Latest news with #AIF
&w=3840&q=100)
Business Standard
4 days ago
- Business
- Business Standard
ICICI Bank net up 15.5% on treasury gains, NII increases by 10.6%
ICICI Bank – the second largest private sector lender of the country – reported a 15.5 per cent year-on-year (Y-o-Y) rise in its standalone net profit to Rs 12,768 crore for the April-June quarter of the financial year 2025-26 (Q1FY26), mainly due to rise in treasury income. Net interest income (NII) increased by 10.6 per cent Y-o-Y to Rs 21,635 crore during the period under review, while non-interest income, excluding treasury, increased by 13.7 per cent year-on-year to Rs 7,264. Treasury income more than doubled in Q1 as compared to the same period last year. 'Treasury gains were Rs 1,241 crore in Q1FY26, compared to Rs 613 crore in Q1FY25, primarily reflecting realised and mark-to-market gains in fixed income securities and equities,' the bank said. The net domestic advances grew by 12.0 per cent Y-o-Y and 1.5 per cent, sequentially, during the quarter under review. The retail loan portfolio grew by 6.9 per cent Y-o-Y and 0.5 per cent, sequentially, and comprised 52.2 per cent of the total loan portfolio. The business banking portfolio grew by 29.7 per cent Y-o-Y, while domestic corporate portfolio grew by 7.5 per cent, but declined by 1.4 per cent sequentially. The rural portfolio declined by 0.4 per cent Y-o-Y and 1.5 per cent sequentially. Total advances increased by 11.5 per cent Y-o-Y and 1.7 per cent sequentially to Rs 12. 64 trillion. Total deposits grew by 12.8 per cent Y-o-Y to Rs 16.08 trillion. Provisions (excluding provision for tax) were Rs 1,815 crore, compared to Rs 1,332 crore (US$ 155 million) in Q1FY25. 'Provisions in Q1FY25 included the impact of release of AIF related provisions of Rs 389 crore,' the bank said. The gross NPA ratio was 1.67 per cent during Q1FY26, compared to 2.15 per cent during the same period last year. Net NPA ratio was 0.41 per cent during the period, compared to 0.43 per cent in Q1FY25. The gross NPA additions were Rs 6,245 crore in Q1, compared to Rs 5,916 crore during the same period last year. 'Including profits for Q1FY26, the bank's total capital adequacy ratio at June 30, 2025 was 16.97 per cent and CET-1 ratio was 16.31 per cent, compared to the minimum regulatory requirements of 11.70 per cent and 8.20 per cent respectively,' ICICI Bank said.
The Advertiser
5 days ago
- General
- The Advertiser
'Go ahead Russell, go ahead': WWII veteran's death leaves legacy for 'wonderful world'
After living an incredible 100 years, WWII veteran Russell "Rusty" Leslie Fuller has died and will finally reunite with his late wife, Jenny. On Thursday, July 3, 2025, Russell, who had lived Albion Park Rail for about 25 years, died peacefully in Temora, where he had moved to be closer to his daughter Michelle. Many in will remember Anzac Day 2020, when during the height of COVID, Rusty's neighbours in Albion Park Rail decided to put on a special service for their oldest serving resident, who was 95 at the time. As the sun rose over Kimbeth Crescent, the WWII veteran and his neighbours stood on driveways and listened to the Last Post. Rhonda Reeves, who was Russell's neighbour from across the road for more than two decades, described her friend as a very special man. "I thought it would be lovely for Russell to feel special on Anzac Day, as he should, and we got the neighbourhood together and it turned out to be a very special day," she said. "He was just so excited about it. He shared a lot of tears. He was just so proud walking around with younger children, while we all clapped him. "He was wise, kind, giving, quiet-talking, never bragged or raised his voice. He was just someone you could sit and talk to. He was so calming. I don't think there's anyone else like him anymore." Born to parents Richard and Grace Elizabeth in Goulburn on February 1, 1925, Russell "Rusty" Fuller was the second eldest of eight children. Russell spent the first eight years of his life in Goulburn before he and his family moved to a farm in Forster. The 500-acre farm "Coomba" was located in Shallow Bay, had 30 dairy cows, and provided milk to the Tuncurry Butter Factory. As a child, Russell used the lakes and rivers that passed along the farm as highways to town - his mode of transport a small white wooden punt with two oars and a lot of elbow grease. Russell was required to board a boat to get to school in Tuncurry, skippered by a German man named Poppy Norman. The skipper must have thought his luck had dwindled, as each day, he would set crab and lobster pots along the coast and would rarely secure a catch. But Russell and his best friend, Ronnie