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Bain Capital will acquire an 18.6% stake in Manappuram Finance, a leading Indian gold loan company, through a primary infusion and secondary sale. The investment includes a mandatory open offer, potentially increasing Bain s stake to 41.7%. The deal, subject to regulatory approvals, aims to propel the company s growth.

The bond issue is likely to be closed before the end of March," said the first person. Bank of Maharashtra didn t reply to email seeking comments. Bonds are expected to be priced at 10.15% rate. Maharashtra Gramin Bank had last issued tier-I perpetual bonds in December 2021.

The Reserve Bank of India clarified that banks must disclose repo and reverse repo transactions in both market value and face value terms. This is in response to banks’ queries on financial statement disclosures. The RBI s guidance applies to all commercial and cooperative banks from the financial year ending March 31, 2025, onwards.

Bajaj Finance has appointed Anup Kumar Saha as its new managing director, succeeding Rajeev Jain, effective April 1. Jain will transition to the role of vice chairman for three years. Saha, who joined Bajaj Finance in 2017, brings extensive experience from his 25 years in the financial services industry.

Maharashtra, Kerala, and Tamil Nadu have emerged as the top recipients of remittances from overseas Indians, amounting to $118.7 billion in FY24. The shift in dominance from the Gulf countries to advanced economies like the US, UK, and Australia highlights a significant trend, with digital channels reducing transfer costs and playing a major role.

India s insurance regulator has appointed five new key members to its Insurance Advisory Committee (IAC), including leaders from banking, asset management, and insurance sectors, aiming to shape future regulations. The IAC will submit its report in three months, with a new draft bill suggesting an FDI increase to 100% and a composite licence framework.

The National Housing Bank has instructed home financiers to cease mis-selling bundled insurance policies with housing loans. NHB mandates explicit customer consent and multiple insurance options to ensure transparency and fair competition, following numerous complaints of uninformed borrowers and mismatched policy tenures.

The NSE Nifty rose 283.05 points, or 1.24%, to close at 23,190.65. The BSE Sensex rose 899.01 points, or 1.19%, to end at 76,348.06. So far this week, the Nifty has gained 3.5% and is on course to clock its highest weekly gain since July 2022.

Trump s post Wednesday evening comes as his administration prepares to unveil a fresh wave of tariffs, which Federal Reserve Chair Jerome Powell signaled was hanging over forecasts.

The information technology (IT) sector witnessed the highest outflows at ₹6,934 crore after receiving flows worth ₹805 crore in February. In 2024, foreign investors pumped over ₹14,000 crore into the sector.