Latest news with #AlternativeInvestmentFunds
&w=3840&q=100)
Business Standard
2 days ago
- Business
- Business Standard
RBI eases investment regulations for banks and NBFCs in AIF schemes
The Reserve Bank of India (RBI) on Tuesday eased norms on investments by regulated entities (REs) in Alternative Investment Funds (AIFs), by capping the cumulative exposure of banks and non-banking financial companies (NBFCs) in AIFs at 20 per cent, with the contribution of a single RE capped at 10 per cent of the scheme's corpus. Additionally, the RBI has excluded equity instruments as part of downstream investment made by REs in AIFs from the purview of provisions. Previously in May, the RBI, in a draft circular, had proposed an overall cap on investment by REs in any AIF scheme at 15 per cent, with the contribution of a single RE capped at 10 per cent of the scheme's corpus. The new directions come into effect from January 1, 2026, or from any earlier date as decided by an RE as per its internal policy. Additionally, in the directions issued on Tuesday, the RBI stated that if an RE contributes more than 5 per cent to the corpus of an AIF scheme that has downstream investments — excluding equity instruments — in a debtor company of the RE, then the RE must make a 100 per cent provision for its proportionate investment in the debtor company through the AIF, subject to a cap equal to its direct loan and/or investment exposure to that company. Further, the central bank stated that if an RE's contribution to an AIF is in the form of subordinated units, the entire investment must be deducted from its capital funds — proportionately from both Tier-1 and Tier-2 capital. Back in December 2023, the RBI had barred REs from investing in AIFs that have investment in existing and recent borrowers, after markets regulator Securities and Exchange Board of India (Sebi) found instances of evergreening of loans and circumvention of other market regulations through different AIF structures. Following this, several AIFs had approached the regulators with concerns that REs were struggling to honour capital calls, following the restrictions. Later in March 2024, the RBI eased provisioning norms. 'The major changes that the industry asked for and the RBI has graciously provided are: carving out of equity investments from the guidelines, and exclusion of companies in which banks/NBFCs have made equity investments in from the definition of 'debtor company',' said Siddarth Pai, cochair, IVCA Regulatory Affairs Council. 'Now, investors in AIFs will gain much comfort, with the banking regulator once again permitting its regulated entities to invest in equity AIFs. The safeguards for private credit leave an opportunity for change if the RBI gets comfort on this matter,' he said. As of March 2025, the total commitments made to AIFs stood at ~13.49 trillion while the total investments made stood at ~5.38 trillion. Investments made in equity and equity-linked securities stood at ~3.5 trillion. Of the total ~5.63 trillion fundraise, domestic investors account for ~4.08 trillion. Real estate tops the sectors in terms of investments at ~69,896 crore, followed by information technology (IT), financial services, and NBFCs. "The directions from the RBI have some positives such as clarifying that equity instruments will include CCPS (compulsorily convertible preference shares) and CCDs (compulsorily convertible debentures), which was an industry ask. The overall RE exposure has also been kept at a reasonable 20 per cent. The fact that this only gets effective from January 2026 is a welcome move as it gives fund managers sufficient time to plan their ongoing fundraise efforts," said Pallabi Ghosal, partner, Trilegal. 'The guidelines are now brought into alignment with Sebi guidelines on due diligence and investment to ensure uniformity and clarity. The guidelines directly seek to address the concern relating to the misuse of the AIF route for evergreening of loans and advancing by using AIF to finance the existing stress loans portfolio,' said Sudhir Chandi, director at Resurgent India.
Time of India
6 days ago
- Business
- Time of India
Startup registrations cross 1.8 lakh mark, as 22,000 new entities join in 2025
Academy Empower your mind, elevate your skills Almost 21,683 startups have been recognised under the Startup India initiative by the Department for Promotion of Industry and Internal Trade (DPIIT) since the beginning of this year, bringing the total number of registered entities to 1,80, response to a query raised by Rajya Sabha member Vivek K Tankha, the ministry of commerce and industry (MoCI) revealed that as of June 30, 2025, a total of 1,80,683 entities have been recognised as startups by DPIIT. Of these, 1,18,709 have been recognised since 2022, indicating accelerated growth in India's startup the ministry also noted that 6,019 recognised startups are categorised as closed, according to the Ministry of Corporate Affairs (MCA) data until July 18 this his query, Tankha asked whether the government is aware of the decline or slowdown in venture capital and private equity funding in early-stage and Series A rounds since 2022. The MoCI responded, saying that the commitments raised by Alternative Investment Funds (AIFs), which are privately pooled investments, have seen a three-fold increase to Rs 11.3 lakh crore as of 2023-24 compared to Rs 3.7 lakh crore at the end of comes as the country's startup ecosystem is showing signs of recovery after over three years of funding slowdown. In the half-year period, five new startups turned into unicorns, such as Netradyne Porter, Drools, BlueStone , and Jumbotail , as reported by DPIIT launched the Startup India initiative in 2016, aiming to provide funding opportunities, tax benefits, and regulatory relief for entrepreneurs. As of January 15 this year, more than 1,59,000 startups got recognised under this government initiative, said a release by the MoCI this is the third-largest startup ecosystem in the world, behind the US and the UK, according to a report published by Tracxn this year.
