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Markets regulator Sebi on Tuesday proposed introducing gift cards or gift prepaid payment instruments (PPIs) for investments in mutual funds to improve financial inclusion through onboarding of new investors in the space. Under the proposal, the purchaser of Gift PPI can gift the prepaid payment instrument to a recipient, who can then use the instrument to subscribe to mutual fund units, Sebi said in its consultation paper. These PPIs will be funded only through electronic bank transfer or UPI from an Indian bank account with a validity period of one year from date of issuance. Sebi suggested a cap of Rs 50,000 per investor per financial year for investments made through gift PPIs. "The RTAs, on behalf of AMCs will track how much each investor has invested per AMC per financial year through Gift PPI, e-wallets and cash. If the transaction resulting from a Gift PPI redemption crosses Rs 50,000, the RTA will reject the transaction, and the PPI face value will be refunded to the issue
Equity market corrections following the Middle East conflict present a "tremendous opportunity" for foreign portfolio investors to up their bets in India, a senior Sebi official said on Thursday. Kamlesh Chandra Varshney, a whole-time member at the capital markets regulator, said the Indian capital market is "quite attractive" now and presents a good opportunity to investors registered as FPIs. "There is a tremendous opportunity to invest in the Indian equity market with the kind of direction which has taken place now in the last few months, particularly after the war that has broken out," he said, speaking at a Russia-India forum for integration of capital markets here. FPIs continue to be net sellers in the Indian markets in FY26, and in the first 12 days of March alone, there has been a sell-off of over Rs 77,000 crore by them, as per reports. Speaking at the event, Varshney assured all help to facilitate Russian investments into the country and also proposed setting up working
Honda Motorcycle & Scooter India on Thursday said it will invest around Rs 1,500 crore to set up a third production line at its Tapukara-based manufacturing plant in Rajasthan. The new production line is expected to begin operations in 2028 with an annual capacity of 6.7 lakh units, taking the total capacity of the factory to 2.01 million units per year. It will also generate employment opportunities for over 2,000 people, further contributing to development of the region. "India is entering a new phase of mobility transformation, and HMSI is committed to leading this journey with responsibility and purpose. Strengthening our production ecosystem at Tapukara is an important step towards building greater resilience, flexibility, and future readiness across our supply chain," Honda Motorcycle & Scooter (HMSI) India President & CEO Tsutsumu Otani said in a statement. The expansion will help the company respond more effectively to market demand and continue delivering value ...
Dubai-based Solstice Data has officially entered into a Memorandum of Understanding (MoU) to launch a massive investment project at an outlay of Rs 52,600 crore at the KINFRA Industrial Park in Mattannur in Kannur district. As part of the landmark agreement, 100 acres of land within the park will be allocated to the company to facilitate the development of its facilities, according to an official statement on Sunday. The MoU was formally exchanged in Thiruvananthapuram between Raj Babu Thulaseedharan, Country Head (India) of Solstice Data, and Santhosh Koshy Thomas, Managing Director of KINFRA, it said. The ceremony took place in the presence of Industries Minister P Rajeev and Director of Industries P Vishnuraj on Saturday. Solstice Data is a global leader in designing, developing, and operating advanced AI-driven High-Performance Computing (HPC) data centers. Beyond its headquarters in Dubai, the company manages over sixty data center projects across various international locati