Foster, always seemed to have the catch of the day on their dinner tables. "We were terrible. It was the wrong thing to do, but we got away with it," Russell said with a laugh when I spoke to him in 2020. Before joining the army, Russell lived with his sister at Bulahdelah, where he worked in a timber mill. "I got a call from the army to go and have a medical exam," Russell said. "I was called up in June 1943. I had to get my Dad's permission to join the AIF. He said, 'Go ahead, Russell, go ahead'." When speaking about his father, Richard, who served in the Australian Army during World War I, Russell always had a sparkle in his eyes and a smile on his face. He said if it weren't for a Salvation Army lady, his father would have died in the trenches of the battle-torn landscape during the Battle of Menin Road. Wounded in action when a bullet tore a deep incision in his right leg, two inches deep and three inches wide, Richard tried to hide his injury and dampen the pain with mud. It hadn't worked, and he collapsed. His body was placed among the Canadian dead. "This young little Salvation Army lady walked past, and Dad waved his hand, and she saw it and pulled him out," Russell said. Like his father before him, Russell was proud of his service. During World War II, he was part of the three-inch mortar patrol within the 2/16th battalion. When he trained, he remembered being given metal helmets for protection. Yet, Russell said those helmets often lay in the dirt, replaced by comfortable slouch hats. "It is the risk you took," he said. "Helmets would blister your head in the sun and were too heavy to manoeuvre efficiently, so the felt hat was the best option, regardless of the risk." He vividly remembered waiting in formation with his comrades for dinner when the unthinkable occurred, and another battalion's shell fell short of its intended target. "A drop short. It landed in front of the troops who were lined up for dinner, and it killed six of us. I was in about 10th position," he said. Months before the Battle of Balikpapan, the battalion practised barge landing in Australia and Morotai before taking the shore in July 1945. He was 20 years old. With rucksacks secured on their backs and rifles in hand, soldiers huddled as one, as their arms held onto the side of the landing craft. Their eyes gazed towards the beach approaching, but their view was obscured by a heavy black, smoke-drenched landscape with staggered palm trees ripped of fronds. Russell stood with his fellow three-inch mortar crew, had a barrel on his back and three bombs underneath each arm. "We were allowed to take up to four days. It was captured on the first day," he said. After the war, Russell returned to Rockhampton and found work laying telephone cables for the Postmaster-General's Department. He met his wife, Jenny Dickerson, through dinner dates with his sister, Yvonne. Russell courageously asked Jenny if she would go on a date, and she said yes. "That made my day," Russell said. "She is the best thing that ever happened to me, believe me." On November 15, 1952, they became husband and wife, and the couple adopted two girls, Michelle and Debbie. Russell lived much of his later life in Albion Park Rail where he cared for his beloved veggie garden, enjoyed reading, attended church, and listened to music programs. "If everybody was there to help one another, what a wonderful world it would be," Russell said. "Good health, that's number one. If you have good friends and neighbours, that's number two. The other things are just extra." After living an incredible 100 years, WWII veteran Russell "Rusty" Leslie Fuller has died and will finally reunite with his late wife, Jenny. On Thursday, July 3, 2025, Russell, who had lived Albion Park Rail for about 25 years, died peacefully in Temora, where he had moved to be closer to his daughter Michelle. Many in will remember Anzac Day 2020, when during the height of COVID, Rusty's neighbours in Albion Park Rail decided to put on a special service for their oldest serving resident, who was 95 at the time. As the sun rose over Kimbeth Crescent, the WWII veteran and his neighbours stood on driveways and listened to the Last Post. Rhonda Reeves, who was Russell's neighbour from across the road for more than two decades, described her friend as a very special man. "I thought it would be lovely for Russell to feel special on Anzac Day, as he should, and we got the neighbourhood together and it turned out to be a very special day," she said. "He was just so excited about it. He shared a lot of tears. He was just so proud walking around with younger children, while we all clapped him. "He was