The failure to acquire UTI AMC is a blow to its efforts to rev up the financial services side of the group.
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SBI is in discussions with its French partner on the contours of a near Rs 20,000-crore listing of the mutual fund house. But challenges in the form of a unique shareholder agreement and the recent poor performance of the AMC could derail plans.
While paying heed to the growing concerns of mutual funds around how mandatory investment norms are affecting junior employees, the market regulator has ensured the industry remains accountable to investors.
A SEBI crackdown has revealed that Bharat Global Developers Ltd used every trick in the book to drive up its share price so its preferential stockholders could make a killing. What remains unexplained though is the little-known firm’s dealings with Reliance.