The Securities and Exchange Board of India (Sebi) is considering a proposal to allow mutual funds (MFs) to charge a fee based on their performance, said Ananta Barua, whole-time member of the markets regulator. He said the proposal is being reviewed by a working group formed to look into cost structures. "One working group has been set up which is going to review... One of the suggestions is that if any scheme or fund is performing well above the benchmark, it (fee) can be linked to its performance.
This statue, which is 28-foot tall including the pedestal, was made using the ancient lost-wax technique of metal casting that was used for making the famed Chola bronzes, sources said.
'Each state and central government body may be asked to update its system to ensure PAN is used as a common identification to access its services.'
Delegates of all G20 countries, barring China, arrived in Srinagar on Monday for the third working group meeting on tourism -- a much-anticipated event for which authorities have made extensive security arrangements and spruced up the summer capital of Jammu and Kashmir.
China has signalled that it will prevent India from assuming leadership of the Global South, observes Ambassador T P Sreenivasan.
Byju Raveendran, CEO and founder of the eponymous edtech giant, has told shareholders that the company will set up a board advisory committee (BAC). This was part of a discussion on July 4 with shareholders at an emergency general meeting (EGM). Raveendran also said that in the next EGM in three weeks will give details about BAC's members and composition.
The best, wisest, and fairest next step in strengthening our own cause is to restore statehood to Jammu & Kashmir and allow the resumption of robust political activity. That's a box that remains unchecked on the Modi government's report card as we approach the fourth anniversary of Kashmir's Constitutional shift, notes Shekhar Gupta.
Revamped at a cost of Rs 10 crore, Ouni village in Uttarakhand is being touted as a 'modern village' now. Nearly 40 solar street lights, two new transformers, and as many washrooms have been set up in the village, which didn't have street lights till a few months ago, reports Sarthak Choudhury.
The top diplomats of Quad nations on Friday denounced as "inadmissible" any use or threat of use of nuclear weapons in the Ukraine war and strongly opposed any "unilateral actions" that seek to change the status quo in the South and East China Seas, a region that has witnessed increasing Chinese military offensive.
The Securities and Exchange Board of India (Sebi) is mulling doing away with the priority distribution (PD) model in Alternative Investment Funds (AIFs) and introducing in the regulation pro-rata rights (based on the ratio of their commitments) for investors. AIFs are pooled investment vehicles but certain schemes have been observed to be following a differential distribution model where one class of investors, often a junior class, share loss more than the ratio of their contributions in comparison to the senior class of investors. As the senior class of investors have priority in distribution over the junior class of investors, the profit distribution is done first to these investors while they are compensated for loss out of the residual capital of junior class investors.
Covovax is likely to be available on the portal in a few days at a price of Rs 225 per dose plus applicable GST.
Companies don't have to be in the field to nudge people to return money they owe lenders.
Defending the abrogation of Article 370 of the Constitution, the Centre on Monday told the Supreme Court that the entire region of Jammu and Kashmir has witnessed an "unprecedented" era of peace, progress and prosperity, with street violence, orchestrated by terrorists and secessionist networks, becoming "a thing of the past."
Prime Minister Narendra Modi held talks with US President Joe Biden at the White House on Thursday to discuss a wide range of issues of mutual and global interests, aimed at further boosting the Indo-US strategic relations in areas like defence, space, clean energy and critical technologies.
'Three decades of intensive discussions, protocols and Confidence Building Measures were jettisoned one fine morning in 2020.' 'The primary lesson that has been learnt is that that there is no reliability about the Chinese.'
The Supreme Court on Tuesday said it will commence day-to-day hearing from August 2 on a batch of petitions challenging abrogation of Article 370 of the Constitution that bestowed special status on the erstwhile state of Jammu and Kashmir.
Gujarat will host the next round of G20 meetings from March 27 to April 4, during which three conclaves will be held in the state on a range of issues, where delegates from different countries will converge for participation, an official said.
Group term insurance is far more cost-effective than an individual cover.
Additional security personnel have been deployed on the ground and drones are being used for aerial surveillance, they said.
The Insurance Regulatory and Development Authority of India (IRDAI) is considering a proposal to make insurance frauds a parameter for calculating credit scores in an attempt to put a lid on the increase in such activity. The proposal, which is a part of the recommendations made by a working group formed by Irdai and the General Insurance Council, suggests that insurance frauds should feature when the risk profiles of individuals are evaluated and should be used to calculate their credit scores. A poor credit score can deprive a person of financial services such as loans and credit cards, and deter him from indulging in fraud.
The constitution of both countries begins with the "three words -- We the People -- as President Biden just mentioned", said Modi, who is on his first state visit to the US.
