#UTI Asset Management Company Limited

[dhallblogs]

UTI AMC Collaborates with Salesforce to Enhance Customer Engagement.

Bengaluru: UTI Asset Management Company Limited (UTI AMC) has announced a collaboration with Salesforce to streamline customer engagement and enhance operational efficiency. This partnership aims to transform customer interactions through trust, transparency, and personalized service.

ALSO READ MORE- https://apacnewsnetwork.com/2024/07/uti-amc-collaborates-with-salesforce-to-enhance-customer-engagement/

[blogynews]

"Revolutionizing the Financial Landscape: UTI AMC Welcomes Anurag Mittal as the Mastermind Behind Their Game-Changing Fixed Income Strategies"

UTI Asset Management Company Limited (UTI AMC) has announced the appointment of Anurag Mittal as the Head of Fixed Income, effective from October 1, 2023. Anurag joined UTI AMC in 2021 as the Deputy Head of Fixed Income and has been overseeing the management of important funds for the company. Speaking about the promotion, Imtaiyazur Rahman, the Managing Director & CEO of UTI AMC, expressed his…

[blogynewz]

"Revolutionizing the Financial Landscape: UTI AMC Welcomes Anurag Mittal as the Mastermind Behind Their Game-Changing Fixed Income Strategies"

UTI Asset Management Company Limited (UTI AMC) has announced the appointment of Anurag Mittal as the Head of Fixed Income, effective from October 1, 2023. Anurag joined UTI AMC in 2021 as the Deputy Head of Fixed Income and has been overseeing the management of important funds for the company. Speaking about the promotion, Imtaiyazur Rahman, the Managing Director & CEO of UTI AMC, expressed his…

[blogynewsz]

"Revolutionizing the Financial Landscape: UTI AMC Welcomes Anurag Mittal as the Mastermind Behind Their Game-Changing Fixed Income Strategies"

UTI Asset Management Company Limited (UTI AMC) has announced the appointment of Anurag Mittal as the Head of Fixed Income, effective from October 1, 2023. Anurag joined UTI AMC in 2021 as the Deputy Head of Fixed Income and has been overseeing the management of important funds for the company. Speaking about the promotion, Imtaiyazur Rahman, the Managing Director & CEO of UTI AMC, expressed his…

[kikusharma9001]

Introduction To Portfolio and Portfolio Management

The first question is, "What is a Portfolio?" When investors purchase various financial assets such as gold/silver/precious stones/real estate/buildings and lands/insurance policies/bank/postal deposits, etc., they are planning for the future and building a portfolio of assets.

Definition

Many times, investors continue to engage in these assets in an impulsive and unplanned manner, which can lead to a high risk, poor return profile. All of these assets would make up his portfolio, which the wise investor would design according to his risk-return preferences. The wise investor would also manage his portfolio effectively to get the maximum return for the lowest risk at that level of investment. This is the portfolio management, to put it briefly.

Investors are making provisions for the future as they purchase various sets of financial assets, such as gold, silver, real estate, buildings, insurance policies, post office certificates, NSC or NSS, etc. Prior to making any such investment, one must understand the risk. The typical homeowner often retains the majority of their income in cash or bank deposits because they believe they are the safest and least dangerous options. He is unaware that they also carry a risk, which is the worry that these assets will be stolen, lost, or really lose value due to price increases or economic inflation. Bank deposits have a nominal interest rate of 3.5% on savings deposits, no interest on current accounts, and a maximum of 7.5% on term deposits or fixed deposits. Cash carries no interest or income. Fixed deposit liquidity is bad since one must either wait for the deposit to mature or take out a loan against it at a penalty rate, which results in a loss of revenue. Risk-averse investors often only invest in banks, PO, UTI, and mutual funds. For the typical householder in the middle- and lower-income classes, gold, silver real estate, Nidhis, and chit funds are the other investment options. 

