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Sebi asks mutual fund houses to protect investors in small, midcap schemes amid surging inflow

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This came in the backdrop of strong flow in the small and midcap schemes of mutual funds over the last few quarters.

Published Date – 29 February 2024, 05:56 PM


Sebi asks mutual fund houses to protect investors in small, midcap schemes amid surging inflow


New Delhi: Capital markets regulator Sebi has asked mutual fund houses to put in place a framework to safeguard investors, who invested in smallcap and midcap schemes, amid a “froth building up” in these categories.

Also, the regulator has suggested steps such as restrictions on inflows in these segments, portfolio rebalancing, and laying guidelines to safeguard investors from the first-mover advantage of redeeming investors.

This came in the backdrop of strong flow in the small and midcap schemes of mutual funds over the last few quarters.

In a communication to Association of Mutual Funds in India (AMFI) on Tuesday, Sebi asked the industry body to inform trustees of all the mutual fund houses to frame a policy to protect the interest of investors of smallcap and midcap schemes.

“In the context of the froth building up in the small and mid-cap segments of the market and the continuing flows in the small and mid-cap schemes of mutual funds, trustees, in consultation with unitholder protection committees of the AMCs shall ensure that a policy is put in place to protect the interest of all investors,” the regulator said.

The market regulator said that “appropriate” and “proactive measures” should be taken by Asset Management Companies (AMCs) and fund managers to protect investors.

However, such a framework should not be restricted to moderating inflows and rebalancing of portfolios.

Additionally, the new framework should protect investors from the first-mover advantage of redeeming investors.

Further, fund houses are required to disclose the new policy on their website within 21 days, the letter mentioned.

During the three months ended December 2023, the mid-cap category garnered net inflows of Rs 6,468 crore, marking it the 12th-consecutive quarter of inflow.

Besides, the small-cap category experienced a net inflow of Rs 12,052 crore in the third quarter of fiscal 2023-24, which was the highest the category has witnessed ever over a quarter.

This was also the 11th-consecutive quarter in which the category witnessed net inflows. Strong, consistent net inflows and favourable market conditions propped up the assets under management for these segments.

Hyderabad

TSRTC Adilabad region earns Rs 3.41 crore from Medaram jatara

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TSRTC officials said the region registered profits on par with the revenues generated in 2020.

Updated On – 29 February 2024, 05:52 PM


TSRTC Adilabad region earns Rs 3.41 crore from Medaram jatara


Adilabad: The State-owned Telangana State Road Transport Corporation’s (TSRTC) Adilabad region earned Rs 3.41 crore by operating special bus services to Medaram during the recently concluded biennial Sammakka-Saralamma jatara.

“As many as 342 services were operated from five places such as Adilabad, Bhainsa, Nirmal, Asifabad and Mancherial parts to Medaram for the convenience of devotees. We registered 72,108 passengers, while the buses operated for 6.13 lakh km from February 18 to 24,” Adilabad regional manager Pagidimarri Solomon told ‘Telangana Today.’

TSRTC officials said the region registered profits on par with the revenues generated in 2020. It had transported around 70,000 passengers four years ago. The region saw a slump in its income during the biennial fair celebrated in 2022 due to the Covid-19 pandemic. However, it plied the nearly same quantum of bus services this time, considering 2020 as base year.

A total of 107 bus services were shuttled between Mancherial town and Medaram, while 72 services were operated from Asifabad to the village. Adilabad, Nirmal and Bhainsa depots provided 65, 58 and 40 services, respectively. Nirmal depot stood at the top by registering 63 percent of occupancy ratio (OR), while Adilabad was at the bottom with an OR of 57 percent.

Over 39,000 women passengers utilised Mahalaxmi scheme.

Even though the region did not provide information relating to the number of women passengers during the fairs of the forest deities in the past, 39,024 women passengers visited Sammakka-Saralamma goddesses by travelling in the bus services for free under the Maha Lakshmi scheme introduced this year. A total of 13,573 women passengers utilised the scheme in Mancherial depot alone, followed by Bhainsa which accounted for 9,014 female passengers.

