DSP BlackRock MF unveils 3 months fixed maturity plan

DSP BlackRock MF new issue closes on 19th October

DSP BlackRock Mutual Fund has launched DSP BlackRock FMP-Series 17-3M, a close-ended income scheme.

The investment objective of the scheme is to generate returns and capital appreciation by investing in a portfolio of debt and money market securities. The scheme will invest only in such securities which mature on or before the date of maturity of the scheme. The tenure of the scheme is three months.

The new issue closes on 19th October. The minimum investment amount is Rs5,000.

CRISIL Liquid Fund Index is the benchmark index. Dhawal Dalal is the fund manager.


EC to crack down on black money use in forthcoming polls

The Election Commission has put in place stronger measures to monitor illegal cash movement and funds during polls, after learning from the experiences of last year’s Assembly polls in Bihar and a few other states like Tamil Nadu and West Bengal recently

New Delhi: The Election Commission (EC) will crack down heavily on use of black money during the upcoming Assembly polls in five states and has put in place stronger measures to monitor illegal cash movement, Chief Election Commissioner (CEC) SY Quraishi said here yesterday, reports PTI.

“The EC will come down heavily against black money during the forthcoming polls,” Mr Quraishi said after inaugurating a day-long workshop for political parties on election expenditure monitoring here on Monday.

He said the EC has put in place stronger measures to monitor illegal cash movement and funds during polls after learning from the experiences of last year’s Assembly polls in Bihar and a few other states like Tamil Nadu and West Bengal recently.

The CEC said that political parties should educate their cadres at all levels regarding the guidelines framed by the EC in this regard so that violations are “minimised”.

A total of 58 representatives of both national and state-level political parties from Uttar Pradesh, Punjab, Uttarakhand, Goa and Manipur participated in the workshop.

The CEC said that political parties should exercise self-restraint on election expenditure and strictly adhere to the new set of instructions issued by the EC in this regard recently.

Mr Quraishi, who was accompanied by two other Election Commissioners VS Sampath and HS Brahma, said during the all-party meeting held at its headquarters in October last year, that party leaders had themselves asked the Commission to check use of excess money and the menace of paid news in elections.




6 years ago

The recent local bodies election as well as assembly elections of Tamilnadu was really conducted in a very commenadable way that even the defeated politicians had no ground to complain against the EC. Unlike CBI which gives enough advance information to the culprits before the raids, EC could still improve their performance if they could start their vigilance on money movement well ahead of any impending election in a given area. Sealing the borders with strict checks as well as vehicular checks including the public transport would yeild good results as it did inTamilnadu recently.

RTI amendment: Private Bill seeks changes in Act to dilute the legislation; wants applicants to give reasons for seeking information

Politicians across party lines are facing the heat from social activists, so they want certain provisions of the RTI Act to be toned down. But activists cry foul; consider any amendment to the RTI Act as ‘dangerous and regressive’

While the Prime Minister’s statement about RTI (Right to Information) “interfering with governance” has made headlines, the introduction of a Private Bill to amend the RTI Act has gone unnoticed. The proposal has been made by Bhausaheb Wakchaure, Shiv Sena Member of Parliament (MP) from Shirdi, Maharashtra.

The draft Bill says that an RTI applicant has to give reasons for seeking information, which was not there in the original Act. Moreover, the Bill also says that a public information officer (PIO) may reject an application, and refuse to disclose information of ‘personal nature’, unless he is satisfied that it is for larger public interest.

Activists have slammed the draft Bill as ‘regressive.’ Some activists have decided to write to the Prime Minister to register their protest. Activist Krishnaraj Rao, in a letter, says, “The draft Bill seeks to nullify the biggest protection that the RTI Act gives to citizens, namely, Section 6(2), which categorically states that an applicant making request for information shall not be required to give any reason. The proposed amendment seeks to shift the focus to the identity and motives of the RTI applicant. This shift of focus is perverse and mala fide. Such an amendment will encourage corrupt officers to hound the RTI applicants and deny information to them.”

Mr Rao said that instead of seeking to dilute the Act, the government should work towards proactive disclosures and ensure safety for activists. In 2009, a government appointed PricewaterhouseCoopers committee had submitted its report on implementation of the RTI Act—pointing out the shortcomings of the government and offering suggestions for overcoming them. However, the recommendations, which included setting up of facilitation centres in rural areas, conducting awareness campaigns and maintaining records—have not been implemented.

In the seminars on the RTI Act conducted by Moneylife Foundation, Wajahat Habibullah, former chief information commissioner and Shailesh Gandhi, central information commissioner, have said that the Act does not need any amendment. “The Act is pretty powerful, and amendments will only dilute it,” Mr Gandhi had said.

The government had talked about amendment several times earlier, but had to backtrack following severe criticism. After the 2G scam caused considerable embarrassment, many ministers, including the Prime Minister, have said that RTI is ‘taxing’ the time and resources of the public authorities, and is interfering with governance.

Renowned activist and National Campaign for Peoples’ Right to Information (NCPRI) spokesperson Aruna Roy slammed the statement; saying that the government should be more concerned with the killing of RTI activists and take action against corruption that is being exposed by the Act.

RTI is today faced with many hurdles. Recently, the Supreme Court Registry locked horns with the Chief Information Commission (CIC) over maintaining records and disclosing information. Shortly before that, taking note of the increasing number of attacks on RTI activists, the CIC issued an order that authorities make public the information which may have been the reason for the attack.



Vijaykumar B Borkar

5 years ago

What else can we expect from MP Shri. Bhausaheb Waghchaure, a beaurocrat turned politician, because he himself is totally well versed about the day to day activities that is called 'Government Machinery.' His move to dilute the RTI Act must be strongly defended by all the persons who love India.


6 years ago

CNN IBN report:

After the recent embarrassing RTI revelations, the government has now decided to frame new guidelines.

All the RTI replies prepared by junior officers will now have to be vetted by a senior officer, preferably of the Joint Secretary rank.

Among the changes considered, sources say that the RTI replies will have to be brief and should not reveal much.

In order to contain embarrassment for the government, sensitive file notings should first go through the concerned Ministry before being revealed.



In Reply to Govindan 6 years ago

Dilution of the powers of a Public Authority is Illegal

How can the Government issue such guidelines? It is the Public Authority concerned to give reply to the RTI applicants. It is his responsibility to give clear and proper answer to the applicants. His duties have been well defined in the Act.

Any dilution of the powers of Public authority is illegal unless an amendment to the act is passed by the parliament.

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