wise, kind, giving, quiet-talking, never bragged or raised his voice. He was just someone you could sit and talk to. He was so calming. I don't think there's anyone else like him anymore." Born to parents Richard and Grace Elizabeth in Goulburn on February 1, 1925, Russell "Rusty" Fuller was the second eldest of eight children. Russell spent the first eight years of his life in Goulburn before he and his family moved to a farm in Forster. The 500-acre farm "Coomba" was located in Shallow Bay, had 30 dairy cows, and provided milk to the Tuncurry Butter Factory. As a child, Russell used the lakes and rivers that passed along the farm as highways to town - his mode of transport a small white wooden punt with two oars and a lot of elbow grease. Russell was required to board a boat to get to school in Tuncurry, skippered by a German man named Poppy Norman. The skipper must have thought his luck had dwindled, as each day, he would set crab and lobster pots along the coast and would rarely secure a catch. But Russell and his best friend, Ronnie Foster, always seemed to have the catch of the day on their dinner tables. "We were terrible. It was the wrong thing to do, but we got away with it," Russell said with a laugh when I spoke to him in 2020. Before joining the army, Russell lived with his sister at Bulahdelah, where he worked in a timber mill. "I got a call from the army to go and have a medical exam," Russell said. "I was called up in June 1943. I had to get my Dad's permission to join the AIF. He said, 'Go ahead, Russell, go ahead'." When speaking about his father, Richard, who served in the Australian Army during World War I, Russell always had a sparkle in his eyes and a smile on his face. He said if it weren't for a Salvation Army lady, his father would have died in the trenches of the battle-torn landscape during the Battle of Menin Road. Wounded in action when a bullet tore a deep incision in his right leg, two inches deep and three inches wide, Richard tried to hide his injury and dampen the pain with mud. It hadn't worked, and he collapsed. His body was placed among the Canadian dead. "This young little Salvation Army lady walked past, and Dad waved his hand, and she saw it and pulled him out," Russell said. Like his father before him, Russell was proud of his service. During World War II, he was part of the three-inch mortar patrol within the 2/16th battalion. When he trained, he remembered being given metal helmets for protection. Yet, Russell said those helmets often lay in the dirt, replaced by comfortable slouch hats. "It is the risk you took," he said. "Helmets would blister your head in the sun and were too heavy to manoeuvre efficiently, so the felt hat was the best option, regardless of the risk." He vividly remembered waiting in formation with his comrades for dinner when the unthinkable occurred, and another battalion's shell fell short of its intended target. "A drop short. It landed in front of the troops who were lined up for dinner, and it killed six of us. I was in about 10th position," he said. Months before the Battle of Balikpapan, the battalion practised barge landing in Australia and Morotai before taking the shore in July 1945. He was 20 years old. With rucksacks secured on their backs and rifles in hand, soldiers huddled as one, as their arms held onto the side of the landing craft. Their eyes gazed towards the beach approaching, but their view was obscured by a heavy black, smoke-drenched landscape with staggered palm trees ripped of fronds. Russell stood with his fellow three-inch mortar crew, had a barrel on his back and three bombs underneath each arm. "We were allowed to take up to four days. It was captured on the first day," he said. After the war, Russell returned to Rockhampton and found work laying telephone cables for the Postmaster-General's Department. He met his wife, Jenny Dickerson, through dinner dates with his sister, Yvonne. Russell courageously asked Jenny if she would go on a date, and she said yes. "That made my day," Russell said. "She is the best thing that ever happened to me, believe me." On November 15, 1952, they became husband and wife, and the couple adopted two girls, Michelle and Debbie. Russell lived much of his later life in Albion Park Rail where he cared for his beloved veggie garden, enjoyed reading, attended church, and listened to music programs. "If everybody was there to help one another, what a wonderful world it would be," Russell said. "Good health, that's number one. If you have good friends and neighbours, that's number two. The other things are just extra." After living an incredible 100 years, WWII veteran Russell "Rusty" Leslie Fuller has died