Time of India
24-07-2025
- Business
- Time of India
Sebi issues FAQs pertaining to regulatory provisions for Research Analysts
Capital markets regulator Sebi on Wednesday asked persons associated with research services to obtain the required NISM ( National Institute of Securities Markets ) certification within one year. This one-year period is applicable from the date of this circular, Sebi said. Explore courses from Top Institutes in Please select course: Select a Course Category Finance Cybersecurity MBA Others healthcare Data Science Healthcare CXO Operations Management Management Artificial Intelligence MCA Project Management Data Science Design Thinking others Public Policy Technology Digital Marketing Product Management Data Analytics Degree Leadership PGDM Skills you'll gain: Duration: 7 Months S P Jain Institute of Management and Research CERT-SPJIMR Fintech & Blockchain India Starts on undefined Get Details Skills you'll gain: Duration: 9 Months IIM Calcutta SEPO - IIMC CFO India Starts on undefined Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Bank Owned Properties For Sale In Tan Son Nhi (Prices May Surprise You) Foreclosed Homes | Search ads Search Now Further, institutional investors are not required to give signed consent on the terms and conditions, including the Most Important Terms and Conditions (MITC). However, Research Analysts (RAs)/research entities will still share and disclose these terms to them, according to the circular. These decisions have been taken based on feedback from RAs and research entities, and to make compliance easier. Additionally, in order to provide clarity and guidance for compliance by RAs with the regulatory provisions, Sebi has issued clarifications in the form of Frequently Asked Questions (FAQs). Under this, Sebi stated that a research report does not include communications related to general trends in the securities market, discussions on broad-based indices, or commentaries on economic, political, or market conditions. Live Events It also clarified that research reports do not include periodic reports prepared for unit holders of Mutual Funds or Alternative Investment Funds, or clients of Portfolio Managers and Investment Advisers; internal communications not shared with current or prospective clients; statistical summaries of financial data of companies; and technical analyses relating to demand and supply in a sector or index. Sebi further clarified that journalists employed by media agencies such as newspapers or television are not required to register with it. However, if they make recommendations or offer opinions on securities or public offers, such recommendations must be based on research reports of registered research analysts or other Sebi-registered intermediaries permitted to issue research reports. The regulator said that a person located outside India can issue a research report or analysis on securities listed or proposed to be listed on Indian stock exchanges. However, before doing so, the person is required to enter into an agreement with a research analyst or research entity registered under the RA regulations. Regarding trading restrictions, Sebi said that independent research analysts, part-time research analysts, individuals employed as research analysts, or their associates would not deal in or trade any securities that the research analyst recommends or follows within 30 days before and 5 days after the publication of a research report on the subject company. They are also prohibited from dealing in securities they review in a manner contrary to their recommendations. Additionally, they shall not purchase or receive securities of an issuer before its initial public offering (IPO) if the issuer is principally engaged in the same type of business as companies that the research analyst follows or recommends.
