MFs irked by SEBI to check ‘Smart’
– The mutual fund industry is taken aback by the
Securities and Exchange Board of India’s plan to
take a relook at a system that allows investors to
take advantage of the cut-off timings for accepting
cheques in liquid funds.
– SEBI may change system where investors mostly
corporate put money in liquid schemes usually on
Friday or Monday before 12pm to get the previous
Food Inflation falls for third straight
– Food inflation eased for the third week running to
the lowest level in 12 months. Inflation for food
items stood at 12.85% for the week ended
October 23 declining from 13.75% in the previous
– Index for food item declined by 0.2% reflecting an
actual decline of prices due to fall in the prices of
pulses, fruits and vegetables.
RBI bans 3 MNC banks from trading in
gilts for 6 months
– The Reserve Bank of India has pulled up some
foreign banks in India amid investigations into
circular trading in Government Bonds.
– The Board of Financial Supervision has decided to
impose certain restrictions on the market
operations of these foreign banks. The Central
Bank has decided on a six month trading ban on
three foreign banks. Standard Chartered Bank,
Society General and Caylon are among these
New CPI index to be based upon State
– The new consumer price indices set to be rolled
out from January will be a ground up compilation
of inflation with price index for each state adding
up to a National Index.
– From January onwards each state will have two
consumer price indices one for rural and another
for urban areas. These indices will be added in
National Rural Retail and Urban indices.
Land Acquisition Act Likely Soon
– The centre will announce the relief and
rehabilitation programme for land acquisition.
Government is planning to have land acquisition
act soon but there are still some areas where land
acquisition is inevitable like the roads sector.
– Roads widening will require land besides existing
roads. Hence government is in talk to think upon
this factor before implementation of the act.