Investors would need to place their money in investments that were comparatively riskier, like company shares and debentures, government and semi-government agency bonds, or deposits with businesses and enterprises, if they wanted a real rate of return that was significantly higher than the inflation rate. the spending of Chit money. Nidhis, corporate deposits, and private limited corporations carry the highest level of risk. Since the fundamental axiom is that the greater the risk, the greater the potential gain, the investor should have a solid understanding of the components of risk and return when he makes investments. For the management of assets and portfolios, risk-return analysis is therefore essential.

Portfolio Management

But there is always a risk factor involved, including the potential for loss, actual loss, theft, and loss of the real worth of these assets due to price inflation or the economy as a whole. If an investor wants a real rate of return that is significantly greater than the rate of inflation, he must invest in comparatively riskier asset classes such company shares and debt obligations, government and semi-government agency bonds, and company deposits. Planning investments based on risk tolerance or preferences and managing them effectively to maximize return while minimizing risk are both terms used to describe portfolio management. Management of a portfolio entails planning.

Portfolio management involves:

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• Making wise decisions about what to buy and sell while making investments.

• Effective money management, including investments in a variety of assets to meet investors' asset preferences.

• Lower the risk and boost rewards.

• The goal of portfolio management is to minimize risk while maximizing return. A portfolio is a collection of investments or assets that are owned by a person or a business.

The Governor of Rajasthan, the Honorable Sri Karaj Mishra, presented Dr. Vinay Prakash Tiwari with an appreciation for creating the LTP Calculator.

[ritikakukreti]

Mastering the Global Investment Terrain: The Roadmap to Becoming a Global Portfolio Manager

Introduction:

Amidst the rapid globalization of finance, the world seeks experts who can adeptly manage investments across continents. The position of a Global Portfolio Manager has thus emerged as a coveted role in this scenario. But how does one carve out a path to this esteemed position? More specifically, how can an MBA in International Finance be the stepping stone to this global financial journey? Read on to unravel the roadmap to success.

Deciphering the Significance of an MBA in International Finance:

Embarking on the MBA voyage, especially in International Finance, is akin to equipping oneself with a multifaceted financial compass. Here’s why:

Holistic Exposure: A Master of Business Administration bridges the gap between academic theories and real-world application, nurturing strategic thinkers ready to handle global assets.

Worldwide Connections: Whether pursuing an on-campus or Online MBA, the international networks you forge can be invaluable in the global finance arena.

Case Study Methodology: Through the analysis of real-world financial scenarios, MBA programs offer a unique insight into global markets.

Navigating Various Industries:

A Global Portfolio Manager's expertise isn't confined to traditional banking. Several sectors beckon:

Real Estate: Managing global property assets, understanding international property laws, and more.

Technology: As tech companies grow, so does their global financial footprint.

Healthcare: With healthcare turning global, there's a burgeoning need for professionals to manage cross-border investments.

Energy: As countries diversify their energy sources, this sector’s global investments are skyrocketing.

Challenges on the Horizon:

The path isn't without its hurdles:

Evolving Markets: With global markets constantly in flux, staying updated is pivotal.

Regulatory Labyrinths: Every country has its own financial regulations, understanding each is crucial.

Cultural Sensitivities: Investment isn’t just about numbers; it's about understanding the cultural nuances affecting those numbers.

Indian Companies Leading the Global Portfolio Frontier:

The subcontinent is fast emerging as a hub for financial experts. Here are top firms in India scouting for Global Portfolio Managers:

ICICI Prudential Asset Management Company

HDFC Asset Management Company

Reliance Nippon Life Asset Management

SBI Funds Management Pvt Ltd

Kotak Mahindra Asset Management Company

Aditya Birla Sun Life AMC Limited

UTI Asset Management Company Ltd

Axis Asset Management Company Ltd

DSP Investment Managers Pvt Ltd

Franklin Templeton Asset Management (India) Pvt Ltd

Weighing the MBA Decision:

Before diving into the MBA in International Finance:

Financial Commitment: It's an investment, both time-wise and financially.

Opportunity Cost: A full-time MBA takes you out of the job market temporarily.

Career Leap: However, post-MBA, the trajectory often takes a steep upward curve in terms of roles and remuneration.

