New Delhi: A mechanism to provide for speedy resolution of matters relating to disputes in institutions of higher education was cleared by the Union Cabinet today, reports PTI.
A meeting of the Cabinet chaired by prime minister Manmohan Singh gave its nod to the Educational Tribunals Bill 2010, which seeks to set up a two-tier structure of educational tribunals at the national and state level to adjudicate on the entire gamut of disputes that arise in the higher education system, sources said.
The tribunals will act as forums for fast-track and speedy resolution of issues in institutions in order to build an effective system of checks and balances in higher education.
The state tribunals will adjudicate matters concerning teachers, employees and students of institutions in the respective states.
The national tribunal would deal with all matters concerning regulatory bodies in higher education and also matters involving institutes located in two or more states.
The Bill also provides for imprisonment up to three years or fine of Rs10 lakh or with both to those who fail to comply with the orders of the state or the national educational tribunals.
The Bill, introduced in the Lok Sabha earlier, was referred to the concerned Parliamentary Standing Committee for its scrutiny.
Sources said that the Bill is likely to be considered and passed in this session.
The passage of this Bill was important to take up other educational reforms Bills like Prohibition of Unfair Practices in Technical, Medical Educational Institutions and Universities Bill, 2010 and National Accreditation Authority Bill.
Deutsche MF launches DWS Hybrid Fixed Term Fund-Series 1; L&T Mutual Fund introduces new fixed maturity plan; DSP BlackRock MF unveils DSP BlackRock FMP-3M-Series 19; HSBC Mutual Fund revises exit load structure under two schemes; Birla Sun Life MF declares dividend under two schemes; ICICI Prudential Life launches iProtect
Deutsche MF launches DWS Hybrid Fixed Term Fund-Series 1
Deutsche Mutual Fund has launched a new fund called DWS Hybrid Fixed Term Fund-Series 1. The fund is a close-ended income scheme. The new issue opens on 23 August 2010 and closes on 6 September 2010. The new fund offer (NFO) price for the scheme is Rs10 per unit. The minimum subscription amount for the scheme is Rs5,000. The entry and exit load for the scheme is nil. The investment objective of the scheme is to generate income by investing in high quality fixed income securities maturing on or before the date of the maturity of the scheme. The scheme also aims to generate capital appreciation by investing in equity and equity related instruments.
L&T Mutual Fund introduces new fixed maturity plan
L&T Mutual Fund has introduced a new fund called L&T FMP- I (August125D A). The fund is a closed ended income scheme having a tenor of 125 days. The new issue opens for subscription on 23 August 2010 and closes on 25 August 2010. The new fund offer (NFO) price for the scheme is Rs10 per unit. The duration of the scheme is 125 days. The scheme offers two options-growth and dividend (payout) option. The minimum application amount is Rs5,000 and in multiples of Re1 thereafter. The fund seeks to collect a minimum target amount of Rs1 crore under the scheme during the NFO period. Entry and exit load charge will be nil for the scheme. The investment objective of the scheme is to achieve growth of capital by making investments in debt/fixed income securities maturing on or before the maturity of the scheme.
DSP BlackRock MF unveils DSP BlackRock FMP-3M-Series 19
DSP BlackRock Mutual Fund has unveiled DSP BlackRock FMP-3M-Series 19. The fund is a close ended income fund. The new issue opened for subscription on 20 August 2010 and will close on 25 August 2010. The new fund offer (NFO) price for the scheme is Rs10 per unit. The minimum subscription amount for the scheme is Rs10,000 and in multiples of Rs10 thereafter. The investment objective of the schemes is to seek capital appreciation by investing in debt and money market securities maturing on or before the date of maturity of the schemes.
HSBC Mutual Fund revises exit load structure under two schemes
HSBC Mutual Fund has revised the exit load structure under its two schemes-HSBC Ultra Short Term Bond Fund and HSBC Income Fund-Short Term Plan. As per the revision, HSBC Ultra Short Term Bond Fund will charge 0.25%, if the investment is redeemed within 15 days from the date of allotment of units. HSBC Income Fund-Short Term Plan will charge 0.25%, if the investment is redeemed within three months from the date of allotment of units. The revision is effective from 23 August 2010. Both schemes are benchmarked against CRISIL Short Term Bond Fund Index.
Birla Sun Life MF declares dividend under two schemes
Birla Sun Life Mutual Fund has announced dividend under its two schemes namely Birla Sun Life MNC Fund and Birla Sun Life India Opportunities Fund. The quantum of dividend decided for Birla Sun Life MNC Fund is Rs5.25 per unit and for Birla Sun Life India Opportunities Fund is Rs1.25 per unit on the face value of Rs10 per unit. The record date decided for distribution of dividend for the schemes is 27 August 2010. Both the schemes are open ended equity schemes.
ICICI Prudential Life launches iProtect
ICICI Prudential Life Insurance Company Ltd has launched iProtect-an online term insurance plan. An individual can apply online for iProtect and the payment can be made either through his/her Internet banking account or credit card. The life cover commences as soon as the premium is paid. Upto a certain limit, the life cover can be bought immediately without the need for any medical tests. Above this limit also, the entire transaction can be finished online but the cover will start post a medical test. The policy can be bought online as no physical documentation is required. iProtect provides financial security to the family of the policy holder in the event of his untimely death. In case of such an eventuality, the nominee will receive the entire sum assured. The entry age for a customer is a minimum of 20 years and a maximum of 65 years with a minimum policy term of 10 years and a maximum of 30 years. The maximum age at policy expiry is 75 years.
New Delhi: Portraying a strong rebound in their deal-making confidence, emerging markets led by India saw a 25% rise in merger and acquisitions (M&A) deals targeted towards developed markets in the past six months, reports PTI quoting a study by global consultancy KPMG.
According to the latest Emerging Markets International Acquisition Tracker (EMIAT) report, 243 Emerging-to-Developed (E2D) deals were recorded in the first half of 2010, compared to 194 in the second half of 2009.
"The 25% increase in E2D deals was in no small part due to a resurgent India. After three relatively quiet six month periods, India recorded 50 deals — well up on the 21 of the previous six months," the report stated.
China was also up by nine deals to 39, while South East Asia jumped from 34 to 47 deals.
Although there has been a rise in emerging to developed market deals in the past six months, the number of deals from western markets targeting developing market firms' remains higher.
The report revealed that 748 Developed-to-Emerging (D2E) deals have been witnessed in the past six months showing a 9% increase over the previous six-month period.
"The findings suggest that deal-making confidence is returning far quicker in emerging economies than in developed market. In absolute terms, E2D deals still only equal to 32% of D2E deals in the past six months, but it is apparent that they have worked through their financial crisis hangover far quicker," KPMG chairman high growth markets practice in the UK, Ian Gomes, said.
"By contrast, I sense a degree of reticence amongst many of the developed economy trade buyers to get back on the M&A trail before all the nagging doubts over double-dip recessions and sovereign debt fall-outs have fully receded," Mr Gomes added.
The research analysed deal flows between 13 emerging economies, including India, China, Brazil, Russia, South Africa, Central & Eastern Europe and 15 developed economies such as US, UK, Canada, Spain, France, Japan among others.
Interestingly, an average of 202 Emerging-to-Emerging (E2E) cross-border deals per year have been witnessed since the start of 2003.
This represents 1,518 deals struck in 7.5 years driven by growing stature of emerging economy trade buyers.
On the E2E front, analysis of the numbers going back to 2003 reveals that South East Asia has been the most popular destination, registering 302 inbound deals.
China was the next most popular market with 197 deals, while India registered 167 deals.