In all, Mancherial depot was in the first position by ferrying 24,678 passengers, while Asifabad depot figured in the bottom with transporting 7,321 passengers. As many as 16,692 passengers used services of Bhainsa depot, while Adilabad and Nirmal depots shipped 13,946 passengers and 9,471 passengers, respectively.

Meanwhile, Mancherial depot recorded income of Rs 1.05 crore and stood in the top place among the five depots. Asifabad depot registered revenue of Rs 74.67 lakh, while Adilabad saw profits of Rs 67.99 lakh. Both Nirmal depot and Bhainsa depot earned income of Rs 86.8 lakh and 41.72 lakh, respectively.

Depot Buses Kms Earnings Passengers
Adilabad 65 1,26,405 67,99,504 13,946
Bhainsa 40 72,509 41,72,312 16,692
Nirmal 58 86,818 51,80,271 9,471
Asifabad 72 1,36,321 74,67,923 7,321
Mancherial 107 1,91,686 105,31,888 24,678
Total 342 6,13,739 3,41,51,898 72,108

Hyderabad

Drugs Control Administration cautions blood banks, asks them to adhere to charges fixed by GoI

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The DCA statement also pointed out that the processing charges for blood/blood components should be displayed prominently in the blood center premises so that it is conspicuously visible to the recipients.

Published Date – 29 February 2024, 05:39 PM


Drugs Control Administration cautions blood banks, asks them to adhere to charges fixed by GoI


Hyderabad: For blood and blood components such as plasma, platelets etc, blood banks should mandatorily adhere to the charges fixed by the Government of India and those engaged in overcharging would face stringent action, cautioned the Drugs Control Administration, Telangana.

V.B. Kamalasan Reddy, Director General, DCA, in a statement issued here on Thursday said instances of overcharging by blood banks for blood and its components, including fresh frozen plasma, platelet concentrate, single donor platelets, packed red cells etc., were uncovered during surprise raids conducted at nine blood centers.

The processing charges for blood and blood components by government and non-government blood centres were prescribed as per the Guidelines for Recovery of Processing Charges for Blood and Blood components issued by the National Blood Transfusion Council (NBTC).

Also, it is mandatory for all blood centres (government supported and non-government supported) to provide blood/blood component free of cost to patients, who require repeated blood transfusion as a life saving measure, such as Thalassemia , Haemophilia, Sickle Cell Anaemia and any other blood dyscrasia requiring repeated blood transfusion.

The DCA statement also pointed out that the processing charges for blood/blood components should be displayed prominently in the blood center premises so that it is conspicuously visible to the recipients.

“Blood banks should mandatorily adhere to the charges indicated above regarding blood and blood components. Stringent action shall be taken as per the law against overcharging blood centres,” Kamalasan Reddy said.

The public may report any complaints regarding overcharging by blood banks (blood centres) through the Drugs Control Administration, Telangana Toll-Free Number 1800-599-6969, which is operational from 10.30 am to 5 pm on all working days.

Processing charges for government blood centres:

Blood/Components

Whole Blood: Rs. 1100

Packed Red Cells: Rs. 1100

Fresh Frozen Plasma: Rs. 300

Platelet Concentrate: Rs. 300

Cryoprecipitate: Rs. 200

Processing charges for non-government blood centres: *

Whole Blood: Rs.1550

Packed Red Cells: Rs.1550

Fresh Frozen Plasma: Rs. 400

Platelet Concentrate: Rs. 400

Cryoprecipitate: Rs.250

India

FASTag KYC deadline ends today, here’s a step-by-step guide to avoid deactivation

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The NHAI’s mandate is aimed at making collection process easy at toll plazas and curbing misuse of FASTags as part of the ‘One vehicle, One FASTag’ initiative.

Published Date – 29 February 2024, 05:27 PM


FASTag KYC deadline ends today, here’s a step-by-step guide to avoid deactivation


Hyderabad: The National Highways Authority of India (NHAI) has mandated the completion of Know Your Customer (KYC) process for all FASTags by February 29, 2024 and announced that if users failed to do so, their FASTags would deactivated.

