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BSE and Federal Bank join hands to promote listing of SMEs and Startups

BSE, India’s premier exchange and the world’s fastest Stock Exchange with a speed of 6 microseconds, signed an MoU with Federal Bank, a leading private sector Bank to promote listing of SMEs & Startups on the BSE, SME & Startup platform. Federal Bank and BSE shall evaluate SMEs and Startups undergoing listing process.

Commenting on the association, Shri Ajay Thakur, Head – BSE, SME & Startups, said “We are excited to partner with Federal Bank and this collaboration will enable us to tap the large SME & Startup client base of Federal Bank spread across the country and educate them on the benefits of listing. It is yet another step in our endeavour to further penetrate the SME and Startup ecosystem and provide them the platform for equity financing.”

Commenting on the association, Shri Harsh Dugar, Group President & Country Head – Federal Bank, Wholesale BankingCorporate & Institutional Banking said “We are delighted to partner with BSE on the SME and startups space. As one of India's foremost tech-led banks, this is an area of sharp focus for us. Our full-stack product suite and our deep understanding of this sector makes us a banker of choice to the SME ecosystem, and we are confident of significant synergies that both our institutions can derive from this partnership.” Till date 364 SMEs have listed on the BSE SME platform and 14 companies have listed on BSE Startups platform.

UN Refugee Agency accepts first Stablecoin crypto donation from Binance Charity to support Ukraine's efforts

USA for UNHCR, the UN Refugee Agency, accepts its first Stablecoin crypto donation towards the organisation’s humanitarian support for families forced to flee Ukraine to neighbouring countries. The USD 2.5 million donation from Binance is through Binance Charity to support Ukraine. The BUSD donation is a further demonstration of how cryptocurrency is playing a key role in raising vital funds and providing humanitarian aid for the crisis in Ukraine. Stablecoins bridge the world of cryptocurrency and fiat currency together as their prices are tied to a reserve asset like the US dollar or gold.

The donation will go towards providing humanitarian, legal & social assistance including psychosocial support and emergency shelter to people in need. More than 10 million people have already been displaced due to the crisis. Four million people have found safety in neighbouring countries like Poland, Moldova, Romania, and Hungary while millions more have been forced from their homes but remain inside Ukraine.

“Binance Charity’s commitment to the families fleeing the war in Ukraine shows the innovative philanthropic power of crypto in action,” said Anne-Marie Grey, Executive Director and CEO of USA for UNHCR. “This generous support will make a life-changing difference for families forced to flee, and more importantly, it shows families that a caring and committed global community is stepping forward to help during their darkest times.”

Helen Hai, Head of Binance Charity, said, “Every day we see more casualties, more destruction, more lives lost. Our hearts ache for the people of Ukraine. We are proud that we’ve been able to work with UNHCR to deliver its first BUSD crypto donation. UNHCR’s tireless efforts and second-to-none experience in assisting refugees make them an obvious choice to support as part of our $10 million USD in crypto donations.”

Outside Ukraine, UNHCR continues to work with national authorities in neighboring countries to strengthen reception capacity as well as implement Blue Dots (children and family protection support hubs) in collaboration with UNICEF and other partners.

BSE StAR MF records a new high with 1.96 crore transactions in March 2022 and 18.47 crore transaction in FY 21-22

BSE StAR MF, India's largest regulated exchange-based online Mutual Funds Distribution (MFD) platform has scaled new highs by recording 1.96 crore monthly transactions, the highest ever on the platform. The highest monthly recorded transactions were 1.87 crore in January 2022. BSE StAR MF has helped AMCs, members and their clients in smooth, automated, paperless transactions.

In spite of a tumultuous fiscal, BSE StAR MF processed over 18.47 crore transactions amounting to ₹ 4,54,023 crore in financial year 2021-22, which is 97 per cent growth as compared to 9.38 crore in FY 2020-21. The platform achieved net inflows of ₹ 81,350 crore in FY21-22. Mobile apps added 37.51 lakh transactions with a value of ₹ 9,314 crore in FY21-22. In the past quarter, January to March 2022, BSE StAR MF added 33.14 lakh new SIPs.

Some of the key highlights are as follows:
Turnover: Annual turnover during FY 21-22 was ₹ 4,54,023 crore. For March 2022, turnover was ₹ 42,976 crore, as compared to ₹ 41,339 crore on February 2022, an increase of 4 per cent. For Q4FY22 turnover stood at ₹ 1,22,135 crore as compared to ₹ 91,696 crore for Q4FY21, exhibiting an excellent increase by 33 per cent.

