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Urge regulator to ensure MF distribution remains financially viable

mutual fund

Move comes days after Sebi suspended practice citing misuse

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Just 4% growth in registration of direct plan SIPs last year after 115% growth in 2021

Between October 2021 and September 2022, gold prices rose over 9.5 per cent even as ETF inflows shrunk to a half

Mutual funds, Stock markets, liquidity

Amfi has barred them from using nomenclatures that have references to advisors, following Sebi move to separate distribution and advisory for the Rs 27-trillion industry

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Switching from one scheme to another is treated as transfer and is subject to capital gains tax

Investors can get these loans at 9-10 per cent interest rate

Experts say nudge towards direct plans, regulatory changes and market correction have led to cuts

At 10:1, life insurance agents outmatch mutual fund distributors

There are only 220,217 MF distributors compared to 2.1 million insurance agents

Allow MF distributors to give incidental advice to investors, says forum

Sebi proposes that distributors giving such advice would have to register under Sebi's IA Regulations

Adani Group on Thursday bagged two contracts worth Rs 13,888 crore from a state-owned discom to install smart meters.
A total of six tenders were awarded by the Maharashtra State Electricity Distribution Company Ltd (MSEDCL) to install smart meters, of which two have been bagged by the Adani Group, according to an official communiqu from the discom seen by PTI.
The diversified group, which has a sizeable presence in the power sector and had recently won a Rs 1,000 crore contract to install smart meters in the area serviced by BEST Undertaking in Mumbai, will act as an advanced metering infrastructure service provider for smart prepaid metering in MSEDCL, it said.
The two zones awarded to Adani include Bhandup, Kalyan and Konkan having 63.44 lakh meters, and Baramati and Pune having 52.45 lakh meters, it said.
Letter of Awards have been issued to the successful firms, as per the communiqu.
Officials from Adani Group were not immediately available for comment.
The group's transmiss

Adani, Adani Group

Stocks held by Canada Pension Plan Investment Board (CPPIB), which is among the biggest FPIs investing in the domestic market, have come under pressure since developments on the India-Canada tensions

India-Canada tensions: Multi-billion economic deals at risk if rift widens

India-Canada

India's addition to a major global gauge will give global investors greater access to the world's fastest-growing large economy that offers some of the highest returns in the region

JPMorgan Chase & Co

Adani group won the Dharavi rebuilding project in July by bidding $610 million for the project

Dharavi Redevelopment Project

While both Tesla and the Indian government remain keen on the proposal, and New Delhi continues to review it, it is not certain if the plan will be realised, said the first source

Tesla, elon Musk

Since 1996 nearly every government has attempted to pass the Bill in Parliament but has failed to find consensus

women leaders

Brazil is back. That has been Luiz Inacio Lula da Silva's refrain for the better part of the last year, with the president deploying the snappy slogan to cast Brazil  and himself  as a leader of the Global South no longer content to abide the world's outdated workings.
Last year, Lula thwarted the reelection bid of the far-right Jair Bolsonaro, who showed little interest in geopolitics or diplomacy during his four years in office. Lula, by contrast, has crisscrossed the globe and visited 21 countries in recent months, from the United States to China, Italy to India, Argentina to Angola.
He has sought to boost Brazil's cred with each state visit and speech, one multilateral forum after another.
On Tuesday, his address at the UN General Assembly will mark his return to that rostrum for the first time since 2009, the last year of his previous presidency's second term.
We will see references to the Brazil is back' narrative, as Brazil seeks to more broadly project itself as a country t

Luiz Inácio Lula da Silva

The West Bengal transport department will soon come out with detailed guidelines for better regulation and safe operation of non-transport two-wheelers for commercial purposes in the state, an official said on Tuesday.
He said a meeting chaired by West Bengal Transport Secretary Saumitra Mohan with different aggregators such as Ola, Uber, Rapido, InDrive and online delivery agencies such as Amazon, Flipkart, Blinkit, Zomato and Swiggy discussed the unregulated operation of non-transport two-wheelers for commercial purposes.
In the meeting held recently, it was decided that all stakeholder aggregators, corporate houses, and agencies using non-transport two-wheelers unauthorisedly for commercial purposes must be brought under an oversight mechanism in accordance with relevant Motor Vehicle Acts and rules.
The operators requested the transport department's intervention in obtaining NOCs from financial institutions financing a number of these two-wheelers to ease the process of conversi

2-wheeler, two wheelers, bikes, motorcycles, motorbike, bajaj, automobile

This comes as the Cabinet on Monday approved the Women's Reservation Bill, sources said

Parliament, New parliament building

Since the 1990s, governments have tried to push through legislation to provide reservation to women in the Parliament and state Assemblies