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Conclusion:

To steer through the world of global investments, one requires more than just financial acumen. An MBA in International Finance molds you into a professional ready for this challenge. As India cements its place in the global finance realm, the opportunities for a Global Portfolio Manager in the country have never been so plentiful. Are you ready to grab yours?

[assuredplus]

What is Shariah Fund in Mutual fund?

What is Shariah Fund in Mutual fund?

A Shariah fund, also known as an Islamic fund, is a type of investment fund that operates in accordance with Islamic principles and guidelines. Shariah funds adhere to the principles of Islamic finance, which prohibit the earning or payment of interest (riba) and the investment in businesses that are considered haram (forbidden), such as alcohol, gambling, or pork-related products.

Here are some key details and characteristics of Shariah funds:

Investment Principles: Shariah funds follow Islamic investment principles, which include avoiding interest-based transactions (riba), speculative investments (gharar), and investments in businesses that are deemed non-compliant with Islamic principles (haram). Instead, they focus on ethical and socially responsible investments.

Screening Process: Shariah funds employ a screening process to determine the compliance of potential investments. This process is typically conducted by a board of Islamic scholars or experts in Islamic finance. The screening criteria may vary, but commonly used criteria include avoiding companies involved in prohibited activities (e.g., alcohol, gambling, tobacco) and ensuring financial ratios meet specific thresholds.

Investments: Shariah funds invest in Shariah-compliant assets, such as equities (stocks), sukuk (Islamic bonds), real estate, commodities, and Islamic financial instruments. These investments should be in line with Islamic principles and should not involve prohibited activities or businesses.

Profit-Sharing Structure: Shariah funds often adopt a profit-sharing structure known as "Mudarabah" or "Wakalah." In a Mudarabah structure, the investors provide the capital, while the fund manager acts as the entrepreneur. The profits generated are distributed between the investors and the fund manager based on a predetermined ratio. In a Wakalah structure, the fund manager is appointed as an agent to manage the funds, and the investors bear the investment risks.

Regular Compliance Monitoring: Shariah funds have dedicated Shariah supervisory boards or committees responsible for monitoring the fund's compliance with Islamic principles. These boards ensure that the investments and activities of the fund remain Shariah-compliant.

Transparency: Shariah funds typically provide regular reports to investors, detailing the fund's performance, asset allocation, and compliance with Shariah principles. Investors can assess the fund's adherence to Islamic guidelines and make informed decisions.

It's important to note that the specific details and characteristics of Shariah funds may vary between different financial institutions and jurisdictions. If you are considering investing in a Shariah fund, it's advisable to consult with a qualified financial advisor or Islamic scholar who can provide guidance based on your specific requirements and circumstances.

Which are the companies doing Shariah Funds in India?

As of my knowledge, there are several companies in India that offer Shariah-compliant funds. However, please note that the availability and specific offerings may have changed since then. Some of the prominent companies known for providing Shariah-compliant funds in India include:

Tata Asset Management Limited

Franklin Templeton Asset Management (India) Pvt. Ltd.

Reliance Asset Management (India) Pvt. Ltd.

UTI Asset Management Company Ltd.

SBI Funds Management Pvt. Ltd.

IDFC Asset Management Company Ltd.

BNP Paribas Asset Management India Pvt. Ltd.

Axis Asset Management Company Ltd.

ICICI Prudential Asset Management Company Ltd.

Kotak Mahindra Asset Management Company Ltd.

It’s important to note that the availability and specific offerings of Shariah- compliant funds may vary, so it’s advisable to research the current offerings and consult with a financial advisor or the respective companies for up-to-date information.

#assuredplus #financialadvisor #mutualfundagent #mutualfunddistributor #mutualfundconsultant

[rajeev-sharma1504]

UTI Capital Official Website

UTI Capital Private Limited is a multi-asset class alternative investment management platform of UTI AMC – India’s oldest mutual fund company with an AUM of $178 Bn. as on March 31, 2022.

UTI Capital manages private market investment strategies across various segments in India – Credit, Real Estate and Equity.

[daily-media]

Chartered Accountant to The Chairman of BSE, Life of S Ravi Keeps Souring to Heights.