and will finally reunite with his late wife, Jenny. On Thursday, July 3, 2025, Russell, who had lived Albion Park Rail for about 25 years, died peacefully in Temora, where he had moved to be closer to his daughter Michelle. Many in will remember Anzac Day 2020, when during the height of COVID, Rusty's neighbours in Albion Park Rail decided to put on a special service for their oldest serving resident, who was 95 at the time. As the sun rose over Kimbeth Crescent, the WWII veteran and his neighbours stood on driveways and listened to the Last Post. Rhonda Reeves, who was Russell's neighbour from across the road for more than two decades, described her friend as a very special man. "I thought it would be lovely for Russell to feel special on Anzac Day, as he should, and we got the neighbourhood together and it turned out to be a very special day," she said. "He was just so excited about it. He shared a lot of tears. He was just so proud walking around with younger children, while we all clapped him. "He was wise, kind, giving, quiet-talking, never bragged or raised his voice. He was just someone you could sit and talk to. He was so calming. I don't think there's anyone else like him anymore." Born to parents Richard and Grace Elizabeth in Goulburn on February 1, 1925, Russell "Rusty" Fuller was the second eldest of eight children. Russell spent the first eight years of his life in Goulburn before he and his family moved to a farm in Forster. The 500-acre farm "Coomba" was located in Shallow Bay, had 30 dairy cows, and provided milk to the Tuncurry Butter Factory. As a child, Russell used the lakes and rivers that passed along the farm as highways to town - his mode of transport a small white wooden punt with two oars and a lot of elbow grease. Russell was required to board a boat to get to school in Tuncurry, skippered by a German man named Poppy Norman. The skipper must have thought his luck had dwindled, as each day, he would set crab and lobster pots along the coast and would rarely secure a catch. But Russell and his best friend, Ronnie Foster, always seemed to have the catch of the day on their dinner tables. "We were terrible. It was the wrong thing to do, but we got away with it," Russell said with a laugh when I spoke to him in 2020. Before joining the army, Russell lived with his sister at Bulahdelah, where he worked in a timber mill. "I got a call from the army to go and have a medical exam," Russell said. "I was called up in June 1943. I had to get my Dad's permission to join the AIF. He said, 'Go ahead, Russell, go ahead'." When speaking about his father, Richard, who served in the Australian Army during World War I, Russell always had a sparkle in his eyes and a smile on his face. He said if it weren't for a Salvation Army lady, his father would have died in the trenches of the battle-torn landscape during the Battle of Menin Road. Wounded in action when a bullet tore a deep incision in his right leg, two inches deep and three inches wide, Richard tried to hide his injury and dampen the pain with mud. It hadn't worked, and he collapsed. His body was placed among the Canadian dead. "This young little Salvation Army lady walked past, and Dad waved his hand, and she saw it and pulled him out," Russell said. Like his father before him, Russell was proud of his service. During World War II, he was part of the three-inch mortar patrol within the 2/16th battalion. When he trained, he remembered being given metal helmets for protection. Yet, Russell said those helmets often lay in the dirt, replaced by comfortable slouch hats. "It is the risk you took," he said. "Helmets would blister your head in the sun and were too heavy to manoeuvre efficiently, so the felt hat was the best option, regardless of the risk." He vividly remembered waiting in formation with his comrades for dinner when the unthinkable occurred, and another battalion's shell fell short of its intended target. "A drop short. It landed in front of the troops who were lined up for dinner, and it killed six of us. I was in about 10th position," he said. Months before the Battle of Balikpapan, the battalion practised barge landing in Australia and Morotai before taking the shore in July 1945. He was 20 years old. With rucksacks secured on their backs and rifles in hand, soldiers huddled as one, as their arms held onto the side of the landing craft. Their eyes gazed towards the beach approaching, but their view was obscured by a heavy black, smoke-drenched landscape with staggered palm trees ripped of fronds. Russell stood with his fellow three-inch mortar crew, had a barrel on his back and three bombs underneath each arm. "We were allowed to