Number of ultra HNIs in India up 11% in 2021 at 13,637: Report
"In India, the number of UHNWIs (net assets with USD 30 million or more) has grown by 11 per cent YoY (year-on-year) in 2021, the highest percentage growth in APAC," Knight Frank said in a statement. The number of UHNWIs in India grew to 13,637 in 2021 from 12,287 in...
Ukraine Invasion: Russia’s ultra-rich count cost of $83 bn wealth wipeout
Russia’s $1.5 trillion economy is already reeling from sanctions that targeted key banks and may prevent Putin from accessing the bulk of more than $640 billion in central bank reserves. Those restrictions have roiled the nation’s markets and are having a knock-on...
Government allows up to 20 per cent FDI in LIC under automatic route
Under current rules, foreign investment is not allowed in the LIC, governed by the special parliament act, while 74% foreign direct investment is allowed in other private insurance companies NEW DELHI: India's cabinet approved on Saturday a policy amendment allowing...
Investors’ wealth jumps over Rs 7.7 trn as Sensex snaps 7-day losing streak
"Global markets including Indian equities witnessed a smart pull back after yesterday's crash as the new sanction imposed by US and UK appeared to be less severe for the Russian economy," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services...
Cabinet likely to consider proposal for FDI in IPO-bound LIC on Saturday
As per Sebi rules, both FPI and FDI are permitted under public offer. However, since the LIC Act has no provision for foreign investments, there is a need to align the proposed LIC IPO with Sebi norms regarding foreign investor participation New Delhi: The Union...
Insurer AIA Group sells Australian savings and investments business
AIA did not disclose a deal value for the sale, but said the business holds about A$8 billion ($5.77 billion) in funds under administration. The Australian savings and investment business, which offers superannuation and retirement products, was acquired by AIA...
Lot of buzz, interest in market for LIC IPO: Sitharaman
Finance Minister Nirmala Sitharaman ''Now that DRHP (for LIC IPO) is out, there is a buzz and a lot of interest in the market. I am glad the way in which it is crafted where shareholders also have a role to play. The way it has been crafted has created a lot of...
Potential investors in India LIC’s giant IPO fret over govt control of insurer -sources
How effectively LIC and its investment bankers are able to address the investor concerns will help in determining the insurer's valuation in the float, and consequently the state of finances of the Indian government which is banking on proceeds from the IPO to plug an...
Watching geo-political situation carefully, keen on listing in March: LIC chief
The LIC public issue would be the biggest IPO in the history of the Indian stock market. Once listed, LIC's market valuation would be comparable to top companies like RIL and TCS Mumbai: Amid volatility in stock markets generated by tension between Russia and the US...
LIC wants to remain IDBI Bank shareholder for bancassurance gain
M R Kumar,chairperson,LIC Elaborating on bancassurance channel, Kumar said LIC has distribution tie up with 58,000 branches of different banks. There is still a lot of scope and headroom for growth on that front, he said adding that the corporation will also be keen...