Sethurathnam Ravi (S Ravi BSE) founded Ravi Rajan & Co. Presently, Mr. Ravi holds the position of Non-Executive Chairman of Tourism Finance Corp. of India Ltd. and Director & Managing Partner at RRCA & Associates. Mr. Ravi is also Associate Member at Association of Certified Fraud Examiners, Member of The Institute of Chartered Accountants of India, Director & Managing Partner at Ravi Rajan & Co. and Member-MOU Department at India Department of Public Enterprises and on the board of 15 other companies. In his past career he held the position of Chairman for BSE Ltd. and Union Finance & Revenue Secretary at India Ministry of Finance. Mr. Ravi received a graduate degree from Rani.

Sethurathnam Ravi, famously known as S Ravi is a chartered accountant who is based in India. Additionally, he is also the managing partner as well as a promoter of Ravi Rajan & Co. Besides this, S Ravi is also known as the former chairman of BSE or Bombay Stock Exchange. 

In terms of education, S Ravi has achieved both his bachelor’s and master’s degrees in the field of commerce at Durgavati University which is situated in Madhya Pradesh. Thus, he is a well-qualified man of knowledge with extreme experience in the financial and management fields. 

Achievements

Speaking of achievements, S Ravi  BSE  has served as an Independent Director of the Tourism Finance Corporation of India.  By 2019, he was one of the Board Directors of SBI Payment Services Pvt.  Ltd.  Prior to joining BSE, he served on the boards of several companies, including SBI-SG Global Securities, UTI Company Limited, SMERA Ratings, BOI Merchant Bankers and STCI Finance.  He is also a member of SEBI's takeover panel with ICAI or the Institute of Chartered Accountants of India.

S Ravi was the former BSE chairman from November 2017 to February 2019 affirmatively. He was appointed chairman of the BSE based on his knowledge and experience in gaining several positions on various boards of banks, along with asset management companies and financial institutions in the respective financial sectors.  He is currently the Founder and Managing Partner of Ravi Rajan & Company, a consultancy and accountancy firm based in Delhi, India. 

This BSE Chairman proudly holds his DISA or Diploma in Information Systems Audit.  In addition, he is a competent and respected member of the CFE or the Association of Certified Fraud Examiners, along with a registered bankruptcy resolution professional.  Similarly, as a BSE Chairman, he has a role to play in companies related to financial and asset management in the financial sector.  Therefore, during his tenure as BSE Chairman, S Ravi did his best for the overall progress.

S Ravi's tenure spans over three decades, with extensive experience in banking, finance, management, financial consulting, appraisal, mergers, acquisitions, auditing and rehabilitation of correspondent companies and intermediate banks. And the reorganization of companies that pursue diversionary strategies.

Thus, S Ravi has often served as the Speaker of the Correspondence Regular Bodies RBI, SEBI and ICAI from time to time. Mr. Ravi firmly believes that women should be given the same rights as men and should be helped to resolve issues related to this issue.  In addition, he is passionate about other burning topics such as sports, education, and global climate change.

Former BSE Chairman Sethurathnam Ravi strongly believes that all potential investors should be vigilant in the face of any impending crisis.  Care must be taken when making an informed decision.  In addition, the BSE Chairman emphasized on the issue that he has a firm vision to get BSE a 22-hour trading format. Historically, it has been observed that some investors somehow overreact to positive developments.

[blogynews]

"Unlocking Success: UTI AMC Empowers Employees with 8,835 Equity Shares in Groundbreaking ESOP Move"

UTI Asset Management Company Limited (UTI AMC) has announced the approval of the allotment of 8,835 equity shares to eligible employees under the ‘UTI AMC Employee Stock Option Scheme – 2007’. This decision was made by the Nomination and Remuneration Committee of UTI Asset Management Company Limited, as stated in an exchange filing. The equity shares have a face value of Rs 10 each. Following the…

[blogynewz]

"Unlocking Success: UTI AMC Empowers Employees with 8,835 Equity Shares in Groundbreaking ESOP Move"

