Jio BlackRock unveils 2026 roadmap with new fund, setting up entity at Gift city

by Hansraj Agrawal | Jan 20, 2026 | Business

Sid Swaminathan, MD & CEO, JioBlackRock AMC

Jio BlackRock Asset Management Company (AMC), on Wednesday, announced its roadmap for 2026. This includes launching of a Sector Rotation Fund, setting up its entity at Gift City, rollout of Specialised Investment Funds (SIFs) and gearing up for a comprehensive ETF build-out.

“Having crossed 10 lakh customers since our launch last year, we are looking to expand our suite of offerings with a key focus on diversification. We intend to offer differentiated exposures to our investors via SIFs, ETFs and Gift City,” Sid Swaminathan, MD and CEO, JioBlackRock AMC, said. Additionally, the AMC intends to launch a series of funds across debt, equity and hybrid. “We continue on our path of giving our investors a choice of products with focus on cost efficiency, accessibility and long-term value creation,” he said.

He also added that out of 10 lakh investors, nearly 18 per cent are first-time mutual fund investors. The joint venture between Jio Financial Services and BlackRock has also seen strong participation from investors beyond major metros, with 40 per cent of its retail investors coming from B-30 cities, significantly higher than the industry average of 28 per cent. B-30 cities in India refer to cities beyond the top 30.

Unveiling plans

Giving details of the new offerings, a statement by the AMC said active funds will be based on BlackRock’s Systematic Active Equity (SAE) platform – the same platform that powers its maiden Active Equity offering – the JioBlackRock Flexicap Fund. The first of these is the JioBlackRock Sector Rotation Fund, the NFO of which will open on January 27 and continue till February 9.

“With equity markets tending to move in cycles, which impact each sector in different ways, the JioBlackRock Sector Rotation Fund is built to adapt to these shifts by dynamically rotating across sectors based on macro and market indicators, while also managing risk in response to evolving market dynamics and emerging opportunities,” the company said.

Further, the AMC plans rolling out SIFs aimed at meeting sophisticated investment requirements, deepening engagement with investors through differentiated products and risk-managed outcomes. As part of its broader product expansion, it is also gearing up for a comprehensive ETF build-out, with a focus on evaluating building blocks that can enable deeper retail penetration, institutional participation while creating scalable and cost-effective solutions, the statement added.

The AMC is also in the process of setting up its entity in Gift City and securing the required regulatory permissions that will allow the development of cross-border fund structures and a retail presence. This will enable Indian investors to responsibly access global allocation opportunities and international investors to obtain access to differentiated investment opportunities in India, the statement said.

Published on January 20, 2026

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US Army Secretary visits India for defence talks and million arms deals

US Army Secretary visits India for defence talks and $93 million arms deals

by Hansraj Agrawal | Jan 20, 2026 | Business

US Army Secretary Daniel P. Driscoll is visiting India to strengthen bilateral defence cooperation amid ongoing tariff tensions
| Photo Credit:
Ukrainian Presidential Press Service/Handout via REUTERS

Amid tariff tensions, a US delegation led by Secretary of the Army Daniel P. Driscoll is visiting India from Wednesday to meet External Affairs Minister P. Jaishankar and other government officials for a bilateral defence engagement.

This would be Daniel P. Driscoll’s maiden visit to India since his appointment as Secretary of the Army last February. He visited Japan in October on his last Asian official tour.

US delegation arrival

The 13-member US delegation will arrive in New Delhi on Wednesday . They will fly out to a central Asian country before returning on January 23 to hold discussions with External Affairs Minister Jaishankar the following day to expand military cooperation between the countries.

Gaza Peace invite

The visiting delegation, during official interactions, is not ruling out discussing US President Donald Trump’s invitation to Prime Minister Narendra Modi to join the “Board of Peace” to bring lasting peace to Gaza.

Defence talks focus

It is learnt that he is also seeking a meeting with Defence Minister Rajnath Singh to ensure that the military dialogue is not made hostage to the trade tariff war, after Washington slapped a 50 per cent tariff on New Delhi as punishment for purchasing oil from Russia.

Arms deals approval

On India’s request to buy up to 216 Excalibur artillery munitions and 100 Javelin anti-tank missile systems, the US State Department gave a go-ahead in November 2025. Together, the deals would cost $93 million. The Indian Army wants to refill its inventory with M982 Excalibur precision-guided artillery shells, which they had fired from M777 howitzers during Operation Sindoor.