The NHAI’s mandate is aimed at making collection process easy at toll plazas and curbing misuse of FASTags as part of the ‘One vehicle, One FASTag’ initiative.

Earlier, the NHAI had set a deadline of January 31, 2024 and extended the date earlier this month.

How to update my FASTag KYC?

– For NHAI-issued FASTags

* Visit the NHAI website: https://ihmcl.co.in/

* Log in using your registered mobile number

* Go to “My Profile” and select “KCY”

* Follow the given instruction and submit the required documents via your bank’s website

– For Bank-issued FASTags

*Visit National Payments Corporation of India (NPCI) website: https://www.npci.org.in/what-we-do/netc-fastag/product-overview.

* From the given list, choose you bank’s FASTag portal and follow the instructions specified

Offline mode:

* Visit you FASTag issuing bank with your PAN, ID proof, Address proof and passport sized photograph

* request for a FASTag KYC form and submit it at the bank with all the required documents.

Top News

National Camp For Senior Wrestlers To Begin After Trials: WFI

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The Wrestling Federation of India (WFI) is gearing up for the senior National camp after almost 15 months with Delhi likely to replace Patiala as the venue because of the ongoing farmers’ protest. The WFI-organised National camps are on hold since January 2023 when the country’s three elite wrestlers accused then WFI president Brij Bhushan Sharan Singh of sexual harassment, a controversy that pegged back Indian wrestling. The ad-hoc panel, which was entrusted with managing the day-to-day affairs due to the suspension of the WFI, had started the training camp for men (Rohtak) and women (Patiala) after conducting its own Nationals in Jaipur.

The WFI, after United World Wrestling (UWW) lifted its suspension, announced the trials to select the nationals teams for the Asian Wrestling Championships in Bishkek (April 11-16) and the Continental Olympic Qualifier in the Kyrgyzstan capital (April 19-21).

“After we conduct these trials, the top-four in each category will be invited to be part of the National camp,” WFI president Sanjay Singh told PTI.

“We have not yet finalised the venues for the camps,” the sports administrator from Varanasi, added.

It has been learnt that the SAI centres in Sonepat will, as usual, be the venue for the men’s camp and the IG Stadium here could host the women’s camp.

“The Lucknow SAI centre is out of question and we have to choose between Patiala and Delhi. As of today, the restriction on movement in and around of Punjab will make it a bit inconvenient for everyone to reach Patiala. So, probably, we can request the government to provide the IG Stadium for the women’s camp,” said a WFI source.

WHO WILL COMPETE IN TRIALS?

The four-best wrestlers at the recently concluded Nationals in Jaipur (conducted by the ad-hoc panel) and Pune (conducted by WFI), have been invited to compete in the trials.

Those who did not compete in either Nationals but are good performers will also be allowed to compete.

“We will invite not just the winners of the trials but also the finalists and the semifinalists for the national camp. If the runner-up or number 3-4 are not interested, which happens sometimes, then that camp spot will be offered to the next best wrestler and so on,” informed the source.

AGE GROUP NATIONALS IN NOIDA

It has also been learnt that the WFI has decided to conduct the U15 and U20 Nationals from March 28 to 30 in Noida.

The winners, finalists and the two semifinal winners will later be asked the join the National camp.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

Topics mentioned in this article

Business

Reliance Industries shares climb nearly 1 pc-Telangana Today

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The stock of the country’s most valued firm in terms of market valuation ended at Rs 2,924.75, up 0.54 per cent on the BSE.

Published Date – 29 February 2024, 05:29 PM


Reliance Industries shares climb nearly 1 pc


New Delhi: Shares of Reliance Industries on Thursday ended nearly 1 per cent higher after Walt Disney Co and the firm announced the signing of binding pacts to merge their media operations in India to create a Rs 70,000 crore behemoth.

The stock of the country’s most valued firm in terms of market valuation ended at Rs 2,924.75, up 0.54 per cent on the BSE.

During the day, it climbed 1.68 per cent to Rs 2,958. Shares of the company ended with a gain of 0.66 per cent at Rs 2,930.75 on the NSE.

During the day, it went up by 1.60 per cent to Rs 2,957.95. The company’s market valuation stood at Rs 19,78,794.25 crore.

