Latest news with #BSEBankex
Mint
3 days ago
- Business
- Mint
Banking, financial services MEs see 37 pc surge in AUM to ₹48,000 cr in May
New Delhi, Investment in banking and financial services sector-based mutual funds jumped 37 per cent year-on-year to ₹ 48,000 crore in May 2025. The surge in assets is backed by the strong performance of the segment. Industry data showed that these funds have delivered returns ranging from 22 to 30 per cent over the past year, highlighting the sector's robust fundamentals and growing appeal. According to the industry data, there are currently 22 banking and financial services mutual funds in the Indian market, managing a combined assets under management of ₹ 48,000 crore in May 2025 against about ₹ 34,971 crore in May 2024. The sharp rise suggests growing investor confidence in the long-term potential of the BFSI sector. The BFSI sector, which holds the distinction of being the largest by market capitalisation in India's listed space, has remained resilient amid recent market volatility. BSE financial services index has gained nearly 14 per cent in the first three months of the current financial year alone, while BSE Bankex rose 10 per cent during the period under review. Moreover, the BFSI space is likely to expand further with unlisted players in insurance, fintech, wealth management, and digital lending expected to access public markets. This trend will further broaden the investment landscape within the sector and encourage wider market participation. "India's BFSI sector is no longer just about traditional banking it's a gateway to participate in the country's digital financial revolution. "With the formalisation of the economy, rising retail participation, and a strong pipeline of quality players, this space offers long-term structural potential. For investors looking to build wealth over time, a dedicated BFSI fund with an actively managed, fresh portfolio can be a smart and timely allocation," Alpa Shah, a wealth manager, said. In line with this growing momentum, Mahindra Manulife Mutual Fund recently launched the Mahindra Manulife Banking and Financial Services Fund on June 27. The new fund offer is open until July 11 and aims to provide investors with an opportunity to participate in the sector's growth story through a portfolio aligned with current market dynamics. For investors seeking targeted exposure to India's financial transformation, a measured allocation to such funds with a minimum investment horizon of 3 to 5 years can be a prudent move, fund managers suggested.
Mint
3 days ago
- Business
- Mint
Banking, financial services MEs see 37 pc surge in AUM to ₹48,000 cr in May
New Delhi, Investment in banking and financial services sector-based mutual funds jumped 37 per cent year-on-year to ₹ 48,000 crore in May 2025. The surge in assets is backed by the strong performance of the segment. Industry data showed that these funds have delivered returns ranging from 22 to 30 per cent over the past year, highlighting the sector's robust fundamentals and growing appeal. According to the industry data, there are currently 22 banking and financial services mutual funds in the Indian market, managing a combined assets under management of ₹ 48,000 crore in May 2025 against about ₹ 34,971 crore in May 2024. The sharp rise suggests growing investor confidence in the long-term potential of the BFSI sector. The BFSI sector, which holds the distinction of being the largest by market capitalisation in India's listed space, has remained resilient amid recent market volatility. BSE financial services index has gained nearly 14 per cent in the first three months of the current financial year alone, while BSE Bankex rose 10 per cent during the period under review. Moreover, the BFSI space is likely to expand further with unlisted players in insurance, fintech, wealth management, and digital lending expected to access public markets. This trend will further broaden the investment landscape within the sector and encourage wider market participation. "India's BFSI sector is no longer just about traditional banking it's a gateway to participate in the country's digital financial revolution. "With the formalisation of the economy, rising retail participation, and a strong pipeline of quality players, this space offers long-term structural potential. For investors looking to build wealth over time, a dedicated BFSI fund with an actively managed, fresh portfolio can be a smart and timely allocation," Alpa Shah, a wealth manager, said. In line with this growing momentum, Mahindra Manulife Mutual Fund recently launched the Mahindra Manulife Banking and Financial Services Fund on June 27. The new fund offer is open until July 11 and aims to provide investors with an opportunity to participate in the sector's growth story through a portfolio aligned with current market dynamics. For investors seeking targeted exposure to India's financial transformation, a measured allocation to such funds with a minimum investment horizon of 3 to 5 years can be a prudent move, fund managers suggested. This article was generated from an automated news agency feed without modifications to text.
Mint
06-06-2025
- Business
- Mint
RBI governor Malhotra says IndusInd Bank doing well, shares jump 5%
Mumbai: The Reserve Bank of India (RBI) on Friday said IndusInd Bank has taken sufficient steps to address improve its accounting practices, with governor Sanjay Malhotra noting that the bank is doing well overall. The remarks signalled regulatory comfort with the lender's actions so far, pushing its shares up over 5%. The RBI's comments come nearly three months after IndusInd Bank disclosed issues in its derivatives book, which triggered a 27% crash in its shares. Since then, the bank has seen the exit of top executives and faced scrutiny from both the central bank and the capital markets regulator Securities and Exchange Board of India (Sebi). 'The MD & CEO has resigned and it says for taking moral responsibility. So, I thought that should be good enough,' Malhotra said at the post-policy conference. Reacting to the statement, IndusInd Bank's share hit an intraday high of ₹ 845.9 apiece on the BSE, up 5.3%, according to Bloomberg data. The stock remains 8.6% below its close of 10 March, the day the lender acknowledged the derivatives discrepancies. The broader BSE Bankex index has risen 15% over the same period. When asked about broader board accountability, Malhotra said, 'Do you expect all the board members…what are you hinting at? The MD & CEO, who is also a member of the board—if he has taken responsibility, that is at the board level itself.' IndusInd Bank is in the middle of a management transition, following the exit of deputy chief executive Arun Khurana—two days after a report by Grant Thornton on the derivatives lapses—and the resignation of chief executive Sumant Kathpalia before a successor was found. On 21 May, IndusInd Bank chairman Sunil Mehta said the board was not informed of the discrepancies and that it acted swiftly once they came to light. However, a Sebi probe found the bank had engaged KPMG to review the issues as early as 29 January 2024, well before it disclosed the matter to stock exchanges on 10 March 2025, Mint reported on 31 May. 'Normally we do not comment on individual banks," Malhotra said. "The banking system is very robust and I also mentioned these episodes will happen and should not bother us too much as long as they are far and few between and limited.' Deputy governor Swaminathan J said the bank had complied with all the requirements set by the RBI. The first was to ensure proper accounting of all discrepancies, backed by internal and external audits, and reflected in the March quarter results. The second was to conduct a forensic audit and hold those responsible to account. The third priority, Swaminathan said, was to ensure that no customer suffered losses or inconvenience. Each of these crises offers RBI some lessons and it sharpens the supervisory tools, he said. 'Going forward, we will look at these kinds of red flags so that we are in a position to anticipate them much in advance. If not immediately but very soon it should settle down and then be back to normal.' Last week, Sebi barred former MD & CEO Sumant Kathpalia and four other senior executives from the market and impounded gains of ₹ 19.78 crore, alleging they sold shares while in possession of unpublished price-sensitive information.
