Mutual funds are one of the most preferred investment options these days. A mutual fund is an investment fund that is managed by a fund manager. The money invested by individual investors is pooled in to purchase different kinds of securities. The portfolio of securities is diverse and is tailored as per the investment goals of the investors. Mutual funds are considered to be a less risky investment option.On the basis of the subscription period, mutual funds can be classified into two categories – close-ended mutual fund and open-ended mutual fund. In a close-ended mutual fund, a fixed number of units are issued which are traded on the stock exchange. A closed-end fund functions like an exchange-traded fund. How does closed-end fund work?As per the guidelines of the securities market regulator SEBI, a mutual fund is launched through a New Fund Offer which can be open for a maximum of 30 days. The funds are then traded in the open market like shares. The price of the fund is … [Read more...] about Close-end funds: What is close-ended Mutual Fund and how it works
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The Reserve Bank of India, Enforcement Directorate, the Economic Offences Wing of the Mumbai Police and administrators of PMC Bank have formed a coordination team to expedite action in the PMC Bank case.Today, RBI Governor Shaktikanta Das, ED Director Sanjay Kumar Mishra, Mumbai Police Commissioner Sanjay Barve and PMC Bank Administrator JB Bhoria today met at the RBI headquarters to discuss next steps in the case.The PMC Bank case came to light after it emerged that realtor HDIL owed the bank Rs 4,355 crore, and the RBI restricted withdrawals from the bank to prevent a run on it.Close HDIL took loans from PMC Bank well in excess of regulatory limits, and actions since the scam broke out have uncovered instances of money laundering, siphoning and fraud. related news PMC Bank case: Former BJP MLA's son arrested SC dismisses ED plea challenging bail to Shivakumar in money laundering case Mumbai Police arrest two auditors in PMC Bank scam case With a view to returning money to … [Read more...] about PMC Bank scam: RBI, others move closer to selling HDIL land to return depositor money
In 2016, the Toronto Star‘s long-serving film critic, Peter Howell, suffered an internet beat-down to remember. In an attempt to praise the film Moonlight, he called out director Barry Jenkins’s resistance to any kind of “coatswitching”—cleaning up street vernacular, to better gain acceptance with mainstream society. There was just one problem: The term isn’t “coat switch.” It’s “code switch.” Twitter flayed Howell, then boiled his bones for soup. The hashtag #coatswitch almost immediately became a byword for racial cluelessness. Thus did a well-meaning attempt to support a black filmmaker end up making its author look like a fool. advertisement advertisement This might seem like a goofy accident, readily avoided by anyone else keen on the mores of social media. But a surprising new study sponsored by the Knight Foundation, out today, reveals that the #coatswitch incident isn’t the exception when it comes … [Read more...] about Two Charts Showing How The Mainstream Media Gets Minorities Wrong
When Chipotle announced that its menu is now GMO-free, the Internet exploded in cheers from the group of people horrified that genetic modification is going to cause all sorts of unforeseen medical problems, and righteous indignation from scientists and the people who listen to scientists. advertisement advertisement Among the headlines from major publications: Why Chipotle Mexican Grill Going GMO-Free is Terrible News, Chipotle’s GMO gimmick is hard to swallow, and Chipotle’s junk science on GMOs. There is plenty of support from the public, though. An analysis of social media sentiment after the fact found that 42% of responses to the announcement were positive, compared to 31% negative (the rest were neutral). So this was probably a smart marketing move for the company, if nothing else. But Chipotle says that its decision wasn’t motivated by public opinion. It is, according to Chris Arnold, Chipotle’s communications director, part of the … [Read more...] about The Story Behind Chipotle’s Dubious Decision To Defy Scientists And Go GMO-Free
Late in 2013, a group of investors and entrepreneurs sat onstage at Fast Company’s Innovation Uncensored event and announced a new initiative: The Smart Tech Foundation would put $1 million toward spurring innovation to create safer gun technologies. The goal would be to sidestep the political gridlock surrounding gun safety and look instead to “free market alternatives.” If government couldn’t solve the problem, maybe innovation could. advertisement advertisement “We looked at this and said there’s been a systemic failure in the level of innovation and capitalization in this area,” serial entrepreneur Jim Pitkow told Fast Company at the time. He, alongside angel investor Ron Conway, are two of the foundation’s chief backers. “Well, we know how to foster innovation.” More than 200 people applied for a piece of the grant. The foundation chose 15 applicants with what seemed like the most promising ideas, from … [Read more...] about Whatever Happened To That So-Called “Smart Gun”?