In the broader equity market, the 30-share BSE benchmark climbed 195.42 points or 0.27 per cent to settle at 72,500.30, and the Nifty went up by 31.65 points or 0.14 per cent to 21,982.80.

Under the deal, coming just over a month after the failed USD 10 billion merger of rivals Zee and Sony, Reliance and its affiliates will hold 63.16 per cent in the combined entity that will house two streaming services and 120 television channels.

Disney will hold the remaining 36.84 per cent, the companies said in a statement on Wednesday. Reliance has also agreed to invest at closing Rs 11,500 crore into the joint venture to give it the muscle to fight rivals such as Japan’s Sony and Netflix.

Media ventures of Reliance are housed in Network 18, which owns TV18 news channels as well as a plethora of entertainment (under the ‘Colors’ brand) and sports channels.

NW18 also has stakes in moneycontrol.com, bookmyshow and publishes magazines. Its subsidiary NW18 owns news channels CNBC/CNNNews. Reliance separately owns a movie production arm – JioStudios, and majority stakes in two listed cable distribution companies, Den and Hathway.

Top News

'Spring Came Early': February Likely Warmest On Record Amid Climate Change

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'Spring Came Early': February Likely Warmest On Record Amid Climate Change

Heat waves hit Argentina, Peru, Brazil, and Chile this month.

The world likely notched its warmest February on record, as spring-like conditions caused flowers to bloom early from Japan to Mexico, left ski slopes bald of snow in Europe and pushed temperatures to 100 degrees Fahrenheit (38 C) in Texas.

While data has not been finalised, three scientists told Reuters that February is on track to have the highest global average temperature ever recorded for that month, thanks to climate change and the warming in the Eastern Pacific Ocean known as El Nino.

If confirmed, that would be the ninth consecutive monthly temperature record to be broken, according to data from the U.S. National Oceanic and Atmospheric Administration. NOAA will publish final figures for February around March 14, according to its press office.

In the Northern Hemisphere, the record temperatures mean that “springtime comes earlier,” according to Karin Gleason, an atmospheric scientist at NOAA said last week.

“I was just in the eastern part of North Carolina yesterday and saw some trees in full bloom with blossoms all over the trees and I’m thinking – It’s February. This just seems really odd.”

People in Tokyo similarly snapped photos of pink cherry blossoms that bloomed about a month earlier than usual, while jacaranda trees that normally blossom in late March have filled Mexico City with purple buds since January.

As snow melted in Europe this month, ski runs turned to mud and sat idle in Bosnia and Italy, while one French resort rebranded its slopes as a hiking and biking destination.

In the United States, temperatures were up to 40 degrees Fahrenheit (22 degrees Celsius) above normal this week, with the town of Killeen, Texas setting a record of 100F (38 C).

The added heat from global warming wreaks havoc on global systems, helping melt glaciers in the poles and mountains, raising sea levels, and driving extreme weather, said Anders Levermann, a physicist at the Potsdam Institute for Climate Impact Research.

Record high temperatures in the summer – now underway in Southern Hemisphere – generally leads to a spike in heat-related deaths, said Jane Baldwin, an atmospheric scientist at University of California Irvine.

“Heat is a substantial silent killer,” she said.

Heat waves hit Argentina, Peru, Brazil, and Chile this month, with the hot and dry conditions also contributing to wildfires near Santiago killing at least 133 people.

Gleason said that the El Nino is expected to dissipate by mid-2024 and could quickly shift to La Nina – a cooling in the Eastern Pacific – which might help to break the hot streak toward the end of the year.

Still, NOAA predicts there is a 22% chance that 2024 will break 2023’s record as the hottest year, and there is a 99% it will be in the top 5, Gleason said.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

Hyderabad

CM releases DSC notification for 11k teacher posts

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Roads and Buildings Minister Komatireddy Venkat and other senior officials were also present on the occasion.

Published Date – 29 February 2024, 05:23 PM


CM releases DSC notification for 11k teacher posts

File Photo

Hyderabad: Chief Minister A Revanth Reddy released the DSC notification for filling up 11,062 teachers posts in the State.