UTI Asset Management Company Limited (UTI AMC) has announced the approval of the allotment of 8,835 equity shares to eligible employees under the ‘UTI AMC Employee Stock Option Scheme – 2007’. This decision was made by the Nomination and Remuneration Committee of UTI Asset Management Company Limited, as stated in an exchange filing. The equity shares have a face value of Rs 10 each. Following the…

[blogynewsz]

"Unlocking Success: UTI AMC Empowers Employees with 8,835 Equity Shares in Groundbreaking ESOP Move"

UTI Asset Management Company Limited (UTI AMC) has announced the approval of the allotment of 8,835 equity shares to eligible employees under the ‘UTI AMC Employee Stock Option Scheme – 2007’. This decision was made by the Nomination and Remuneration Committee of UTI Asset Management Company Limited, as stated in an exchange filing. The equity shares have a face value of Rs 10 each. Following the…

[freepressjournals]

Sethurathnam Ravi, From CA to Chairman of BSE

Sethurathnam Ravi, famously known as S Ravi is a chartered accountant who is based in India. He is also the managing partner as well as promoter of Ravi Rajan & Co. Besides this, S Ravi is also known as the former chairman of BSE or Bombay Stock Exchange. This BSE Chairman proudly holds his DISA or Diploma in Information Systems Audit.

Sethurathnam Ravi known as S Ravi, the former BSE chairman, started his career as an account and the managing partner of Ravi Rajan & Co. He has experience of holding several positions on the board of banks, financial institutions and asset management companies in the financial sector.

His qualifications include B. Sc., M. Com., FCA, DISA, Insolvency Professional and Associate Member of Association of Certified Fraud Examiners (CFE), USA. S Ravi with his vast knowledge and an in 31 years of experience has served in many vital roles. He had held board positions in Banking Sector, Mutual Funds, Home Finance, Capital Markets, Public Sector Companies and Public Limited Companies.

S Ravi BSE served as a director on boards of various companies such as UTI Trustee Company, S Ravi Financial Management Services, SMERA Ratings, SBI-SG Global Securities, IDBI Bank, STCI Finance, Tourism Finance Corporation of India and BOI Merchant Bankers. Besides, he was member of the working group, constituted by Ministry of Heavy Industries & Public Enterprises, for suggesting possible modalities for creation of an institutional structure on corporate social responsibilities matters.

During his various board positions, S Ravi has been on various committees such as Audit, Strategic Revival, NPA Management, Risk Management, Shareholders/ Investors Grievance, Remuneration, Fraud Monitoring, Customer Service, Asset Liability Management, IT Strategy, Human Resources, Ethics & Financial Management, Dispute Resolution and Project Appraisal.

The former BSE chairman, was also a member of various professional and regulatory committees such as SEBI’s Takeover Panel, Task Force of Department of Public Enterprises – Govt. of India and ICAI’s Committee on Banking, Insurance & Pension, and Committee on Information Technology.

Eminent chartered accountant S Ravi was then appointed as the chairman of the leading stock exchange BSE in 2017 replacing Dhirendra Swarup. He was the public interest director at the BSE during the appointment as the BSE chairman. He exited role if Chairman, Public Interest Director, of BSE Limited from Nov’17 till Feb’19.

S Ravi, the former BSE chairman, is now the board or advisory panner of 10 institutions. He also heads his own firm founded in 1989, by Mr. S. Ravi, Ravi Rajan & Co. LLP is a Chartered Accountants firm with its head office in New Delhi and branches in Thane, Bengaluru, Noida & Faridabad.s

Presently, he is the chairman of UTI Trustee Pvt Limited and Tourism Finance Corporation of India and Independent Director on the board of Star union Dai-ichi Life Insurance Company Limited and Independent Director of Aditya Birla Health Insurance Company Ltd. Cum Chairman of the Audit Committee.

[brazilnews]

Ebixcash Appoints Eminent Accounting, Regulatory & Banking Sector Leader S Ravi To Its Board Of Directors

His rich experience includes having served as the Chairman of Bombay Stock Exchange - BSE Ltd and as the Chairman of UTI Trustee Company Pvt Ltd, one of India’s largest mutual funds.

