'Photos, videos allowed in flight, not recording equipment'
The Directorate General of Civil Aviation (DGCA) on Sunday said that passengers on board a flight can take photos and videos, but cannot use any recording equipment which would create chaos, disrupt flight operations and violate safety norms.
 
The clarification comes after the aviation regulator earlier said that a scheduled flight will be suspended for a period of two weeks if anyone is found taking photographs inside the plane.
 
"It is clarified that a bonafide passenger travelling in an aircraft engaged in scheduled air transport services may do still and video photography from inside such an aircraft which in flight, take-off and landing. However, this permission does not include use of any recording equipment which imperils or compromises air safety; violates prevalent norms, creates chaos or disruption during operation of light or expressly prohibited by crew," said the DGCA circular on Sunday.
 
It said that action may be initiated against those persons found in violation of the guidelines.
 
The directives come in the wake of the incident onboard a Chandigarh-Mumbai IndiGo flight on September 9.
 
On Friday, the DGCA had directed IndiGo to take action against the passengers responsible for unruly behaviour and protocol violations on the flight with Bollywood actress Kangana Ranaut onboard.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
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    SEBI Provides Options to Mutual Funds Apart from Re-balancing Portfolio
    Markets regulator, the Securities and Exchange Board of India (SEBI) on Sunday clarified that mutual funds (MFs) have many options to meet requirements of the circular on asset allocation of multi-cap funds, based on the preference of their unit-holders.
     
    In a clarification issued on Sunday, the SEBI said apart from re-balancing their portfolio in the multi-cap schemes, MFs could facilitate switch to other schemes by unit-holders, merge their multi-cap scheme with their large-cap scheme or convert their multi-cap scheme to another scheme category, for instance, large-cum-mid-cap scheme.
     
    Kotak Mutual Fund has welcomed the SEBI clarification.
     
    Nilesh Shah, managing director, Kotak Asset Management Company (AMC), said in a tweet: "Immense gratitude to SEBI for issuing clarification on a Sunday evening. We will ensure compliance with SEBI Regulations in letter as well as spirit & optimize risk adjusted return for our Investors. Don't take Investment decisions in haste."
     
    SEBI said it is conscious of market stability and, therefore, has given time to MFs till 31 January 2021 to achieve compliance with the circular, through their preferred route, of which re-balancing of the portfolio is only one  route.
     
    "It is reiterated that to achieve the desired objective of True to Label and Appropriate Benchmarking, the SEBI will examine proposals of the industry, if any, received in this regard," it said.
     
    SEBI has issued a circular dated 11th September, on multi-cap schemes of mutual funds, requiring them to invest a minimum of 25% each in large, mid and small-cap stocks, with the balance 25% giving flexibility to the fund manager.
     
    The regulator said the circular was issued as a need was felt to review the scheme characteristics of multi-cap schemes and take necessary steps to clearly distinguish these from other category of schemes.
     
    Multi-cap schemes had flexibility in terms of allocation to large, mid and small-cap stocks. "However, it has recently been observed that some multi-cap schemes have skewed portfolios, with over 80% of investment in large-cap stocks akin to large-cap schemes, and some multi-cap schemes have near zero or insignificant asset allocation to small-cap companies," it said.
     
    As per the SEBI circular, it was anticipated that there could be a large inflow of funds into small-cap stocks to meet the requirement of minimum 25% asset allocation.
     
    Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
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    SEBI tweaks MF norms, Rs35K cr to move out of large caps to mid and small caps
    To diversify the investments of Multi Cap mutual fund schemes, markets regulator Securities and Exchange Board of India (Sebi) has prescribed that a minimum of 25% each be invested in large, mid and small cap companies.
     
    The minimum investment in equity and equity related instruments will be divided in 75% of total assets. Minimum investment in equity and equity related instruments of large cap companies will be 25% of total assets. Similary, for mid cap and small cap companies, 25% each of total assets will be allocated.
     
    All MFs have to ensure compliance by the first week of February 2021. AMFI will publish the next list of stocks according to market capitalisation criteria in January first week and the compliance has to be within one month of that.
     
    Market expert Madhusudan Kela said in a tweet, "This is a FANTASTIC move from SEBI and a truly defining moment for the Multi Cap category funds. It will immensely help broad base the current MF holdings and give due recognition to lot of deserving small/mid cap companies."
     
    "In a fast growing country like India, this will help smaller size companies to tap equity markets for growth funding. Lot of small companies are trading at extremely cheap valuations compared to their true potential," Kela said.
     
    "Finally, this will bring enormous benefits to lot of small investors who have invested in smaller sized companies and holding for long period in anticipation of true price discovery," he added.
     
    The move is expected to be help small investors and small companies to get better valuations.
     
    Reacting to the Sebi move, Joseph Thomas, Head of Research, Emkay Wealth Management, said, "At present, the multi cap funds have almost 70% of their allocation to large cap stocks and the balance to mid cap and small cap stocks. The new regulation will make it mandatory that any market cap may have a minimum allocation of 25%, and therefore, to the extent of the excess allocation to large cap mutual funds will have to reduce the allocation, that is, 20%, and move into mid caps and small caps.
     
    "An amount equivalent to Rs35,000 crore will move out of large caps and will move into mid and small caps. This move will help mid cap and small cap stocks to move up on the light of their share going up in terms of allocation."
     
    Currently, as of August-end, the multi cap funds have assets under management of Rs1.46 lakh crore. Experts say that these funds will have to be moved out from large cap stocks where currently the fund holdings are concentrated. It is expected that anywhere between Rs25,000 crore and Rs35,000 crore can flow into mid cap and small cap companies.
     
    Most of the multi cap funds are more than 70%-80% concentrated into large cap stocks.
     
    Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
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    COMMENTS

    ganesanjaicare

    2 weeks ago

    another way to buy and cheat in this overvalued market.front running and manipulation and insider trading going to happen in small and midcap shares.

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