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Sebi plans to lower expenses charged by mutual funds

The regulator is also looking to amend the regulatory framework to enable disclosures related to mutual funds in investor-friendly electronic form.Under this, mutual fund houses need to prominently disclose on a daily basis the total expenses charged to customers for all schemes under a separate head on their websites. Besides, they need to communicate to investors latest net asset value (NAVs) through SMS following a request from the unitholder.

LIC exceeds target in individual segment, piles up Rs 5 trn of assets in FY 2017-18

“We have exceeded current fiscal target of Rs 38,000 crore  by achieving 12-15 per cent growth in  the premium income in the individual segment. We will have a premium income of around Rs 42-43,000 in this segment by the end of the current fiscal, We have also almost added another Rs 5 trillion of assets to existing assets of Rs 25 trillion during the year,’’ said VK Sharma, chairman, LIC  to Asia Insurance Post.

Market crash wipes out Rs 1.57 lakh crore of investor wealth

“The fears of a global trade war played a major role in today’s fall across global markets. Locally, markets have been facing headwinds since the start of February, be it the imposition of long term capital gains or the much talked about banking fraud. This being a politically busy year in India, volatility can stay high for an extended period,” said Devang Mehta, Head – Equity Advisory, Centrum Wealth Management. 

FIR by CBI against officials of United India, Deccan Chronicle Holdings, CARE and IDFC, alleges collusion to defraud UII Rs 30 cr

CBI has  alleged that A Balasubramanian (former Deputy General Manager of UIIC’s investment department,) and K L Kunjilwar (ex-chief manager),made suspicious investments through the privately placed short term unsecured redeemable non-convertible debentures issued by DCHL in 2011 in violation of the regulations,instructions and procedures.

Facebook ‘made mistakes’ on Cambridge Analytica, says Zuckerberg

In a Facebook post, Mr. Zuckerberg said it will ban developers who don’t agree to an audit. An app’s developer will no longer have access to data from people who haven’t used that app in three months. Data will also be generally limited to user names, profile photos and email, unless the developer signs a contract with Facebook and gets user approval.

Robots can be risky,Allianz

AI-based applications will increase vulnerability of businesses to cyber-attacks and technical failure, leading to larger-scale disruption and loss scenarios
•Companies face liability challenges as responsibility shifts from human to machine and manufacturer. New framework needed to manage rise in AI-generated damages
•Risk management can help maximize the net benefits of AI. Five areas are crucial for identifying threats: software accessibility, safety, accountability, liability and ethics
•    Insurance industry is an early adopter of AI applications to automate repetitive processes, boost risk analysis and improve customer interaction