EbixCash Private Limited, a subsidiary of Ebix Inc, a leading international supplier of On-Demand software and E-commerce services to the insurance, financial, healthcare and e-learning industries today announced the appointment of Mr. S Ravi, as a new independent director to the EbixCash Board. Ravi brings a vast repertoire of experience across banks, financial institutions, insurance companies, tourism industry, stock exchanges and asset management areas - having held Board positions in eminent organizations across these sectors.

S Ravi Former BSE Chairman is presently serving as the Chairman and Director of Tourism Finance Corporation of India Ltd. – the premier government owned financial Institution, set-up to promote tourism in India. He also presently serves on the boards of Aditya Birla Health Insurance Company Ltd., Star Union Dai-ichi Life Insurance Company Ltd., Aditya Birla ARC Ltd., IIFL Asset Management Ltd. and SBI Payment Services Pvt. Ltd.

His rich experience includes having served as the Chairman of Bombay Stock Exchange - BSE Ltd and as the Chairman of UTI Trustee Company Pvt Ltd, one of India’s largest mutual funds. He has served on the boards of over 40 leading institutions in India, including insurance companies, a number of public sector banks and public sector enterprises such as UCO Bank, Union Bank, Hindustan Aeronautics Ltd., BHEL and SBI - SG Global Securities Services Pvt Ltd. He was also appointed by Government of India and Reserve Bank of India (RBI) as Chairman of the Technical Experts Committee for Punjab & Sind Bank’s strategic turnaround.

S Ravi was nominated as member of the Takeover panel of the Security & Exchange Board of India (SEBI), besides serving on its Mutual Fund Advisory Committee. Ravi has also served on India’s Insurance Regulatory Development Authority (IRDA) as a member of its Insurance Advisory Committee. He is a member of BusinessWorld’s Jury for Festival of FinTech 2021 and served as a jury member on the  Institute of Chartered Accountants of India team, that selected the Award for Excellence in Financial Reporting for the year 2012-13.

S Ravi said, “EbixCash has built a global presence today with clients in 44 countries and a leading presence in India in multiple financial technology segments. EbixCash has also become a bellwether in the remittance, foreign exchange and money transaction space. I am extremely glad to join the board of Ebixcash and to be a part of their journey in India.”

“Ravi has a deep understanding of the sectors in which EbixCash operates, built from his tenures at multiple banks, financial institutions, regulated financial intermidiaries and insurance companies, his broad regulatory experience at IRDA, SEBI and RBI and his experience as a chartered accountant.” Robin Raina, Chairman, President & CEO Ebix Inc, said. “As the Chairman of Tourism Finance Corporation of India, he also has a thorough understanding of the travel industry. All of these attributes are extremely valuable to his role on the EbixCash Board as we chart our next cycle of growth and progress towards the prospective IPO.”

S Ravi is the Founder and Managing Partner of Ravi Rajan & Co. LLP, a chartered accountancy firm specialising in Forensic Audits, Audits & Assurance,  Insolvency Assignments and Turn around Strategies, Valuations and Regulatory Compliance Advisory.

Recent EbixCash Announcements -

Last week, the Company announced the appointment of Former Chief Economist/ Former Director of the Division of Economic and Risk Analysis at the US Securities and Exchange Commission; and MIT Sloan School of Management Economist and Professor SP Kothari to the EbixCash Board.

A fortnight back, the Company announced the appointment of Grant Thornton India’s audit affiliate, along with KG Somani & Co as the joint statutory auditors for EbixCash. KGS is one of India’s highly respected national audit firms while Grant Thornton is one of the six largest audit fIrms internationally.

[livewellnews]

EbixCash Appoints Eminent Banking Sector Leader-S Ravi Bse To Its Board Of Directors

​EbixCash Private Limited today announced the appointment of  S Ravi Bse, as a newindependent director to the EbixCash Board.

EbixCash Private Limited, a subsidiary of Ebix, Inc. (NASDAQ: EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance, financial, healthcare and e-learning industries today announced the appointment of  S Ravi Bse, as a new independent director to the EbixCash Board. Ravi brings a vast repertoire of experience across banks, financial institutions, insurance companies, tourism industry, stock exchanges and asset management areas – having held Board positions in eminent organizations across these sectors.

