SEBI employees protested over work conditions and a new performance-tracking system, prompting SEBI to withdraw a contentious September 4 statement that accused them of being influenced by external entities.
The regulator has now agreed to form a committee, including whole-time members, to address employee demands and improve the work environment. The employees are hopeful for resolution within a “time-bound framework” as indicated by SEBI’s latest statement.
Navi has quickly become India’s fifth-largest UPI player, surpassing Amazon Pay with 89 million transactions in August, a 30-fold increase over six months. Despite its rapid growth, Navi holds just 0.6% of the UPI market. The top three players—PhonePe, Google Pay, and Paytm—continue to dominate with a combined 92% market share.
Kotak Mahindra AMC plans to launch its first private credit fund by December, aiming to raise around ₹10 billion. The fund will focus on direct lending to companies, reflecting the growing demand for private credit in India, where traditional channels focus on top-rated credit. Competitors like Nippon Life, ICICI Prudential, and global firms are also entering this booming market.
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