A SEBI-appointed committee is considering allowing mutual funds to launch a separate category of actively managed funds that invest fully in commodities via exchange-traded commodity derivatives (ETCDs). Currently, mutual fund exposure to ETCDs is capped at 30% for multi-asset schemes and 10% for other hybrids.
MF investment in ETCDs is estimated to be under ₹10,000 crore. Industry officials seek relaxed rules on holding physical commodities and more flexibility in taking long positions. Challenges include liquidity and diversification across multiple commodities. Popular commodities include gold, silver, aluminium, and zinc.
Early-stage startups are facing tougher filters for follow-on funding as risk capital slows. A Venture Intelligence study shows only 1 in 4 startups that secure seed funding raise Series A, with Series A deals dropping 45% in 2023. Several ventures have shut down due to lack of product-market fit. Investors view this as a healthy trend, while AI and SaaS remain top sectors for early-stage funding.
Despite short-term downturns, experts like Blume Ventures’ Karthik Reddy note the natural funding funnel and increased competition among micro VCs.
SEBI has mandated all Market Infrastructure Institutions (MIIs), both listed and unlisted, to disclose their shareholding patterns quarterly, per LODR regulations. MIIs must appoint a designated depository to monitor shareholding limits, ensuring compliance with thresholds. The circular introduces rules to freeze voting rights and corporate benefits if shareholding or fit-and-proper criteria are breached. The new rules take effect 90 days from issuance.
Flipkart’s UPI app super.money saw a 10-fold growth in transactions, reaching 26 million in September from 2.5 million in July. It is now the 10th largest UPI app. The app offers cashback and plans to sell credit products, including a Rupay credit card. Flipkart’s UPI handle processed 13 million transactions, while its former subsidiary PhonePe leads with a 50% market share. UPI transactions hit 15 billion, worth ₹20.6 lakh crore, in September.
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