Indigenous options

Among the land systems, the US is also pushing the Stryker armoured vehicle, but the Indian Army is also considering indigenous options. During the recently held annual press conference, Indian Army Chief General Upendra Dwivedi had clarified: “It’s one of the options, but we will prefer an indigenous platform if available. The Indian industry had earlier expressed its reservations over the Styker deal on the grounds that, given the opportunity, indigenous military mobility firms are capable of producing a similar 8×8 armoured vehicle.

Co-production talks

Besides that, the talks on co-production of GE F414 engines between HAL and GE have entered a crucial phase of negotiations, and a deal is expected either this financial year or later in 2026, said top sources privy to the talks.

Parachute Brigade visit

Driscoll is also set to visit the Indian Army’s 50th Parachute Brigade, known as the Shatrujeet Brigade, a special operations group based in Agra, on January 25 and attend the Republic Day parade before the delegation returns to the US.

Published on January 20, 2026

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Gold, silver soar to new highs globally and in India

by Hansraj Agrawal | Jan 20, 2026 | Business

Closeup silver ingots and golden bullions in bank vault. Finance 3d illustration istock photo for BL
| Photo Credit:
iStockphoto

Gold and silver soared to new highs on Tuesday in the global and domestic markets as the current spat between the US and Europe over Greenland continued to drive investors to haven assets.

Gold topped $4,700 an ounce to a new record. It ruled at $4,732.05 an ounce at 1930 hours IST. Gold futures, expiring in February, were quoted at $4,739.75 on COMEX.

In India’s Mumbai spot market, gold ended at ₹1,47,409 per 10 gm, while on MCX, gold February contracts ruled at ₹1,50,110 for 10 gm, after rising to ₹1,52,250.

Silver topped $95 an ounce and was quoted at $95.36 an ounce. Silver March futures on COMEX ruled at $95.24. In the Mumbai spot market, the white precious metal closed at ₹3,09,345 a kg. On MCX, its March contracts topped ₹3.25 lakh a kg before ruling at ₹3,24,524.

SHFE silver near $105/oz

On Shanghai Futures Exchange, the white precious metal ruled at $104.26 an ounce (23,358 yuan) after rising to $105.87 (23,700 yuan).

However, US multinational financial agency JP Morgan warned that mounting risks from loosening ex-US supply and ETF outflows to softer industrial demand and tighter Chinese trading curbs, leave silver vulnerable to a sharp correction.

Mining executive David Jensen said many stores in the US and much of Europe were reporting shortage of silver.

LBMA survey

The yellow precious metal has gained close to 10 per cent since the beginning of 2026, while the white precious metal has increased by nearly 33 per cent. Platinum, which was quoted near $2,500 an ounce, has gone up by 18.5 per cent and palladium, which ruled at $1,890 an ounce, has risen by over 14 per cent.

Meanwhile, the London Bullion Merchants Association (LBMA) annual survey revealed that analysts see gold, silver, platinum and palladium breaching new highs throughout 2026. Gold will not just top $6,000 an ounce, but may even soar to $7,000. They expect silver to hit $160 an ounce. Platinum could see highs of over $3,000 and palladium close on its tail.

Published on January 20, 2026

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City Union Bank bags six accolades at the IBA Technology Awards

by Hansraj Agrawal | Jan 20, 2026 | Business

City Union Bank has been awarded with 6 accolades at the IBA Technology Awards, presented during the 21st Annual Technology Conference, Expo & Citations 2024–2025, held on 9 January 2026 in Mumbai.

The award was presented to the bank’s MD&CEO N. Kamakodi by T Rabi Sankar, Deputy Governor of the Reserve Bank of India.

IBA recognises and reward banks whose ideas, initiatives, risk leadership qualities, and implementation of various technology initiatives have kept them ahead of their competitors.

The bank won awards in several categories including Best AI & ML Adoption, Best Technology Bank, Best Digital Financial Inclusion, Best Digital Sales and Best IT Risk Management.

This is the third year in row where City Union Bank has received six or more awards at the IBA Technology awards.