Roads and Buildings Minister Komatireddy Venkat and other senior officials were also present on the occasion.

The State government had issued GO Ms 96, on August 25 last year to fill up 5089 teaching posts under various categories, including SAs, SGTs, LPs & PETs.

Accordingly, the Commissioner, School Education, Telangana, issued the DSC-2023 Notification on September 6, 2023 for the 5089 teacher posts.

Another GO was issued on Monday to fill up 4,957 Direct Recruitment teacher posts under various categories in Government and Local Body Schools in the State. The Finance department permitted to fill up 796 Special Education Teachers in Primary Level and 220 Special Education Teachers in Upper Primary/Secondary Level in Government and Local Body Schools in the State, totaling to 11,062 Direct Recruitment posts for DSC-2024.

In view of the above, the State government decided to cancel the teacher recruitment of DSC-2023 Notification for 5089 vacancies and accordingly, issued a comprehensive fresh notification.

All the candidates, who applied in response to the earlier notification need not worry, officials said, adding that their applications would be automatically carried forward in the fresh notification. They need not apply again.

Prescribed applications will be available on https://schooledu.telangana.gov.in website from March 4, 2024 to April 2, 2024 for recruitment to the posts of SAs, SGTs, LPs, PETs and Special Education Teachers in Primary Level and Special Education Teachers in Upper Primary/Secondary Level in Government and Local Body Schools in the State through District Selection Committee-2024 for (11062) posts in all categories.

The Information Bulletin will be available on https://schooledu.telangana.gov.in website from March 4, 2024 which can be downloaded free of cost. The fee to be paid towards application processing and written test is Rs.1000 per post. Candidates intending to appear for multiple posts should have to pay the fee of Rs.1000 separately for each post and submit separate applications for each of the post applying for.

The fee can be paid online using Credit Card, Debit Card / Net-banking service through the payment gateway link to be provided on https://schooledu.telangana.gov.in website from March 4, 2024 to April 2, 2024 and submission of application can be done from March 4, 2024 to April 3, 2024. The step by step procedure for submission of application through online will be given in the user guide on https://schooledu.telangana.gov.in website from March 4, 2024. The post, community and medium wise vacancies in each district will be available on https://schooledu.telangana.gov.in website from March 4, 2024.

The candidates should be of minimum 18 years and maximum of 46 years. The age is reckoned as on July 1, 2023. However, there is age relaxation for different category candidates.

The written test will be Computer Based Recruitment Test (CBRT) and will be conducted online at Mahabubnagar, Rangareddy, Hyderabad, Medak, Nizamabad, Adilabad, Karimnagar, Warangal, Khammam, Nalgonda and Sangareddy centres.

The examination dates will be announced later and the details of eligibility criteria, rule of reservation structure and syllabus for each category of post etc., are given in the Information Bulletin.

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Telangana Student, Barred From Exam For Reaching Late, Dies By Suicide

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Telangana Student, Barred From Exam For Reaching Late, Dies By Suicide

Tekum Siva Kumar was upset after he missed his exam

Hyderabad:

A Class 11 student, upset after he was barred from taking an exam because he reached late, has died by suicide in Telangana’s Adilabad district.

The body of Tekum Siva Kumar was recovered from Satnala dam this afternoon. A suicide note was found near the landing he must have jumped from. His watch, wallet and other items were found with the note. In his wallet were two photographs – his and his father’s.

The note in Telugu read, “I am sorry, daddy, forgive me. I am not able to cope with this trauma. You have done a lot for me, but I am not able to do anything for you. I have never felt this bad. I have missed the exam for the first time. I am feeling terrible,” the note says.

Heart-rending scenes were witnessed near the dam when the youngster’s body was brought out of the water and his relatives broke down.

About 10 lakh students of the Telangana state education board are taking the intermediate exams that started yesterday. Siva Kumar’s death has brought under the spotlight a strict rule of the Telangana board that a student won’t be allowed to take the test even if he reaches the exam centre a minute late. As the exams started, students were seen running to their exam centres. Many of them, barred from taking the exam because they were late by a few minutes, were seen crying outside and pleading with the examiners to let them in.