Securities and Exchange Board of India (SEBI), in an order dated December 6, 2019, revealed charging a show-cause notice on stakeholders of UTI Asset Management Company (AMC) - State Bank of India, Life Insurance Corporation, and Bank of Baroda on July 19, 2019, towards regulatory action.The market regulator directed three public sector financial institutions -- LIC, SBI, and Bank of Baroda -- to dilute their stakes to below 10 percent in by December next year.In the case of non-compliance with directions, the shareholding and voting rights of these entities in UTI AMC and UTI Trustee in excess of 9.99 percent and corporate benefits will be frozen till the time they comply with the orders.Close The stakeholding of SBI, BoB, and LIC in UTI AMC is in contravention of an amendment to SEBI MF Regulations on March 13, 2018, requiring an asset management company (AMC) to be a sponsor and stakeholder holding 10 percent or more, of only one mutual fund, thereby reducing cross-holding in any … [Read more...] about UTI AMC-PSUs-SEBI Saga: Is it a special case treatment of SEBI relenting with extension for stakeholders SBI, LIC and BoB?
Editors fall under utilities of operating system
The income tax department has carried out search operations on certain share-brokers and traders for allegedly executing fraudulent trades in illiquid stock options.Over 39 locations spread across Mumbai, Kolkata, Kanpur, Delhi, Noida, Gurugram, Hyderabad and Ghaziabad were covered under the operation, the department said in a statement on December 7.These brokers were involved in facilitating accommodation of profits/loss through reversal trades in illiquid stock options in equity derivative segment and also currency derivative on the BSE, it said.Close The search or survey action has unravelled the entire modus-operandi which has been adopted by the share-brokers and traders to trade into the illiquid stock options in equity derivative segment and thereby generate artificial losses or profit by executing reversal trades in a very short span of time. related news 63.36% votes cast in second phase of polling in Jharkhand Nirbhaya convict writes to Prez, seeks withdrawal of … [Read more...] about Income tax dept conducts search ops on stock brokers, traders across country
The chairman of the House Transportation and Infrastructure Committee urged Uber Technologies Inc to take action after the company disclosed on December 5 it received over 3,000 reports of sexual assault-related to its 1.3 billion rides in the United States last year.Representative Peter DeFazio, a Democrat, on December 6 praised Uber for releasing the information, but said Uber and other companies must do more "to establish formal policies, training and reporting structures.""As a country, we must ensure safety is a priority, and make it clear that sexual assault and harassment will not be tolerated anywhere, no matter where it occurs," he said.Close DeFazio in November introduced legislation to help track and prevent incidents from occurring in different modes of transportation, including ridesharing companies. It was approved by the committee and now awaits action by the full US House. related news Trump calls for World Bank to stop loaning to China Dollar shines … [Read more...] about US lawmaker says Uber must take action after disclosing sexual assault reports
We went on and on about new smartphones and stunning new buildings this year, but many of the best designs of 2017 were actually hidden in the software all around us. It’s the little things–from the interface on that new Pixel 2 to the algorithm that designed this new concert hall–that are really changing the way we use products. advertisement advertisement In 2017, we saw that play out again and again, across social media and even social justice. It was software that drove the biggest stories this year, and gave us a glimpse at what next year’s technology will bring. With that in mind, we looked back at the best interfaces of the year. Microsoft Fluent Design No company–not Apple, Facebook, or Google–has quite figured out how to integrate the old world of 2D devices with the new world of 3D or mixed reality hardware. Enter Fluid Design by Microsoft. It’s not a finished product, but a thesis: that animations and objects … [Read more...] about The 14 Most Important Interfaces Of 2017
Shishir Asthana"Do not judge me by my success, judge me by how many times I fell down and got back up again."These words from Nelson Mandela are true for every successful person, be it a businessman, sportsperson, musician or a trader. It is especially true in the case of Asit Baran Pati, who rose like a phoenix from the ashes of his creation.Close From a well paying Investment Banking job to live off his mother’s pension money, Asit has seen it all. It was his confidence and persistence in search of a winning formula and sticking to it that made him a successful trader. The taste of freedom between jobs when he attempted to trade fulltime, was his driving force. related news How Vishal Mehta undertook a journey from discretionary to system trading for consistent gains Mitesh Patel: The angry young man of options trading Sushil Bhagat: An all-round investor, options trader and successful corporate executive A short term momentum trader and a scalper, he is among the … [Read more...] about Asit Baran Pati | An options buyer journey to financial freedom