Best Fund Houses

Our radically new approach ranks 20 fund houses in all important categories of equity schemes. An in-depth analysis by Jason Monteiro. If you are buying equity funds, make sure you have this study on hand

Investors usually select mutual fund schemes based on past performance. If the schemes perform well over six months, one year and three years, there is a greater inflow of money into...

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  • RBI and 926 bank branches to collect advance income tax

    As many as 926 computerised branches of public and private sector banks will accept advance income tax in Mumbai and Navi Mumbai
     

    Mumbai: The Reserve Bank of India (RBI) and 926 branches of public and private banks will accept advance income tax in Mumbai and Navi Mumbai to avoid long queues and inconvenience to the tax assesses, reports PTI.
     

    "As many as 926 computerised branches of public and private sector banks will receive...These arrangements have been made for the convenience of the income tax assesses," RBI said in a statement.
     

    Of the 926 bank branches 862 branches are public bank branches, 35 HDFC bank branches, 10 ICICI bank branches and 19 Axis bank branches.
     

    "The Reserve Bank of India has advised income tax assesses to take advantage of these standing arrangements made for their convenience," the statement said.
     

    RBI has asked the tax assesses to utilise the services being made available at various designated branches of banks, and deposit income tax dues well in advance of the last date.

     

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    Jubilant wins oil exploration block in Myanmar

    Jubilant holds 77.5% participating interest in this block through its subsidiary Jubilant Oil & Gas Pvt Ltd, and will be the operator of the block

    Nay Pyi Taw: London-listed oil explorer Jubilant Energy has won an onland exploration block in Myanmar, the agreement for which was signed on Monday, reports PTI.

    "Jubilant Energy (was) awarded block no. PSC-I under the Myanmar onshore blocks bidding round in 2011," the company said in a release.

    The production sharing contract for the block was signed between Jubilant, Parami Energy Development Co and Myanmar's state-owned Myanma Oil & Gas Enterprise.

    Jubilant holds 77.5% participating interest in this block through its subsidiary Jubilant Oil & Gas Pvt Ltd, and will be the operator of the block.

    The India-focused energy company had bid for two blocks in the auction last year but was awarded one.

    Myanmar awarded 10 onshore oil and gas blocks in its biggest energy tender in years.

    Parami Energy Development Company Ltd holds the remaining 22.5% participating interest in this block.

    The block covers an area of about 3600 sq km and is located about 125 kms north west of Yangon City.

    "Jubilant will utilise its in-house expertise as operator of our Tripura, Manipur and Assam blocks, which are geological and tectonically similar in setup to our newly awarded block," company Chief executive Ajay Khandelwal said describing the Myanmar block as "highly prospective acreage".

    "The Central Burma basin of Myanmar is rich in oil and gas resources with discoveries and production dating back to 1887 and the early 90's," he said.

    Jubilant Energy is part of the New Delhi-based Jubilant Bhartia group that controls drugmaker Jubilant Life Sciences, agrochemicals maker Jubilant Industries and restaurant chain Jubilant FoodWorks.

    Jubilant Energy, which listed in London in November 2010, currently holds a portfolio of nine blocks in India and an exploration block in Australia.

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