Page 6 - Funds

India has significant amount of dry capital for startup ecosystem: VCs

Fintechs have been among the five best-performing sectors in terms of funding since 2018, with an exception in 2020 when it came sixth

CM Sukhu distributes Rs 8.97 cr compensation to disaster-affected families

He provided Rs 3 lakh each as the first instalment to 94 affected families whose houses were completely damaged during the disaster in the district of Bilaspur

Karnataka govt seeks Rs 17,901 crore drought relief funds from Centre

The Karnataka government on Wednesday demanded Rs 17,901.73 crore in funds from the Centre to compensate farmers affected due to drought in the Kharif season this year. Karnataka Agriculture Minister N Chaluvaraya Swamy, Rural Development Minister Priyank Kharge, and Revenue Minister Krishna Byregowda met Union Agriculture Secretary Manoj Kumar Ahuja and Home Secretary Ajay Kumar Bhalla separately and updated them about the drought situation in Karnataka. The three state ministers are also members of the Karnataka Cabinet sub-committee on drought management. Briefing the media after the meeting, Byregowda said, "We have sought a total drought relief of Rs 17, 901.73 crore as per the NDRF norms. We have requested the central government to clear the funds at the earliest. As of September 22, the state as a whole recorded 26 per cent deficit rainfall that led to an estimated agriculture and horticulture crop loss in about 45.55 lakh hectares during the kharif season, he said. The sta

Delhi's Municipal Corporation releases funds for Chhath Puja preparations

It further mentioned that the allocation of the budget has been made for the augmentation of street lighting on the approach road to Chhath Ghats

Multi-cap funds are for investors with slightly higher risk appetite: Edelweiss MF

While the large-cap component of a multi-cap fund can take care of near-term volatility, the mid and small-cap component can offer investors the upside that is likely to come in the medium term, said

Banks urge RBI to set up liquidity window for financing of startups

High mortality rates in startups a big worry

Rs 82,000 cr collected under District Mineral Foundation till August: Govt

The mines ministry on Monday said Rs 82,370.79 crore has been collected under the District Mineral Foundation (DMF) till August this year. DMF is a non-profit body working for people and areas affected by mining-related activities in such manner as may be prescribed by the state government. "The total amount of funds collected under DMF comes to Rs 82,370.79 crore and the amount utilised stands at Rs 45,150.21 crore (August)," the Ministry of Mines said. As of August, DMFs have been set up in 644 districts in 23 states/Union Territories, while 17 states/UTs have DMFs in each district, the ministry said. States and UTs that have DMFs in all district include Andhra Pradesh, Bihar, Himachal Pradesh, Kerala, Uttarakhand, Uttar Pradesh, Punjab, Haryana, Chhattisgarh, Jharkhand, and Jammu & Kashmir.

Rs 6,907 cr due from GOI to West Bengal under MGNREGS: Amit Mitra

During a press conference, Mitra criticised the govt of India for not releasing the rightful dues to states, thus affecting rural employment opportunities for 25.4 mn job card holders in WB

Funds came from China to disrupt sovereignty: Police FIR against NewsClick

The Delhi Police, in an FIR filed under anti-terror law UAPA following allegations against news portal NewsClick, has alleged that a large amount of funds came from China in order to disrupt India's sovereignty and cause disaffection against the country. The Delhi Police served a copy of the FIR to the portal on Friday, a day after a city court directed it to do so. According to the FIR, a copy of which is with PTI, Chinese telecom giants have floated thousands of shell companies in India. "In furtherance of this conspiracy to disrupt the sovereignty of India and cause disaffection against India, a large amount of funds was routed from China in a circuitous and camouflaged manner and paid news were intentionally peddled, criticising domestic policies, development projects of India and promoting, projecting and defending policies and programmes of the Chinese government," the FIR says. It also alleges that the founder and editor-in-chief of NewsClick, Prabir Purkayastha, conspired w

Shah approves release of Rs 44.8 cr to provide relief to people in Sikkim

Union Home Minister Amit Shah has approved the release of Rs 44.8 crore as an advance amount from the central share of the State Disaster Response Fund (SDRF) to Sikkim to provide relief to flash floods-affected people. Following a directive from Shah, the Ministry of Home Affairs (MHA) has formed an Inter-Ministerial Central Team (IMCT), which will visit the affected areas of Sikkim soon to make an assessment of the damage caused due to a Glacial Lake Outburst Flood (GLOF), cloudburst and flash floods, according to an official statement. The home minister has approved the release of both the instalments of the SDRF's central share to Sikkim, amounting to Rs 44.8 crore, in advance for 2023-24 to help the northeastern state provide relief to the affected people, the statement said. The Centre has assured the Sikkim government of all possible help. The central government, under the leadership of Prime Minister Narendra Modi, is standing shoulder to shoulder with Sikkim, the statement