New Parliament

Overseas institutions are also a better bet for Adani. Tapping Indian banks, especially state-run lenders, would be a tad cheaper, but might invite greater political scrutiny ahead of general election

The fiscal burden of states will increase over time

pensions, funds, retirement, investments, investors, savings

The government introduced the Women's Reservation Bill in the Parliament almost three decades after it was first drafted

Parliament

Former RBI Governor Bimal Jalan said it is better if the person's expertise is considered than whether he/she is a bureaucrat or a private sector executive

TRAI

Filmmakers will have to invest in understanding the changing tastes of moviegoers, in multiplexes and single screens, in order to improve their chances of success

Cinema hall, Kashmir, South Kashmir

The Supreme Court on Friday said it would list pleas on the issue of marital rape for hearing in mid-October. The pleas raise the legal question of whether a husband enjoys immunity from prosecution for the offence of rape if he forces his wife, who is not a minor, to have sex.
A bench comprising Chief Justice D Y Chandarchud and Justices J B Pardiwala and Manoj Misra took note of the submissions of lawyer Karuna Nundy that the pleas needed to be heard.
We are in midst of constitution bench hearings. We can list this after the constitution bench matters are wrapped up, the bench said and asked Solicitor General Tushar Mehta and other lawyers how much time they would take in advancing their arguments.
I will take two days. This (issue) has social ramifications, the law officer said. A counsel for the petitioners said they would like to argue for three days.
Then it can be listed for hearing in April next year! the CJI quipped and later said the pleas would be listed for hearing in .

Supreme Court, Manipur violence

The Supreme Court on Friday refused to entertain a PIL seeking an audit of the software used in electronic voting machines (EVMs) used by the Election Commission.
A bench comprising Chief Justice D Y Chandrachud and Justices J B Pardiwala and Manoj Misra said no actionable material that the poll panel acted in breach of constitutional mandate in holding polls has been placed before it.
The Election Commission is entrusted with the control over elections. Presently, the petitioner places no actionable material before this court to show that the poll panel has acted in breach of its constitutional mandate. There is no material before us which casts doubt on EVMs, the bench said.
Before filing the petition, PIL petitioner Sunil Ahya had made representations to the Election Commission seeking an independent audit of the source code of the EVMs.
The source code is the brain behind the EVM and it is about survival of democracy, Ahya said.

The VVPAT machines, which will be attached to the EVMs, will allow voters to verify if their vote has gone to the intended candidate. (Photo: pib.nic.in)

VVPAT machines, VVPAT, EC, voting, EVMs,vote

The much-awaited movie Expendables 4 is finally released in theatres today. The movie is a sequel to Expendables 3, which was released in 2014. It is directed by director Scott Waugh

Expandables 4

Prime Minister Narendra Modi was accorded a warm welcome at the BJP headquarters here on Friday by the party's women wing, a day after Parliament passed the women's reservation bill.
A large number of women, including beneficiaries of several government schemes, were present at the party office to greet him.
Modi bowed to a group of beneficiaries, who garlanded and blessed him.
BJP president J P Nadda and women Union ministers, including Nirmala Sitharaman and Smriti Irani, and other party leaders were present on the occasion.
Nadda described the bill's passage as historic and credited Modi's foresight and resolve for the feat.
The prime minister has taken numerous steps to empower women.

PM Modi

Delhi has joined the "Race to Resilience", a UN-backed campaign to catalyse a step-change in the global ambition for climate resilience, with pledges including achieving a 25 per cent green cover within the next five years.
Delhi's participation in the "Race to Resilience", announced during an event at the Climate Week NYC on Wednesday, comes with a set of commitments aimed at enhancing climate resilience while fostering sustainable development.
These include investments in circular economy to re-purpose and reduce waste and in decentralised renewable energy sources to enhance access to clean and sustainable energy.
As part of the campaign, the Delhi government has also committed to increasing the green space and tree planting, aiming to achieve a 25 per cent green cover in the next five years.
According to the India State of Forest Report, Delhi's green cover currently stands at 23.06 per cent.
The government said initiatives, such as the Delhi City of Lakes project, will rejuven

Heatmap

MF distributors

MF distributors call upon Sebi to dial down total expense ratio cuts

MFs warn distributors against misuse of small town-linked incentive

Distributors gain as direct mutual fund investment platforms lose steam

Gold ETF flows shrink despite superior returns, shows Amfi data

Several MF distributors may have to go for name change after Amfi diktat

MF distributors call for halt on fresh purchases in multi-cap schemes

Distribution platforms look at offering loans against MF units to investors

MF distribution payouts slip to three-year low in FY20 amid market slump

At 10:1, life insurance agents outmatch mutual fund distributors

Allow MF distributors to give incidental advice to investors, says forum