Pool Financial News

Mint looks into the details and implications. As per markets regulator Securities and Exchange Board of India, AIFs are privately pooled investment vehicles comprising funds from sophisticated investors. RBI’s new regulation is an example of collaboration between Sebi and the central bank.

RBI has closed a loophole in the discovery of dodgy loans by pulling bank lending out of investment pools that also feed the same borrowers. This is a genuine regulatory concern, voiced by Sebi, given the ballooning flow of capital through alternative investment funds (AIFs). RBI's directive to banks and NBFCs to liquidate their investments in AIFs that invest in their debtor companies is informed by previous instances of evergreening bad loans through shadow lending.

real estate investment with limited capital has come to the forefront. As property prices surge in both commercial and residential sectors, a positive trend emerges—investing in real estate becomes more attainable, even with modest funds.

Indian Institute of Entrepreneurship has been assigned the responsibility of establishing Entrepreneurship Development Centers in all the 104 government Industrial Training Institutes (ITI) and three National Skill Training Institutes (NSTI) of the Northeastern Region by the Ministry of Skill Development and Entrepreneurship under the Flagship Central Sector Scheme of Government of India “Skill Strengthening for Industrial Value Enhancement” (STRIVE). IIE will be implementing the project in all eight states of NER. The project is aimed at creating a pool of 107 trained mentors who shall operate from ITIs and NSTIs of the region and will be acting as the “Change Agents” to drive the entrepreneurial movement amongst the youth of ITIs and NSTIs. The project is targeting 29,500 enrolled students of ITIs and NSTIs from across all 8 states of NER, who will initially undergo ‘Two Days of Entrepreneurship Awareness Program’ (EAP) in the first stage.

Air India, which plans to induct a total of six A350 planes in the first phase, will be the first Indian carrier to have this type of aircraft. In a message to the staff on Friday, the Air India CEO and MD also said that new uniforms for the airline's ground staff as well as for Air India Express staff will be introduced soon.

BarnBridge DAO and its two founders are set to pay the SEC over $1.7 million to settle allegations of neglecting to register the offer and sale of BarnBridge’s structured crypto asset securities.

₹775.6 crore, where repayments were overdue by over six months, to an asset reconstruction company. “The bank received a binding bid of ₹280.39 crore, or 36.15% of outstanding pool for the said non-performing asset (NPA) portfolio, on (an) outright cash consideration basis," the bank said in a regulatory filing on Thursday, without naming the ARC. Bandhan Bank said it opted for a Swiss Challenge auction for selling the soured loans.

Illumination, the animation studio is coming up with Migration. Previously it has produced films such as Minions, Despicable Me, and recently The Super Mario Bros. Movie, fetching more than a billion dollars at the box office. Migration which is directed by Benjamin Renner, is written by Mike White. It is about a family of ducks who go on an adventurous vacation to Jamaica from a pool in New England.

Nirmala Sitharaman on Wednesday said the request from Parliamentarians to raise the sales threshold for Goods and Services Tax (GST) registration can be looked into by the GST Council; however, she added that most small businesses ideally should be part of the GST chain. While replying to a discussion on the Central Goods and Services Tax (Second Amendment) Bill, 2023 in Rajya Sabha, Sitharaman also took note of the requests from Parliamentarians for setting up a national appellate authority for advance ruling as provided for in GST law.

West Bengal chief minister Mamata Banerjee, along with nine party MPs, met Prime Minister Narendra Modi at the new Parliament on Wednesday and submitted a memorandum urging him to release dues pending for the MGNREGA scheme and all other central schemes to the state. Banerjee said the PM has proposed that a meeting be arranged between the officials of the Centre and the state government to sort out pending issues related to the release of central funds.

RBI) cautioned against the evergreening of loans. In its supervisory role, RBI had noticed innovative methods adopted by certain banks to conceal the true stressed nature of loans. For instance, two banks might get into an arrangement of sale and buyback of troubled loans from each other to erase the history of a stressed loan and start afresh.

Road ministry plans to bid out projects worth Rs 1.5 lakh crore to Rs 2 lakh crore on the build-operate-transfer (BOT) model before the model code of conduct comes into effect while moving to a GPS-based toll collection by March next year, road transport and highways minister Nitin Gadkari said. The general elections are likely to be held in April-May 2024.

Amid an ongoing class-action lawsuit related to a $100-million hack in June, the developer of Atomic Wallet has launched a $1-million bug bounty program aimed at identifying security flaws in its wallet software.

₹4,000 crore in assets under management (AUM). Strata and PropShare emerge as front-runners, each managing an impressive ₹1,200 crore. Following closely, AssetMonk and WiseX handle AUMs of ₹300 crore each.

The crypto market is witnessing a fascinating juxtaposition of events. While Bitcoin (BTC) takes a breather after its recent rally, a new ICO, InQubeta (QUBE) is gaining unprecedented momentum. This scenario paints a picture of a crypto landscape that is rapidly evolving, fueled by investor enthusiasm and groundbreaking technological advancements.

Mutual funds offer diversified investment options by pooling funds from multiple investors into various asset types. “Contrary to the common belief that mutual funds invest only in stock markets, they come in various types, investment is made in equity, debt, and hybrid funds, allowing investors to align investments with their risk tolerance and financial goals," said Gurmeet Singh Chawla. According to Chawla, another misconception is that mutual funds are unsuitable for young investors.

Atomic Wallet has announced the launch of a public bug bounty program featuring a $1 million prize pool in the hopes of making the app “an even more secure experience for users.”

India have been on a steady growth path since FY22 and are expected to close the ongoing fiscal with 6-8% growth. A growing middle class, an increase in disposable incomes and a low penetration ratio have been fuelling the growth, finds out Shally Seth Mohile. Why do passenger vehicle sales in India continue to advance? After a historic 27% growth in FY23 with 3.9 million units sold, passenger vehicle (PV) sales in India are expected to grow at a moderated pace of 6-8% in FY24, according to an Olx Crisil Mobility report.

₹58,378 crore in FY24. A significant portion of it will go towards fertilizer subsidies and Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGA). On 6 December, minister of state for finance, Pankaj Chaudhary, presented the first set of additional spending requests seeking the Parliament’s approval on behalf of the Centre.

By Dietrich Knauth

Hiring of freshers is likely to decline in the current fiscal as major IT companies look to freeze intake of freshers, according to a report.