take up to four days. It was captured on the first day," he said. After the war, Russell returned to Rockhampton and found work laying telephone cables for the Postmaster-General's Department. He met his wife, Jenny Dickerson, through dinner dates with his sister, Yvonne. Russell courageously asked Jenny if she would go on a date, and she said yes. "That made my day," Russell said. "She is the best thing that ever happened to me, believe me." On November 15, 1952, they became husband and wife, and the couple adopted two girls, Michelle and Debbie. Russell lived much of his later life in Albion Park Rail where he cared for his beloved veggie garden, enjoyed reading, attended church, and listened to music programs. "If everybody was there to help one another, what a wonderful world it would be," Russell said. "Good health, that's number one. If you have good friends and neighbours, that's number two. The other things are just extra." After living an incredible 100 years, WWII veteran Russell "Rusty" Leslie Fuller has died and will finally reunite with his late wife, Jenny. On Thursday, July 3, 2025, Russell, who had lived Albion Park Rail for about 25 years, died peacefully in Temora, where he had moved to be closer to his daughter Michelle. Many in will remember Anzac Day 2020, when during the height of COVID, Rusty's neighbours in Albion Park Rail decided to put on a special service for their oldest serving resident, who was 95 at the time. As the sun rose over Kimbeth Crescent, the WWII veteran and his neighbours stood on driveways and listened to the Last Post. Rhonda Reeves, who was Russell's neighbour from across the road for more than two decades, described her friend as a very special man. "I thought it would be lovely for Russell to feel special on Anzac Day, as he should, and we got the neighbourhood together and it turned out to be a very special day," she said. "He was just so excited about it. He shared a lot of tears. He was just so proud walking around with younger children, while we all clapped him. "He was wise, kind, giving, quiet-talking, never bragged or raised his voice. He was just someone you could sit and talk to. He was so calming. I don't think there's anyone else like him anymore." Born to parents Richard and Grace Elizabeth in Goulburn on February 1, 1925, Russell "Rusty" Fuller was the second eldest of eight children. Russell spent the first eight years of his life in Goulburn before he and his family moved to a farm in Forster. The 500-acre farm "Coomba" was located in Shallow Bay, had 30 dairy cows, and provided milk to the Tuncurry Butter Factory. As a child, Russell used the lakes and rivers that passed along the farm as highways to town - his mode of transport a small white wooden punt with two oars and a lot of elbow grease. Russell was required to board a boat to get to school in Tuncurry, skippered by a German man named Poppy Norman. The skipper must have thought his luck had dwindled, as each day, he would set crab and lobster pots along the coast and would rarely secure a catch. But Russell and his best friend, Ronnie Foster, always seemed to have the catch of the day on their dinner tables. "We were terrible. It was the wrong thing to do, but we got away with it," Russell said with a laugh when I spoke to him in 2020. Before joining the army, Russell lived with his sister at Bulahdelah, where he worked in a timber mill. "I got a call from the army to go and have a medical exam," Russell said. "I was called up in June 1943. I had to get my Dad's permission to join the AIF. He said, 'Go ahead, Russell, go ahead'." When speaking about his father, Richard, who served in the Australian Army during World War I, Russell always had a sparkle in his eyes and a smile on his face. He said if it weren't for a Salvation Army lady, his father would have died in the trenches of the battle-torn landscape during the Battle of Menin Road. Wounded in action when a bullet tore a deep incision in his right leg, two inches deep and three inches wide, Richard tried to hide his injury and dampen the pain with mud. It hadn't worked, and he collapsed. His body was placed among the Canadian dead. "This young little Salvation Army lady walked past, and Dad waved his hand, and she saw it and pulled him out," Russell said. Like his father before him, Russell was proud of his service. During World War II, he was part of the three-inch mortar patrol within the 2/16th battalion. When he trained, he remembered being given metal helmets for protection. Yet, Russell said those helmets often lay in the dirt, replaced by comfortable slouch hats. "It is the risk you took," he said. "Helmets would blister your