Markets watchdog Sebi on Friday directed stock exchanges to impose "financial disincentives" on stock brokers for technical glitches at their end, amid instances of snags at the brokers' end impacting the overall trading system. Besides, the stock brokers would have to inform the bourses within one hour of any glitch happening in their trading sysstems as well as submit a preliminary incident report in one day. As part of tightening the regulations, Sebi also said that the bourses should disseminate on their websites the instances of technical glitches occurring in the trading systems of stock brokers along with the Root Cause Analysis (RCA) of such issues.
In a report tabled in Parliament recently, it said several complaints are being disposed of by the Lokpal on the ground that they are not in the prescribed format and asked it not to reject genuine complaints.
Will G20 showcase an India that is inclusive, culturally rich, diverse and tolerant, asks Ramesh Menon.
The captains of England, Wales, Belgium, the Netherlands, Switzerland, Germany and Denmark will not wear "OneLove" armbands after FIFA made it clear they would be booked, the associations said in a joint statement on Monday.
PEs and VCs are taking a closer look at their bouquet of investments. Leading voices in the sector are categorical that cash-burn rates -- that's blowing up equity to acquire market share -- as a business model can't continue to be the polestar.
The Ministry of External Affairs (MEA) has been allocated a total of Rs 18,050 crore in the Union Budget for 2023-24 which is an increase of around 4.64 per cent over last year's allocation of Rs 17,250 crore.
'At the heart of the strategic relationship between our countries are economic ties.'
The increasing involvement of Big Tech in the financial system could give rise to concentration risk and there are potential spillovers, which call for closer attention, Reserve Bank of India (RBI) Governor Shaktikanta Das said on Tuesday. "...enormous amounts of consumer data is being generated and leveraged upon by a few entities (the so-called Big Tech) by virtue of their huge customer base. "Such developments raise concerns on concentration risk and potential spillovers as their level of engagement with the financial system strengthens in the years to come," Das said at the Global Fintech Fest 2022.
In January, Visa's chief executive officer, Al Kelly, said during an earnings call that "there's been a burst of the balloon in valuations in the fintech world". Noting that the trend of lower valuations "is a helpful characteristic of the current environment", he added: "We will look for capabilities and management teams that will bring more value to Visa than we can bring ourselves." Data from KPMG's Pulse of Fintech H2'22 shows that global fintech investment - via mergers and acquisitions (M&As), private equity (PE) and venture capital (VC) firms - at $164.1 billion in 2022, was down 31 per cent over the year before. Indian fintechs held up better during this timeframe, attracting $6 billion, or a fall of 24 per cent.
Recently, Slice, a payment app, acquired a 5 per cent stake in North East Small Finance (NESF) for $3.42 million - the first such deal by a fintech in a small finance bank. Slice (valued at $1.5 billion, and backed by Tiger Global, Blume Ventures and Axis Bank) will technically get a toehold in a scheduled commercial bank if NESF were to get a licence to morph into one down the line Such a transition is well within the banking regulator's declared framework. The transaction has to be seen in a larger context.
'The protective effect of the vaccine lasts for about nine months to a year.' 'For health workers that period is already over. This is the right time to augment their immunity.'
Manmohan Singh and Musharraf felt that what they were embarking upon, if successful, could lead to a future of boundless potential for the two countries and for the relationship that was hard to foresee from the prism of the existing situation and the historical position and orthodox ideas on both sides.
'We seem to be in a situation where we can do little, and nothing needs to be done anyway.'
The maintenance, repairs and overhault firm, which has six investors, received its first external funding from GTI Group and Punj Lloyd in 2007. All existing investors will exit the company following the transaction.
The Kraken COVID-19 variant accounts for almost 41 per cent of all Covid infections.
Modi's emphasises on transit for trade comes amid Pakistan's reluctance to provide such a facility for two-way trade between India and Pakistan.
The Reserve Bank has given time till November 30 to banks and NBFCs to put in place a mechanism to ensure that existing digital loans are in compliance with the modified norms aimed at protecting the interest of customers. Last month, the central bank tightened norms for 'digital lending' to prevent charging of exorbitant interest rates by certain entities and also check unethical loan recovery practices. In a circular, the RBI said outsourcing arrangements entered by Regulated Entities (REs) with a Lending Service Provider (LSP)/ Digital Lending App (DLA) do not diminish the REs' obligations and they shall continue to conform to the extant guidelines on outsourcing.
In a sharp reaction, India said such activities are "inherently illegal, illegitimate and unacceptable".
India and South Africa have decided to set up a Joint Working Group on terrorism and will share intelligence to prevent terror attacks.
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