Published on January 20, 2026

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AU SFB Q3 PAT up 26% on strong NII growth

by Hansraj Agrawal | Jan 20, 2026 | Business

AU Small Finance Bank (SFB) on Tuesday reported its Q3FY26 net profit at Rs 668 crore, up 26 per cent year-on-year (y-o-y) backed by strong growth in net interest income (NII) and lower provisions.

The bank’s NII grew 16 per cent y-o-y to ₹2,341 crore, while other income was up 17 per cent at ₹724 crore. Net interest margin (NIM) improved by 25 basis points sequentially to 5.7 per cent in Q3. Provisions fell 34 per cent on-year to ₹331 crore. Fresh slippages fell to ₹791 crore in Q3 from ₹908 crore last quarter. Gross and net non-performing asset ratio (GNPA, NNPA) stood at 2.30 per cent and 0.88 per cent in Q3, respectively, largely flat y-o-y.

Gross loan portfolio of the bank (excluding unsecured loans) rose 23 per cent y-o-y to ₹1.29 lakh crore, while deposits were also up 23 per cent on-year at ₹1.38 lakh crore as on December end. Credit-deposit ratio of the lender stood at 89 per cent in Q3.

Management changes

AU SFB said it has inducted three new non-executive independent directors on board including NS Venkatesh, Satyajit Dwivedi and Phani Shankar. It also re-appointed Malini Thadani as independent director for a second 3-year term.

Importantly, the lender said its current executive director (ED) and deputy CEO Uttam Tibrewal will complete his tenure as whole time director in April this year, but continue serving as the bank’s deputy CEO.

Vivek Tripathi, Chief Credit Officer at the lender, will be promoted to the level of ED after receiving the regulator’s approval. ENDS

Published on January 20, 2026

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PhonePe gets SEBI nod for IPO; targets ₹10,000-crore OFS

by Hansraj Agrawal | Jan 20, 2026 | Business

PhonePe’s IPO push comes at a time when it continues to consolidate its leadership in India’s fast-growing digital payments ecosystem

Payment major PhonePe has received approval from capital markets regulator SEBI to launch its initial public offering (IPO), according to people familiar with the matter. The company is targeting a fund-raise of around ₹10,000 crore, primarily through a pure offer for sale (OFS), they said.

PhonePe is expected to file an updated draft red herring prospectus (DRHP) in the coming days. This follows the Bengaluru-headquartered firm’s decision to file its IPO papers via the confidential route in September last year, a mechanism increasingly favoured by large issuers to keep financial and operational details private until closer to the listing.

The proposed IPO will see some of PhonePe’s existing shareholders pare their holdings. Walmart, Tiger Global and Microsoft are among the investors expected to participate in the OFS, which is likely to result in a combined dilution of around 10 per cent stake. Kotak Mahindra Capital, Citi, Morgan Stanley and JP Morgan have been appointed as advisors for what is expected to be one of the largest technology listings in India.

UPI dominance underpins listing case

PhonePe’s IPO push comes at a time when it continues to consolidate its leadership in India’s fast-growing digital payments ecosystem. The company commands about 45 per cent market share in the Unified Payments Interface (UPI) network, ahead of Google Pay’s roughly 35 per cent share. UPI, today, processes over 85 per cent of India’s digital payment volumes, making it the backbone of the country’s retail payments infrastructure.

The sustained dominance in UPI, despite rising competition from well-capitalised players, is seen as a key factor strengthening PhonePe’s public market pitch. Investors view the company as a relatively stable and scaled platform in an otherwise intensely-competitive fintech landscape.

In recent months, PhonePe has also seen heightened secondary market activity. General Atlantic last year invested $600 million in the company through a secondary share purchase, increasing its stake from 4.4 per cent to around 9 per cent. The transaction did not involve fresh capital infusion and was aimed at enabling employees to exercise stock options and meet related tax obligations. Including this deal, the US-based private equity firm has invested about $1.15 billion in PhonePe since 2023.

Tech listings

PhonePe’s IPO plans are unfolding against a broader revival in technology listings. Wealth-tech platform Groww listed late last year at an estimated valuation of $7.5 billion and is now trading at around $10.5 billion. Separately, merchant payments firm Pine Labs’ IPO closed for subscription in November, garnering nearly 2.5 times demand for its ₹3,900-crore issue.

Market participants believe these listings have helped reset investor confidence in new-age companies, potentially providing a favourable backdrop for PhonePe’s market debut.

Published on January 20, 2026

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