NIIF launches $600 mn India-Japan bilateral fund in collaboration with JBIC

Fund aims investments renewables, e-mobility, and circular economy

Nirma to tap into own funds, debt to buy Glenmark Life Sciences

The company had earlier informed banks that it would raise Rs 5,000 crore to Rs 7,000 crore in the current financial year for the acquisition

Hong Kong to tighten regulation of crypto after arrests linked to JPEX

Hong Kong's leader said on Tuesday that the territory will tighten regulation of digital assets after police arrested six people following allegations of fraud at an unlicensed cryptocurrency exchange in the city. The arrests on Monday followed an announcement by Hong Kong's securities watchdog last week that the exchange, JPEX, was unlicensed and did not have authority to operate its cryptocurrency trading platform in the city. The Securities and Futures Commission said it had received more than 1,400 complaints against JPEX involving more than 1 billion Hong Kong dollars (USD 127.9 million) in losses. The SFC also said some investors said complained of being unable to withdraw their virtual assets from JPEX accounts or of finding their balances were reduced and altered. The SFC and police were expected to release details on the case later Tuesday. Hong Kong's chief executive, John Lee, told reporters Tuesday that the government would step up efforts to educate investors and remi

Centre allotted Rs 862 cr: Thakur's swipe at HP govt over funds claim

Thakur also hit out at the ruling Congress government in the state for cribbing over funds crunch

UN food agency warns of 'doom loop' for world's hungriest as govts cut aid

The World Food Program warned Tuesday that humanitarian funding cuts by governments are forcing the U.N. agency to drastically cut food rations to the world's hungriest people, with each 1% cut in aid risking to push 400,000 people toward starvation. The agency said the more than 60% funding shortfall this year was the highest in WFP's 60-year history and marks the first time the Rome-based agency has seen contributions decline while needs rise. As a result, the WFP has been forced to cut rations in almost half its operations, including in hard-hit places like Afghanistan, Syria, Somalia and Haiti. In a statement, WFP warned that 24 million more people could slip into emergency hunger over the next year as a result. WFP's executive director, Cindy McCain, said with starvation at record levels, governments should be increasing assistance, not decreasing it. If we don't receive the support we need to avert further catastrophe, the world will undoubtedly see more conflict, more unrest

Multi-asset allocation fund: Invest for a diversified, low-risk portfolio

But steer clear of them if you desire complete control over asset allocation

Sebi announces new disclosure requirements for select offshore funds

The funds will have 10 days to lower their investment to below 50% to avoid the enhanced disclosures

Kids brand Aretto raises Rs 4.5 cr in funds, Hardik Pandya leads funding

Kids footwear brand Aretto has raised USD 550,000 (about Rs 4.5 crore) in a funding round led by cricketer Hardik Pandya, and investment banking firm Veromint Advisors. Other investors in the round included Bombay Shaving Company ex-chief marketing officer Raunak Munot, VegNonVeg co-founder and founder of Brewhouse Abhineet Singh, Aan group managing Director (MD) Shyam Raichura, VideoVerse Co-Founder Vinayak Shrivastav and Julius Baer MD Kunal Sumaya. The company -- founded in 2020 by Satyajit Mittal and Krutika Lal -- said it will use the funds to expand its market presence, team, research and development.

Inox Wind promoters infuse Rs 500 cr in company for repayment of debt

Wind energy solutions provider Inox Wind on Thursday said its promoter and promoter group entities have infused Rs 500 crore in the company for debt repayment. The funds were raised by way of equity share sale of Inox Wind by its promoter and promoter group entities through block deals on the stock exchanges, a regulatory filing said. The funds will be utilized for the repayment of IWL's existing debt, it added. "Inox Wind announced the infusion of Rs 500 crores (before taxes and other charges) by its promoter and promoter group entities," it said. This strategic move marks a significant milestone in Inox Wind's journey towards financial sustainability, it stressed. Kailash Tarachandani, the CEO of Inox Wind, said "the recent fundraising initiative led by IWL's promoters and the subsequent capital infusion significantly reinforces our financial strength and empowers us with enhanced flexibility for future growth endeavours." Inox Wind is a part of the USD five billion INOXGFL ...

CapitaLand launches SGD 525 million fund to invest in business parks

CapitaLand Investment Ltd on Thursday said it has launched an SGD 525 million fund to invest in premium business parks across major cities in India. In a statement, CapitaLand Investment Ltd (CLI) said it has "launched a business park development fund CapitaLand India Growth Fund 2 (CIGF2), with a target fund size of Singapore dollar 525 million to invest in Grade A business parks in prime locations across gateway cities in India." CLI has secured SGD 263 million (about Rs 16.3 billion) from a global institution for a 50 per cent stake in the fund's first closing. It intends to maintain a sponsor stake of 20 per cent in the fund, in line with its asset-light strategy to grow its funds under management (FUM). Including CLI's equity contribution for the 20 per cent stake, the total equity commitment for the first closing is Singapore dollar 368 million (about Rs 22.9 billion). This is expected to add approximately SGD 700 million to its FUM. The fund has already acquired an equity