The Securities and Exchange Board of India has issued additional guidelines for passive mutual fund schemes and modified certain existing norms, which will come into effect from Jul 1. This comes at a time when passive funds are gaining popularity among retail investors.
In order to enhance the liquidity of units of exchange-traded funds on the stock exchanges, the regulator said that any order placed for redemption or subscription directly with a fund house must be more than 250 mln rupees.
Govt calls meeting with NRAI to discuss service charges at eateries
Forced to pay service charges at a restaurant or food outlet of your choice? Are you aware this is entirely optional and voluntary, and insistence on it mandatory violates your right as a consumer? The government has scheduled a meeting on June 2 with the National Restaurant Association of India to discuss the issues pertaining to ‘Service Charges’ levied by restaurants across India.
Oil and Natural Gas Corporation starts trading on Indian Gas Exchange
Oil and Natural Gas Corporation (ONGC) on Monday started trading on the Indian Gas Exchange. With this, ONGC has become the first Exploration and Production (E&P) company in India to trade domestic gas on the Indian Gas Exchange. The first online trade was made on 23 May 2022 by ONGC Director (Onshore) In-charge Marketing Anurag Sharma on India’s first automated national level Gas Exchange, IGX. The gas traded is from ONGC Krishna Godavari 98/2 block, the Ministry of Petroleum & Natural Gas said in a statement.
Adani Green in pact with Andhra for Rs 600 bn green energy units
Adani Green Energy Ltd on Monday signed a memorandum of understanding with the Andhra Pradesh government for setting up a 10,000 MW solar energy project and a 3,700 MW pumped hydroelectric storage plant at an investment of 600 bin rupees, a release from the CM’s Office said. The projects are together expected to generate employment to about 10,000 locals.
1K Kirana raises Rs 195 crore from Alpha Wave, others
Technology start-up 1K Kirana has raised USD 25 million (around Rs 195 crore), in its Series B round led by Alpha Wave Ventures, the company said on Monday. Info Edge Ventures, Kae Capital, and prominent entrepreneurs like the founders of Zetwerk and GoMechanic also invested in the funding round.
Minus Zero raises $1.5 million
funding from angel investors The country’s first self-driving vehicle startup Minus Zero on Monday said it has received USD 1.5-million funding from a group of angel investors, including JITO Angel Network (JAN). Led by Gagandeep Reehal and Gursimran Kalra, Minus Zero is building affordable, fully-autonomous vehicle fleets.