Net Equity Inflow: For March 2022 net equity inflow was ₹ 6,860 crore as compared to ₹ 7,302 crore for February 2022. For March 2022 it was ₹ 6,860 crore relative to ₹ 4,233 crore for March 2021, an incredible growth of 62 per cent. During Q4 of FY 21-22, inflow stood at ₹ 22,068 crore compared to ₹ 8,079 crore for Q4 FY21, demonstrating a robust increase of 173 per cent.

Transactions: Annual transactions increased rapidly by 97 per cent from 18.47 crore in FY 21-22 as compared to 9.38 crore in FY 20-21. For March 2022, it was 1.96 crore, an increase of 8 per cent as compared to 1.82 crore for February 2022.

SIP Book Size: StAR MF’s total active SIP book size stands at 1.20 crore as on date. The platform registered 2.72 crore SIPs as on date. For March 2022 the platform registered 10.89 lakh new SIPs amounting to ₹ 250 crore. For February 22 the platform registered 9.07 lakh new SIPs amounting to ₹ 209 crore.

MFDs: Distributor network has seen multi-fold increase to 72,254 (as on March 2022).

BSE StAR MF App (StAR MF Mobility) has processed over 56.79 lakh transactions since its launch, amounting to ₹ 20,321 crore as on March 2022. The app was launched to help mutual fund distributors register clients on real-time basis and execute paperless transactions. Because of the superior support system and distribution reach of BSE StAR MF, the platform has grown exponentially with network of over 72,254 distributors in India.

Zaggle swipes into partnership with Tata Capital’s Moneyfy platform to offer a variety of investment products

Zaggle, a profitable SaaS FinTech company and a pioneer in digitising business spending, partners with Tata Capital’s digital wealth management platform – Moneyfy. This will greatly benefit Zaggle users, who can now get easy access to a plethora of investment options available on Moneyfy. The partnership also earmarks Zaggle’s foray into offering investment products as part of its expansion strategy.

To begin with, Moneyfy is a comprehensive digital platform, which aims to make the process of wealth creation hassle-free and secure. Zaggle’s users will have seamless access to all the mutual funds available on Moneyfy platform including a host of tax-saving funds. To encourage first-time mutual fund customers, investments can start with an amount, which is as low as ₹ 100. Investing in a mutual fund scheme using Monefy is truly effortless and seamless. Customers can easily invest in a SIP, an NFO, or a well-researched MF scheme.

Equipped with intelligent features, Moneyfy enables customers to onboard in minutes. The app’s unique ‘My watchlist’ feature allows customers to track their portfolio on a real-time basis. Going forward, Zaggle will further expand access to all other investment options available on Moneyfy including insurance, loans, fixed deposits, and NPS amongst other offerings. Zaggle strives to provide a better experience to its customers by expanding its product offerings.

Zaggle, which provides expense management systems, and employee rewards & recognition programme services to companies, has been regularly expanding its product line. Earlier, the company had announced its partnership with EarlySalary to offer affordable and instant lending solutions to its existing clientele. It has witnessed a rapid growth journey since its inception in 2011 and aims to tap into the USD 1 trillion addressable Indian spend management market.

PVR and INOX Leisure tie the knot for a blockbuster journey!

The boards of directors of INOX Leisure Limited (INOX) as well as of PVR Limited (PVR), at their respective meetings held, have approved an all-stock amalgamation of INOX with PVR. The amalgamation is subject to the approval of the shareholders of INOX and PVR respectively, along with stock exchanges, SEBI, and other such regulatory approvals as may be required. Upon obtaining all approvals, when the merger becomes effective, INOX will merge with PVR. The shareholders of INOX will receive shares of PVR in exchange for the shares in INOX at the approved share exchange (swap) ratio.

INOX shareholders will receive three shares of PVR for 10 shares of INOX. Post the merger, INOX promoters will have a 16.66 per cent stake while PVR promoters will have a 10.62 per cent stake in the combined entity. Post the merger, the promoters of INOX will become co-promoters in the merged entity along with the existing promoters of PVR. Upon effectiveness of the scheme, the board of directors of the merged company would be re-constituted with the total board strength of 10 members with both the promoter families having equal representation on the board with two seats each.