Time of India
23-07-2025
- Business
- Time of India
Kotak Bank launches solitaire programme for rich Indian families
Mumbai: Kotak Mahindra Bank has unveiled Solitaire, an exclusive, invitation-only banking initiative aimed at India's affluent households. Eligibility hinges on maintaining a relationship value exceeding Rs 75 lakh for salaried individuals and Rs 1 crore for the self-employed, which is across grouped family holdings. A unique feature is that, the programme permits the inclusion of up to 14 family members, offering one of the most expansive familial coverages in the domestic wealth management landscape. It offers a suite of financial privileges, including access to alternative investments, home loan benefits, premium credit cards, and personalised wealth management services. Members can invest up to $ 250,000 abroad annually and make outward remittances of up to $ 50,000 with relative ease. Kotak provides an invite-only Solitaire credit card that earns 10 air miles per Rs 100 spent on flight and hotel bookings through the Kotak Unbox platform. International spending is made cost-effective with a 0% forex markup. Members of the Solitaire program can be referred to investment opportunities such as Alternative Investment Funds (AIFs) through Kotak group companies. The program offers access to pre-approved home loans of up to Rs 7.5 crore, with a streamlined application process designed to reduce turnaround time. Financial flexibility is another key feature, with a pre-approved credit line of up to Rs 25 lakh, where interest is charged only on the amount utilised. The program also extends access to Kotak Life Insurance plans, including term and annuity products. A dedicated relationship manager is assigned to each member, offering personalised assistance across banking, investment, and insurance needs. The program includes enhanced banking facilities such as the ActivMoney feature, which automatically transfers idle balances above Rs 3 lakh into fixed deposits to earn higher returns. Members can also request Solitaire-branded debit cards and chequebooks, and extend credit card benefits to up to three family members. Eligibility for Kotak Solitaire is by invitation and is based on the individual or family's overall Relationship Value with the bank. This includes balances in savings and current accounts, fixed deposits, mutual funds, life insurance premiums paid, 30% of sanctioned loans (including home loans and working capital), and 30% of Demat holdings through Kotak Securities. The relationship value can be aggregated across family members, including spouse, children, parents, daughter-in-law, and minors (as non-primary holders). HUF accounts are eligible if the Karta is included, and CRNs for business accounts can be grouped if at least one partner, proprietor, or director is shared. Membership status is reviewed every six months. If the Relationship Value falls below the required threshold, Solitaire benefits may be withdrawn after prior notice. The Solitaire credit card's annual fee is waived as long as eligibility is maintained. If the member is downgraded and no longer qualifies, an annual fee of Rs 25,000 applies unless separate card eligibility criteria are met. The default threshold for ActivMoney is Rs 3 lakh, with sweep-ins directed to 180-day term deposits (or one-year deposits for NRE accounts). If an upgrade occurs, members must reset these thresholds manually. Insurance policies offered under the program are underwritten by Zurich Kotak Life Insurance and are not bank-guaranteed. The purchase of insurance products is entirely voluntary. All services, including credit facilities and investment referrals, are subject to the bank's discretion and governed by internal policies and applicable RBI regulations. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
23-07-2025
- Business
- Time of India
Kotak Bank launches new wealth management for big Indian families
Mumbai: Kotak Mahindra Bank has unveiled Solitaire, an exclusive, invitation-only banking initiative aimed at India's affluent households. Eligibility hinges on maintaining a relationship value exceeding Rs 75 lakh for salaried individuals and Rs 1 crore for the self-employed, which is across grouped family holdings. A unique feature is that, the programme permits the inclusion of up to 14 family members, offering one of the most expansive familial coverages in the domestic wealth management landscape. It offers a suite of financial privileges, including access to alternative investments, home loan benefits, premium credit cards, and personalised wealth management services. Members can invest up to $ 250,000 abroad annually and make outward remittances of up to $ 50,000 with relative ease. Kotak provides an invite-only Solitaire credit card that earns 10 air miles per Rs 100 spent on flight and hotel bookings through the Kotak Unbox platform. International spending is made cost-effective with a 0% forex markup. Members of the Solitaire program can be referred to investment opportunities such as Alternative Investment Funds (AIFs) through Kotak group companies. The program offers access to pre-approved home loans of up to Rs 7.5 crore, with a streamlined application process designed to reduce turnaround time. Financial flexibility is another key feature, with a pre-approved credit line of up to Rs 25 lakh, where interest is charged only on the amount utilised. The program also extends access to Kotak Life Insurance plans, including term and annuity products. A dedicated relationship manager is assigned to each member, offering personalised assistance across banking, investment, and insurance needs. The program includes enhanced banking facilities such as the ActivMoney feature, which automatically transfers idle balances above Rs 3 lakh into fixed deposits to earn higher returns. Members can also request Solitaire-branded debit cards and chequebooks, and extend credit card benefits to up to three family members. Eligibility for Kotak Solitaire is by invitation and is based on the individual or family's overall Relationship Value with the bank. This includes balances in savings and current accounts, fixed deposits, mutual funds, life insurance premiums paid, 30% of sanctioned loans (including home loans and working capital), and 30% of Demat holdings through Kotak Securities. The relationship value can be aggregated across family members, including spouse, children, parents, daughter-in-law, and minors (as non-primary holders). HUF accounts are eligible if the Karta is included, and CRNs for business accounts can be grouped if at least one partner, proprietor, or director is shared. Membership status is reviewed every six months. If the Relationship Value falls below the required threshold, Solitaire benefits may be withdrawn after prior notice. The Solitaire credit card's annual fee is waived as long as eligibility is maintained. If the member is downgraded and no longer qualifies, an annual fee of Rs 25,000 applies unless separate card eligibility criteria are met. The default threshold for ActivMoney is Rs 3 lakh, with sweep-ins directed to 180-day term deposits (or one-year deposits for NRE accounts). If an upgrade occurs, members must reset these thresholds manually. Insurance policies offered under the program are underwritten by Zurich Kotak Life Insurance and are not bank-guaranteed. The purchase of insurance products is entirely voluntary. All services, including credit facilities and investment referrals, are subject to the bank's discretion and governed by internal policies and applicable RBI regulations. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
