Insurance
Domestic helps, hawkers from Delhi to get cashless health insurance

Each family comprising a maximum of five members residing in Delhi, will have to make a token payment of Rs30 and it will be entitled to medical benefits of up to Rs30,000 per year in empanelled hospitals

 
New Delhi: In a bid to ensure better medical care to the economically weaker section, Delhi Government has decided to extend cashless health insurance cover to domestic helps, street vendors, railway porters and hawkers in the city, reports PTI.
 
The health insurance cover to the new categories will be provided under the Rashtriya Swasthya Bima Yojna (RSBY) and it will benefit nearly eight lakh families comprising around 40 lakh people, Delhi Health Minister AK Walia said.
 
Currently, the scheme covers all below poverty line (BPL) families, construction workers registered with Delhi Building and Other Construction Workers Welfare Board and 'most vulnerable families' in the city identified by the Social Welfare department.
 
"The scheme covers about one lakh families having about five lakh members. Inclusion of the new categories is expected to benefit eight lakh families in Delhi comprising about 40 lakh members," Walia said.
 
To avail the benefit of the scheme, each family comprising a maximum of five members, will have to make a token payment of Rs30 and it will be entitled to medical benefits of up to Rs30,000 per year in empanelled hospitals.
 
The premium under this scheme is paid by the Central and city governments on behalf of the beneficiary.
 
On registration, beneficiaries will be issued a smart card which contains essential information of the family. The card makes the family members entitled for cashless treatment facilities at selected hospitals.
 
The registration of beneficiaries will start next month, Walia said.
 
The decision to include new categories under the scheme was taken at a meeting attended by representatives of three Municipal Corporations, NDMC, Northern Railway, Delhi Medical Association, Oriental Insurance Company and the Labour Department, which is the nodal department to implement the scheme. 
 
The Rasthriya Swasthya Bima Yojna, the flagship scheme of the Union Ministry of Labour and Employment was launched to provide medical care to the poorest of the poor.
 
Walia directed all stakeholders to extend their full co-operation in ensuring effective implementation of the scheme.
 
"I have asked all the agencies concerned to ensure that the scheme covers maximum number of eligible families so that the citizens are not compelled to go to quacks or take loans for the medical treatment of their near and dear ones," Walia said.
 
He said domestic workers can approach either Resident Welfare Associations or the Office of Sub-Divisional Magistrates to get the their names enrolled under the scheme while vendors can approach municipal bodies.
 
The Railway porters should contact the local railway authorities for availing the benefits of the scheme.
 
The details of the scheme can also be obtained from the toll free helpline number 12789 (toll free).
 

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SEBI drops insider trading charges against Vakrangee Softwares

In two separate orders, SEBI, exonerated Vakrangee Softwares along with its eight executives from the charges, saying 'there is no history of any irregularity or indulgence of any violation' by the these entities

 
Mumbai: Market regulator Securities and Exchange Board of India (SEBI) has dropped charges against Vakrangee Softwares and its eight executives, related to violations of insider trading norms, reports PTI.
 
In two separate orders, SEBI, exonerated Vakrangee Softwares (VSL) along with its eight executives from the charges, saying "there is no history of any irregularity or indulgence of any violation" by the these entities.
 
The regulator has dropped charges against company's compliance officer, Pratik Bhanushali, its Finance Head Prem Meiwal and six directors- Dinesh Nandwana, NK Hayatnagarkar, Ramesh M Joshi, Anil Patodia, Sunil Agarwal, BL Meena and BK Gupta.
 
SEBI in its probe had found that Meiwal had sold significant quantities of VSL's shares prior to the announcement of results for the quarter ended March 2009.
 
During the quarter ended 31 March 2009 VSL incurred a loss of Rs29.72 crore compared to a profit of Rs4.03 crore made by the company in the quarter ended 31 December 2008 due to write off of certain IT assets.
 
However, the investigation could not conclusively establish that Meiwal has traded while in possession of unpublished price sensitive information (UPSI) related to the company.
 
SEBI's probe had revealed that Bhanushali failed to implement the code of conduct in order to prevent insider trading and six directors had failed in supervision and ensuring that the required compliance with regard to the code.
 
Besides, it was also alleged that VSL has wrongly disclosed Prem Meiwal and Nishikant Hayantnagarkar as promoters of the company during March 2008 to September 2009, for misleading the investors.
 
"VSL has also failed to frame, adopt and enforce the code of internal procedures and conduct as near thereto the model code of conduct without diluting it in any manner and ensure the compliance of the same," SEBI had found.
 

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SBI MF, L&T Mutual Fund to discontinue 19 schemes

About 10 schemes of SBI MF and nine schemes of L&T MF would be discontinued for fresh SIP registration and subscription

 
New Delhi: SBI Mutual Fund and L&T Mutual Fund have decided to discontinue 19 schemes cumulatively for fresh systematic investment plan (SIP) investments to comply with 'one-plan, one scheme' guidelines issued by market regulator Securities and Exchange Board of India (SEBI), reports PTI.
 
The two fund houses have informed the BSE, where these schemes were listed, that 10 schemes of SBI MF and nine of L&T MF would be discontinued for fresh SIP registration and subscription.
 
Earlier this month, five fund houses, including leading players including Reliance and ICICI Prudential MF, had listed out a total of 190 schemes that have been discontinued for fresh SIP investments to comply with SEBI guidelines.
 
The move follows new SEBI regulations, which require fund houses to launch only one plan per scheme with effect from this month. The SEBI direction has affected hundreds of schemes across the found houses.
 
Reliance MF, ICICI Pru, HSBC, Morgan Stanley and IDFC Mutual Funds have already communicated the required changes in their schemes to the BSE, where many of their schemes are listed for trading.
 
SIP offers mutual fund investors an option to invest as low as Rs100 per month and have gained popularity in the market in recent past.
 
However, many fund houses have launched multiple SIP plans under one scheme, prompting market regulator SEBI to ask them to move to 'single plan per scheme' model in a move to make the investment process simpler for investors.
 
The five fund houses had also communicated to the BSE a list of 22 schemes where the Minimum Purchase Amount and Additional Purchase Amount have been lowered as per SEBI guidelines.
 
All the changes are effective immediately and are part of wide-ranging reforms notified by SEBI recently.
 

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