Press Releases for August 2026
1. Artha Bharat Launches Artha Bharat FinMet
Physical Gold Fund
Artha Bharat Investment Managers IFSC LLP, a leading fund management entity in India’s premier financial hub, has debuted the Artha Bharat FinMet Physical Gold Fund – the first-ever physical commodity fund – and the first gold fund to be launched from GIFT City. The launch of the fund follows IFSCA's formal notification of commodity trading as a financial product under the IFSCA Act, effective January 2026. This landmark launch will create a new milestone following the enabling regulatory framework created by the GIFT City regulator.
“We are grateful to the International Financial Services Authority for working with the industry to develop a robust regulatory framework that rewards and encourages innovation in product offering that will help establish GIFT City as the preeminent IFSC of the region,” said Sachin Sawrikar, Managing Partner, Artha Bharat Investment Managers IFSC LLP.
Strategic Partnership & Investment Objective
The open-ended, passively managed fund is launched in partnership with Singapore-based precious metals specialist FinMet, who serves as the investment advisor. The scheme is designed to track international spot gold prices with minimal tracking error, allocating at least 95% of its assets to London Bullion Association (LBMA) standard gold bars traded on the GIFT City headquartered India International Bullion Exchange (IIBX). IIBX is a JV of NSE, NSDL, CDSL, MCX and a BSE subsidiary.
The fund offers weekly subscriptions and redemptions, providing investors with liquidity rarely available in physical commodity-based fund structures. The Artha Bharat FinMet Physical Gold Fund also has a highly competitive total expense ratio (TER) of 0.65% per annum.
Unique Redemption & Secure Storage
“Our scheme will invest in physical gold stored in IIDI (India International Depository IFSC) insured vaults within GIFT City – regulated by IFSCA,” said Sawrikar. GIFT City’s first physical gold backed fund also has another unique USP. “Another first with our scheme is that investors will have an option to receive certified physical gold bars or equivalent cash when they wish to redeem their units in the scheme,” added Sawrikar.
The Case for Gold: Performance and Diversification
With gold currently trading approximately 28% below its January all-time high, Artha Bharat views this as a strategic entry point for medium to long term investors. India has been one of the world’s top two to three consumers of gold globally with conventional wisdom of the Indian housewife urging investments into gold as a store of value and an insurance for a rainy day. Gold has delivered exceptional returns to investors, with a CAGR of 13.7% over the last 10 years, 20.4% over the last 5 years, and an impressive approximately 20% over the last year (as of 30 June 2026).
“Gold offers three structural advantages that make it indispensable in any portfolio: near-zero correlation with equities, freedom from counterparty and sanctions risk, and competitive long-run returns,” said Sawrikar.
2. Exim Bank transfers Rs. 428 crore balance of net profit to GoI
Ms. Harsha Bangari, Managing Director, Export-Import Bank of India, presented to the Hon’ble Minister of Finance and Corporate Affairs, Smt. Nirmala Sitharaman, the receipt for transfer of balance of net profit of Rs. 428 crore to the Government of India. The Bank reported a net profit of Rs. 4273 crore for FY 2025-26, of which 10% is being transferred as balance of net profit to Government of India.
During FY 2025-26, Exim Bank recorded 31.74% y-o-y growth on net profit and robust financial indicators, underscoring its continued commitment to advancing India’s international trade and investment objectives, while also supporting the development priorities of partner countries. The Bank’s paid-up capital is wholly owned and subscribed by the Government of India.
Exim Bank is the country’s premier export credit agency, wholly owned by the Government of India. The Bank plays a pivotal role in financing, facilitating and promoting India’s international trade and investment. Through its diverse range of products and services, Exim Bank supports Indian enterprises in enhancing their global reach and competitiveness.
3. Strengthening Export Competitiveness: Exim Bank Envisions an Export Target of US$ 1.5 billion by FY 2030 for India’s North-Eastern Region
Indian Bank & VIT Chennai Conclude PSBS Hackathon Series 2026 on Fraud Prevention Chennai, July 8, 2026 – Indian Bank, in collaboration with VIT Chennai, hosted the grand felicitation ceremony for winners of the PSBS Hackathon Series 2026, a nationwide initiative by Public Sector Banks. The event carried the theme “IntelliTrace: Protect – Detect – Prevent Fraud” and the spotlight was on innovative solutions to strengthen fraud detection in the banking ecosystem.
The hackathon challenged participants to address critical problem statements, including:
- Cross-channel mule accounts
- Multi-tier supply chain fraud
- Network-level fraud analytics
The grand felicitation event was graced by several distinguished dignitaries, including: Smt. Mini T M, Executive Director, Indian Bank; Dr. Thyagarajan T, Pro Vice Chancellor, VIT Chennai, Shri. Rajeev Ranjan Prasad, Senior Advisor (Payment Systems & Banking Technology), IBA; Shri. Deepak Sarda, CGM (IT & Partnership) & CTO, CIO, Indian Bank; Shri. Navin Kumar Shrivastava, Chief General Manager, Chief Risk Officer, Indian Bank and Dr. Viswanathan V, Professor and Dean, SCOPE, VIT Chennai.
Launched after the signing of a Memorandum of Understanding (MoU) on February 4, 2026, the hackathon drew participation from students, researchers, scholars, and startups across VIT campuses and institutions under Anna University nationwide.
Speaking at the event, Smt. Mini T M, Executive Director of Indian Bank, emphasised: “At Indian Bank, we believe that creating awareness is one of the strongest defences against financial fraud. With the increasing threat of fraudulent practices, including the misuse of mule accounts, it is important that every citizen, especially the youth, remains vigilant and financially informed. I sincerely appreciate the enthusiastic participation and commitment shown by the students; their engagement reflects a growing sense of responsibility towards building a safer digital banking ecosystem. Through awareness and collective action, we can strengthen trust in the financial system and effectively combat cyber-enabled financial frauds.”
Through initiatives like the PSBS Hackathon Series, Indian Bank continues to champion innovation-driven growth, nurture emerging talent, and build a resilient digital banking ecosystem by strengthening cooperation between higher education and the financial sector.
4. BNP Paribas Cardif to Acquire 26% Stake in IndiaFirst Life from Warburg Pincus
BNP Paribas Cardif, the insurer of BNP Paribas Group, has entered into a definitive agreement to acquire a 26% stake in IndiaFirst Life Insurance Company Limited (IndiaFirst Life) from Warburg Pincus. The transaction is subject to regulatory approvals.
The transaction marks a significant milestone in IndiaFirst Life’s growth journey and reinforces the long-term commitment of its shareholders to supporting the company’s growth in the Indian life insurance market.
Upon completion of the transaction, IndiaFirst Life’s shareholding will comprise Bank of Baroda (65%), BNP Paribas Cardif (26%) and Union Bank of India (9%).
By combining Bank of Baroda’s strong branch network, IndiaFirst Life’s multi-channel distribution strength and BNP Paribas Cardif’s global bancassurance expertise, product innovation and insurance capabilities, the shareholders aim to accelerate IndiaFirst Life’s next phase of growth. The partnership reinforces the company’s ambition to become India’s preferred life insurance partner.
For BNP Paribas Cardif, the transaction marks a further step in its international growth and diversification strategy, while strengthening its presence in Asia, particularly in India, a strategic market offering compelling long term growth opportunities. It reinforces BNP Paribas Cardif’s partnership-led business model and strengthens its position in a dynamic insurance market.
