After nearly three years of deliberations, the Indian markets regulator on Wednesday allowed private equity firms to serve as promoters of Indian mutual funds, in a move that may accelerate consolidation in the country’s ₹41 trillion mutual fund industry. The board of Securities and Exchange Board of India (Sebi) also approved a range of proposals […]
Bank failures: Is there a case for higher deposit insurance cover in India
The Silicon Bank Valley (SVB) crisis offers many lessons to governments and central banks elsewhere. The crisis, essentially an outcome of failure of investment-risk assessment and asset liability mismatch. Under the US deposit insurance rules, every insured depositor will get up to a ceiling of $ 250000 but in the case of SVB collapse, the […]
Axis Bank Completes Acquisition Of Citibank Businesses
Axis Bank said on Wednesday that it has completed its acquisition of Citibank’s India consumer and non-banking finance businesses. The deal, announced in March 2022, has been closed for a cash consideration of $1.41 billion (Rs 11,630 crore) in one of the largest deals in the Indian financial services space. The acquisition will help Axis […]