Top Headlines: Ripples in MF industry; IISc shines in world univ rankings

The Securities and Exchange Board of India’s (Sebi’s) order directing Franklin Templeton Mutual Fund to return over Rs 500 crore of fund management fees is likely to instill fear in mutual funds industry. The Indian Institute of Science (IISc), Bengaluru continued to lead the country in the latest QS World University Rankings 2022.

Business Standard brings you the top headlines on Wednesday.




Sebi’s Franklin Templeton order sends ripples across MF industry

The Securities and Exchange Board of India’s (Sebi’s) order directing Franklin Templeton Mutual Fund to return over Rs 500 crore of fund management fees is likely to instill fear and ensure strict discipline in the Rs 32-trillion asset management industry, said market observers.

Industry players said most fund houses could soon take stock of their investment practices in light of the Sebi order, which gives key insight into the regulatory thought process. Read More

IISc is world’s top research university in QS rankings

The Indian Institute of Technology (IIT) Bombay, IIT Delhi and the Indian Institute of Science (IISc), Bengaluru continued to lead the country in the latest QS World University Rankings 2022. These three were also the only Indian institutions that made it to the top 200 globally. Leading global higher education analysts QS (Quacquarelli Symonds) released the 18th edition of one of the most-consulted international university rankings, which featured a total 35 Indian institutions, of which seven were new entrants. Read More

Auto industry chases the monsoon, but analysts are less optimistic

Covid-19 has ravaged rural India, sapping its once rising purchasing power, but auto companies with high dependence on the region, including Hero MotoCorp, Mahindra & Mahindra (M&M) and Maruti, don’t see such a bumpy road ahead.

Each of these compa­nies draw over a third of their sales from the rural markets.

They are banking on the forecast of a good monsoon and a bumper summer crop plus sustained government support to help rural India bounce back as soon as the pandemic recedes. Read More

Private equity investors see big global, sovereign funds as main threat

India’s private equity (PE) and venture capital (VC) players say that their biggest competitive threat in the next 12 months will come from large global PEs and institutional funds, such as sovereign funds in West Asia, that invest directly and dominate the Indian PE landscape.

A Bain India Private Equity Survey of investors points out that as much as 72 per cent of them see the big global PE firms as a competitive threat, while 40 per cent point to LPPs or institutional investors and sovereign funds as a threat. Read More

Covid-19 vaccine policy change likely to resolve GST rate cut demand

The Centre’s new vaccine procurement policy may lay to rest the demands for tax cut in Covid-19 vaccines.

Although the Group of Ministers (GoM) headed by Meghalaya Chief Minister Conrad Sangma has not made any concrete recommendation on rates for vaccine, the demand made by some states to lower it may be practically met after the change in vaccination policy.

The Centre will now procure 75 per cent of all the vaccine produced in the country and provide them to states for free. Read More

World Bank slashes India’s FY22 GDP growth forecast to 8.3%

The World Bank on Tuesday has slashed India’s GDP forecast to 8.3 per cent for FY22, the fiscal year starting April 2021, as against its earlier estimate of 10.1 per cent.

It has further projected India’s growth to be 7.5 per cent in 2022, even as its recovery is being hampered by an unprecedented second wave of the Covid-19, the largest outbreak in the world since the beginning of the deadly pandemic. Read More

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