The Drugs Controller General of India (DCGI) has directed that online sales of drugs would be barred until draft regulations regarding e-pharmacies are formed and issued, a Mint report said.This was circulated to states, union territories and the Health Ministry for information and action. The e-pharmacy rules are currently in the draft stage, the paper quoted a Central Drugs Standard Control Organisation (CDSCO) source as saying.Moneycontrol could not independently verify the report.Close The order by DGCI VG Somani dated November 28 prohibits unlicensed platforms from selling medicines. It is likely to hit companies that invested heavily in the space without regulatory drag, the paper added. related news UTI AMC-PSUs-SEBI Saga: Is it a special case treatment of SEBI relenting with extension for stakeholders SBI, LIC and BoB? This week in Auto: Carmakers keep December unusually hot; Bajaj launches Husqvarna in India Tax cuts under consideration, focus on boosting … [Read more...] about Govt bans online sale of drugs by unlicensed platforms: Report
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?
Rahul JainWhen we start our investment journey, along with the anticipation of returns one of the first things we evaluate is the risk appetite. Risk appetite denotes the magnitude of risk an investor can stomach based on his goals and expected returns. But justifying your risk can often leave you confused.I believe the easiest way to come to a solution is to ask the right. Hence I list down some essential questions answering which will help you analyse this essential investment metric and this article will help you dig deep into them. Let’s get started.Close How vital is your investable surplus?Rahul JainEVP|Edelweiss Wealth Management 4 strategies to sail smooth during market volatilityNifty flirts with 12K: 4 common equity investment mistakes you must avoid'Auto & ancillaries, midcap financial and infrastructure stocks likely to lead next bull run'This is the first question that you need to answer while gauging your risk appetite. The value of money or rather an investable … [Read more...] about How to evaluate your risk appetite?
Much has been made of the support given to demonetisation by Krishnamurthy Subramanian, the government’s new Chief Economic Advisor. To be sure, he did write in his columns that demonetisation was a revolutionary act and that the poor were not the worst affected. He had disparaging things to say about the policies of the Gandhi dynasty, just before the elections to the Uttar Pradesh state assembly. He also wrote about the rise of crime in Uttar Pradesh under Mayawati and the Samajwadi Party, again just before the elections there.But while these views may have earned him brownie points among the powers that be, to his credit Subramanian hasn’t shied away from having independent views on several other subjects. For instance, he castigated the move to remove former Reserve Bank of India Governor Raghuram Rajan, who had been his teacher; saying we don’t treat our heroes well. He has been critical of the non-implementation of several of the recommendations of the PJ … [Read more...] about Quick Take | Gandhi family critic, Raghuram Rajan fan: How CEA Krishnamurthy sees the world
Manas ChakravartyAt last, we know why the central government was so keen on trying to get the Reserve Bank of India (RBI) to part with its reserves or to speed up bank lending. It was a bit of a mystery why the government of the fastest-growing large economy on the planet was so concerned about growth. The results of the state elections tell us that huge sections of the population were being left out of that growth and the ruling party knew that and was terribly worried about it.The signs of disenchantment have been visible for quite some time. As we pointed out a few days ago, the Reserve Bank of India’s consumer confidence survey showed widespread pessimism about the economy, which has now been translated into votes against the government.Close Is there reason for concern? These were state elections, where local issues dominate and things may well be different in the national elections. More fundamentally, as some economic commentators point out, do governments really make all … [Read more...] about Opinion | What the results of the state elections mean for Modi’s Brave New India