S Ravi Bse is presently serving as the Chairman and Director of Tourism Finance Corporation of India Ltd. – the premier government owned financial Institution, set-up to promote tourism in India. He also presently serves on the boards of Aditya Birla Health Insurance Company Ltd., Star Union Dai-ichi Life Insurance Company Ltd., Aditya Birla ARC Ltd., IIFL Asset Management Ltd. and SBI Payment Services Pvt. Ltd.

His rich experience includes having served as the Chairman of Bombay Stock Exchange – BSE Ltd and as the Chairman of UTI Trustee Company Pvt Ltd, one of India’s largest mutual funds. He has served on the boards of over 40 leading institutions in India, including insurance companies, a number of public sector banks and public sector enterprises such as UCO Bank, Union Bank, Hindustan Aeronautics Ltd., BHEL and SBI – SG Global Securities Services Pvt Ltd. He was also appointed by Government of India and Reserve Bank of India (RBI) as Chairman of the Technical Experts Committee for Punjab & Sind Bank’s strategic turnaround.

S Ravi Bse Selection at SEBI:

Ravi was nominated as member of the Takeover panel of the Security & Exchange Board of India (SEBI), besides serving on its Mutual Fund Advisory Committee. Ravi has also served on India’s Insurance Regulatory Development Authority (IRDA) as a member of its Insurance Advisory Committee. He is a member of BusinessWorld’s Jury for Festival of FinTech 2021 and served as a jury member on the  Institute of Chartered Accountants of India team, that selected the Award for Excellence in Financial Reporting for the year 2012-13. S Ravi Bse said, “EbixCash has built a global presence today with clients in 44 countries and a leading presence in India in multiple financial technology segments. EbixCash has also become a bellwether in the remittance, foreign exchange and money transaction space. I am extremely glad to join the board of Ebixcash and to be a part of their journey in India.”

Sethurathnam Ravi Deep Understand about EbixCash:

“Ravi has a deep understanding of the sectors in which EbixCash operates, built from his tenures at multiple banks, financial institutions, regulated financial intermidiaries and insurance companies, his broad regulatory experience at IRDA, SEBI and RBI and his experience as a chartered accountant.” Robin Raina, Chairman, President & CEO Ebix Inc, said. “As the Chairman of Tourism Finance Corporation of India, he also has a thorough understanding of the travel industry. All of these attributes are extremely valuable to his role on the EbixCash Board as we chart our next cycle of growth and progress towards the prospective IPO.” Ravi is the Founder and Managing Partner of Ravi Rajan & Co. LLP, a chartered accountancy firm specialising in Forensic Audits, Audits & Assurance, Insolvency Assignments and Turn around Strategies, Valuations and Regulatory Compliance Advisory.

[supernews]

SBI planning to offload 6% stake in AMC through initial public offer

The country’s largest lender, State Bank of India (SBI,) is planning to offload a 6 per cent stake in its mutual fund subsidiary SBI Funds Management Private Ltd (SBI mutual fund) through an initial public offer (IPO). The lender however, has not indicated a timeline for coming to the market with a public offer.

The executive committee of the bank's central board has accorded approval for exploring possibilities to offload a 6 six per cent stake of the bank in SBI Funds Management Private Limited through IPO route. The move is subject to receipt of all regulatory approvals, the bank said in filing with the BSE.

SBI currently holds 63 per cent stake in the mutual fund company and the remaining 37 per cent stake is held by AMUNDI Asset Management through a wholly owned subsidiary, Amundi India Holding.

The other asset companies listed on exchanges are UTI Asset Management, Aditya Birla Sun Life Asset Management Company and Nippon Life India Asset Management Ltd.

SBI has maintained that it is looking to monetise a part of its stake in the subsidiaries by listing them on the stock exchange. The monetisation is expected to bring in capital for parent SBI. Apart from the mutual fund company, the bank had also indicated that it would list the general insurance company.

The other SBI group entities already listed on exchanges include SBI Cards and SBI Life Insurance.