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In 2018, Aditya Birla Sun Life Mutual Fund faced redemption pressures in some of its debt schemes due to exposure to entities like the Essel Group companies. The Economic Times reported that the Aditya Birla Sun Life Mutual Fund was the biggest investor in the Essel Group, with an exposure of Rs 2,936 crore spread across 28 schemes1.
Rolinco, a second mutual fund for investors more interested in capital growth than taxable dividend, was founded in 1965. Robeco Group is also founded. [10] The company became the largest mutual fund in Europe in 1969. [11] Rorento, Robeco’s first bond fund, was founded in 1974 as an answer to the oil crisis in 1973. [12]
The 1992 Indian stock market scam was a market manipulation carried out by Harshad Mehta with other bankers and politicians on the Bombay Stock Exchange.The scam caused significant disruption to the stock market of India, defrauding investors of over fifteen million USD.
Kumar Mangalam Birla (1967-current), became the chairman of the Aditya Birla Group in 1995, succeeding his late father Aditya Vikram Birla when he was just 28 years old. [ 19 ] [ 20 ] Under his leadership, the group's annual turnover grew from $2 billion in 1995 to $60 billion in 2022.
Aditya Birla Sun Life Insurance was established on August 4, 2000, and began operations in 2001 with three insurance plans. [35] The Insurance Regulatory and Development Authority (IRDA) granted registration in principle to Birla Sun Life. [36] Initially, Sun Life Financial held a 26% stake in this joint venture, [37] and later increased its ...
Canara Bank is an Indian public sector bank based in Bangalore, India. Established in 1906 at Mangalore by Ammembal Subba Rao Pai . The bank was nationalized in 1969.
Canara HSBC Life Insurance is an Indian life insurance company, headquartered in Gurugram. [5] Established in 2008, Canara HSBC Life Insurance [6] was a joint venture between Canara Bank (51%), HSBC Insurance (Asia Pacific) Holdings Limited (26%) and Punjab National Bank (23%). On 15 June 2022, the company renamed itself as Canara HSBC Life ...
Kumar Mangalam Birla (born 14 June 1967) is an Indian billionaire businessman. He is the chairman of the Aditya Birla Group, one of the largest conglomerates in India. He is the chancellor of the Birla Institute of Technology & Science, Pilani [1] and ex-chairman of Indian Institute of Management Ahmedabad. [2]