head in the sun and were too heavy to manoeuvre efficiently, so the felt hat was the best option, regardless of the risk." He vividly remembered waiting in formation with his comrades for dinner when the unthinkable occurred, and another battalion's shell fell short of its intended target. "A drop short. It landed in front of the troops who were lined up for dinner, and it killed six of us. I was in about 10th position," he said. Months before the Battle of Balikpapan, the battalion practised barge landing in Australia and Morotai before taking the shore in July 1945. He was 20 years old. With rucksacks secured on their backs and rifles in hand, soldiers huddled as one, as their arms held onto the side of the landing craft. Their eyes gazed towards the beach approaching, but their view was obscured by a heavy black, smoke-drenched landscape with staggered palm trees ripped of fronds. Russell stood with his fellow three-inch mortar crew, had a barrel on his back and three bombs underneath each arm. "We were allowed to take up to four days. It was captured on the first day," he said. After the war, Russell returned to Rockhampton and found work laying telephone cables for the Postmaster-General's Department. He met his wife, Jenny Dickerson, through dinner dates with his sister, Yvonne. Russell courageously asked Jenny if she would go on a date, and she said yes. "That made my day," Russell said. "She is the best thing that ever happened to me, believe me." On November 15, 1952, they became husband and wife, and the couple adopted two girls, Michelle and Debbie. Russell lived much of his later life in Albion Park Rail where he cared for his beloved veggie garden, enjoyed reading, attended church, and listened to music programs. "If everybody was there to help one another, what a wonderful world it would be," Russell said. "Good health, that's number one. If you have good friends and neighbours, that's number two. The other things are just extra."
Entrepreneur
7 days ago
- Business
- Entrepreneur
Equirus Launches Offshore Small-Cap Fund from GIFT City for Global Investors
With a minimum investment requirement of USD 150,000, the fund focuses on listed small-cap companies in India that exhibit strong fundamentals, scalable business models, and high growth potential. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Equirus Asset Manager, part of the Equirus Group, has announced the launch of its latest investment vehicle, the 'Equirus Long Horizon Offshore Investments Fund.' Registered under the International Financial Services Centres Authority (IFSCA) as a Category III Alternative Investment Fund (AIF), the open-ended fund is based in GIFT City and is denominated in US dollars. It is tailored for global investors looking to tap into the long-term growth potential of Indian small-cap equities. With a minimum investment requirement of USD 150,000, the fund focuses on listed small-cap companies in India that exhibit strong fundamentals, scalable business models, and high growth potential. The fund is benchmark-agnostic and adopts a bottom-up, research-driven approach, emphasising disciplined investing and earnings-based stock selection. Sahil Shah, Chief Investment Officer at Equirus Asset Manager, highlighted, "India is entering a multi-decade growth cycle fueled by manufacturing momentum and a rising consumption-driven middle class. Small caps offer the most direct exposure to these trends. Our aim is to support high-quality businesses at pivotal stages in their growth journey." The fund is structured to provide a tax-efficient gateway for global investors, including Non-Resident Indians (NRIs) and Overseas Citizens of India (OCIs). It draws on Equirus's established onshore investment strategy, which has delivered a compounded annual growth rate of 21.6 percent over more than eight years. Ajaykumar Gupta, Chief Business Officer at Equirus Asset Manager, noted, "This fund is more than a financial instrument. It connects global investors to the next chapter of India's economic rise. As the country advances toward becoming a 10 trillion dollar economy, our fund offers a transparent and compliant structure for participating in that transformation." Equirus's small-cap strategy is grounded in identifying companies capable of compounding earnings significantly above India's nominal GDP growth. The fund maintains a diversified portfolio of 20 to 25 businesses, ensuring a balance between risk management and focused capital allocation. As global interest in Indian equities increases, particularly in the under-researched small-cap segment, the new fund positions itself as a timely opportunity for long-term investors.
