Business - The Purbottar

07 Aug

DSP Mutual Fund urges investors to look beyond returns in multi asset fund campaign

Business BureauBusiness

DSP Mutual Fund has launched a nationwide digital campaign aimed at encouraging investors to evaluate Multi Asset Allocation Funds based on their intended role in portfolio diversification rather than focusing solely on recent returns. The initiative comes amid rising investor interest in the category, with industry data showing that Multi Asset Allocation Funds accounted for 27% of net inflows into equity-oriented schemes during the January–March 2026 quarter, up from 21% in the previous quarter and 6% a year earlier. The fund house said its own investor transactions in Multi Asset Allocation Funds have tripled over the past year. After analysing…

07 Aug

Fortune Fryola Sunflower Oil Fails Quality Test, FSSAI Imposes Penalty on AWL Agri

nanika EditorBusiness

The Food Safety and Standards Authority of India (FSSAI) has imposed a penalty on edible oil major AWL Agri Business Ltd for manufacturing and marketing substandard fortified sunflower cooking oil under its popular Fortune brand. The action was taken after a product sample failed to meet the prescribed food safety standards during laboratory testing. According to FSSAI, a sample of Fortune “Fryola” refined sunflower seed oil collected from Taj Fort Aguada Resort & Spa in Goa was found to have Vitamin A and Vitamin D levels below the limits specified under the Food Safety and Standards (Fortification of Foods) Regulations,…

07 Aug

Berger Paints posts 28.6% rise in Q1 consolidated profit on strong decorative, automotive demand

Business BureauBusiness

Berger Paints India Ltd reported a strong financial performance for the quarter ended June 30, 2026, posting double-digit growth in revenue and operating profit despite geopolitical disruptions arising from the West Asia conflict. The company's consolidated revenue from operations rose 12 per cent year-on-year to Rs. 3,583.8 crore from Rs. 3,200.8 crore, while EBITDA increased 15 per cent to Rs. 607.4 crore. Consolidated net profit climbed 28.6 per cent to Rs. 405 crore during the quarter. On a standalone basis, revenue grew 12.7 per cent to Rs. 3,226.7 crore, EBITDA rose 12.6 per cent to Rs. 562.2 crore, and net…

07 Aug

Tata Chemicals Shares Rally Up to 5% Following RBI’s Decision to Keep Tata Sons on Upper-Layer NBFC Roster

anuprova EditorBusiness

Tata Chemicals shares witnessed a strong surge of up to 5% in intraday trade following the Reserve Bank of India's (RBI) decision to retain Tata Sons on its updated list of Upper Layer Non-Banking Financial Companies (NBFC-UL) for the fiscal year. The positive market sentiment was heavily driven by ongoing investor speculation surrounding the regulatory future of the Tata Group's principal holding company. While Tata Sons continues to meet the asset threshold required for upper-layer classification, its application to surrender its NBFC license and seek de-registration remains actively under examination by the central bank. Under RBI's scale-based regulatory framework, upper-layer…

07 Aug

Retirement planning needs to shift from wealth creation to sustainable income, says expert

Business BureauBusiness

Retirement planning in India must move beyond the traditional focus on building a large retirement corpus and instead prioritise creating a steady and sustainable income stream that can support retirees throughout their post-retirement years, according to Anurag Gupta, Chief Business Officer, Partnership Channels and Head of Retirement at Axis Max Life Insurance Limited. Gupta said the growing popularity of the Financial Independence, Retire Early (FIRE) movement has encouraged many Indians to chase a target retirement corpus, but cautioned that wealth accumulation alone does not guarantee financial security. Since retirement can last two to three decades, the bigger challenge is ensuring…

07 Aug

Technology investments improve ICICI Prudential Life’s cost efficiency

Business BureauBusiness

ICICI Prudential Life Insurance’s continued investment in technology and automation is translating into improved operational efficiency and lower costs, underscoring the growing role of digital transformation in enhancing productivity across India’s life insurance sector. The insurer reported that its savings cost-to-premium ratio declined to 13.6 per cent in the first quarter of FY2027, down 50 basis points from a year ago, reflecting gains from technology-led cost optimisation while maintaining business growth. The company attributed the improvement to increased adoption of artificial intelligence, analytics and digital platforms such as ICICI Pru Partner Stack and IPRU Edge, which have streamlined customer acquisition,…

07 Aug

Free dialysis services reach over 6,200 kidney patients in Dibrugarh under Assam-Apollo partnership

Business BureauBusiness

The Government of Assam, in partnership with Apollo Dialysis Clinics under the Public-Private Partnership (PPP) model, has strengthened access to free dialysis services in Dibrugarh district through the Pradhan Mantri National Dialysis Programme (PMNDP), benefiting thousands of patients suffering from chronic kidney disease. The initiative operates dialysis centres at Assam Medical College & Hospital, Moran Community Health Centre (CHC) and Naharkatia Sub-Divisional Civil Hospital, enabling eligible patients to receive hospital-grade renal care closer to home without incurring out-of-pocket expenses. According to official data as of June 2026, the three centres have served 6,288 kidney patients and conducted 44,670 free dialysis…

06 Aug

Kotak Education Foundation launches Kotak Kanya Scholarship 2026 to support 500 meritorious girls

Business BureauBusiness

The Kotak Education Foundation (KEF), the CSR implementing arm of the Kotak Mahindra Group, has launched the Kotak Kanya Scholarship 2026 under the campaign theme “One in a Million”, aiming to identify and support 500 meritorious girl students from financially disadvantaged backgrounds across India during the 2026-27 academic year. Now in its sixth year, the scholarship programme seeks to help deserving students pursue professional higher education without financial constraints. Since its inception in 2021, the Kotak Kanya Scholarship has supported 1,525 girls across 24 states. Besides financial assistance, the programme offers mentorship, career guidance, industry exposure and finishing school sessions…

06 Aug

RBI holds rates steady, flags inflation risks as markets eye October hike

Business BureauBusiness

The Reserve Bank of India (RBI) has kept its key policy rate and monetary policy stance unchanged, a move that was widely anticipated by market participants. While maintaining status quo, the central bank underscored heightened risks on the inflation front, signalling that price pressures remain a key concern for policymakers. Reacting to the monetary policy decision, Upasna Bhardwaj, Chief Economist at Kotak Mahindra Bank, said the RBI's decision was on expected lines but reflected growing caution over inflation. She said the central bank had highlighted amplified inflation risks and added that Kotak Mahindra Bank expects a cumulative 50 basis points…

06 Aug

ICICI Prudential simplifies flood claims process for Assam policyholders

Business BureauBusiness

ICICI Prudential Life Insurance has announced a simplified claims settlement process for nominees and beneficiaries of policyholders affected by the devastating floods in Assam, aiming to provide faster financial assistance to bereaved families. The company said it will process death claims on the basis of just three essential documents to ensure quicker settlements during the ongoing humanitarian crisis. Under the revised procedure, nominees can submit a death certificate or any official record issued by government, hospital or police authorities, or proof of compensation provided by the Central or State government as evidence of death. In addition, claimants need to furnish…