Hans India
16-07-2025
- Business
- Hans India
‘Retail participation in capital market increased significantly'
Mumbai: The Indian market is witnessing remarkable participation from retail investors, with a surge in demat accounts to 19.4 crore in 2025 from 3.6 crore in 2019, a senior Sebi official said on Tuesday. Meanwhile, domestic institutional ownership in listed companies has increased from 13 per cent to 20 per cent, while foreign ownership has declined from 22 per cent to 17 per cent. Speaking at an event organised by IVCA Renewable Energy Summit 2025, Dr. Ruchi Chojer, Executive Director at Sebi, said that trust is the cornerstone of investment, and India has earned that trust. 'At Sebi, our regulatory approach has focused on balancing capital formation with systemic stability and investor protection. Trust is the cornerstone of investment, and India has earned that trust,' she was quoted in a statement issued by IVCA. She shared that retail participation has surged from 3.6 crore demat accounts in 2019 to 19.4 crore in 2025. Highlighting the evolution of capital markets in the country, Chojer said that over the last three decades, India's capital markets have transformed into one of the world's top 10 equity ecosystems-- resilient, inclusive, and increasingly driven by domestic participation. In the last 10 years alone, Indian companies have raised nearly Rs 93 lakh crore through equity and debt, with FY 2024–25 witnessing a record Rs 4.3 lakh crore in equity issuance, including Rs 1.7 lakh crore via IPOs. 'This growth is powered not just by policy and infrastructure, but by deepening investor trust,' she said. Additionally, she spoke aon the importance of capital markets in India's clean energy journey. 'As India undertakes its green transition, the role of capital markets and particularly alternative investment funds (AIFs) will be critical. Financing long-gestation sectors like grid modernisation, storage, and transmission requires patient and risk-tolerant capital. Sebi has already enabled blended finance structures, allowing philanthropic and multilateral capital to invest through junior units in AIFs. This is a vital step in unlocking capital for the energy transition,' she said. Also, she stressed that India's clean energy transition cannot be driven by listed companies alone and AIFs must play a key role in driving ESG adoption among unlisted investee companies, especially as 40 per cent of AIF capital comes from foreign investors who expect alignment with global disclosure standards. 'We are open to proposals for ESG-labelled AIF categories, and we believe well-structured tax incentives can further catalyse investment into sectors with long-term impact and higher risk profiles,' she said. Looking to the future, she noted, 'India will need an estimated USD 250 billion by 2030 to finance renewable energy, storage, and transmission.
&w=3840&q=100)
Business Standard
15-07-2025
- Business
- Business Standard
AIFs must lead ESG push in unlisted firms, says Sebi's Ruchi Chojer
Sebi executive director says AIFs must align with global ESG norms as 40 per cent of capital comes from foreign investors expecting high disclosure standards BS Reporter Mumbai Alternate investment funds (AIFs) must play a key role in driving environmental, social, and governance (ESG) adoption among unlisted investee companies, said Ruchi Chojer, Executive Director at the Securities and Exchange Board of India (Sebi). Chojer was speaking at a fireside chat organised by the Indian Venture and Alternate Capital Association (IVCA) as part of its Renewable Energy Summit 2025. She said 40 per cent of AIF capital comes from foreign investors who expect alignment with global disclosure standards and added that the regulator is open to proposals for ESG-labelled AIF categories. 'India will need an estimated $250 billion by 2030 to finance renewable energy, storage, and transmission. Sebi remains committed to enabling this transformation by providing regulatory clarity, reducing policy risk, and supporting innovative investment structures. Our goal is to ensure that India's capital markets continue to serve not just as engines of growth but also as platforms for building a sustainable, future-ready economy,' Chojer said. Underlining Sebi's efforts, she noted that the Business Responsibility and Sustainability Reporting (BRSR) framework has elevated ESG disclosures in India to the level of financial reporting—making them assured, consistent, and decision-useful. First Published: Jul 15 2025 | 6:35 PM IST
