Latest news with #CAMS
The Hindu
19 hours ago
- General
- The Hindu
Analysing Internet access and digital skills in India
One important target of the Sustainable Development Goals (SDGs) is to ensure inclusive and equitable quality education. Within this broad goal, there are two important targets pertaining to Internet and digital skills. Target 4.4.1 talks about the share of youth and adult population who have some Information and Communications Technology (ICT) skill. Target 4.4.2 pertains to a degree of proficiency in digital skills. Therefore, to attain the SDG4 target of education, providing ICT infrastructure and assessing digital skills is important. The data to assess these skills were rather sparse until the National Sample Survey Office (NSSO) conducted the Comprehensive Annual Modular Survey (CAMS) between July 2022 and June 2023. This is arguably the first sample survey which asks a set of questions about people's access to, and use of, digital technology. The survey was conducted across India in 3.02 lakh households and with 12.99 lakh people. At the all-India level, 76.3% of households have broadband Internet facilities. In rural areas, 71.2% of households have the facility, while in urban areas, 86.5% do. This data shows the deep penetration of the Internet in India. But there are variations across States, castes, gender, and class. In some States, more than 90% of the households have a broadband connection. These include Delhi, Goa, Mizoram, Manipur, Sikkim, Haryana, and Himachal Pradesh. But in some other States, fewer than 70% have a broadband connection. These include West Bengal (69.3%), Andhra Pradesh (66.5%), Odisha (65.3%), and Arunachal Pradesh (60.2%). There are also significant variation within caste groups on the issue of broadband connectivity at home. In households in the general category, 84.1% have broadband connection, while the numbers for Other Backward Classes (OBCs), Scheduled Castes (SCs), and Scheduled Tribes (STs) are 77.5%, 69.1%, and 64.8% respectively. While it is significant that within all social groups, the majority of the households have broadband connectivity, OBC, SC, and ST communities are still significantly behind households in the general category in this aspect. The most striking difference predictably exists in terms of income. Generally, the monthly per capita consumption expenditure (MPCE) is used as a proxy for income, since income data at the household level is not available. From the unit-level data of CAMS, we have arranged the population from the bottom 10% to the top 10% in terms of MPCE (Chart 1). Chart 1 | The chart shows the broadband connectivity of households according to the decile classes of Monthly Per Capita Expenditure (in %) While in the lowest decile class, 71.6% households don't have broadband connectivity, the number for the highest decile class is only 1.9%. However, even for those who belong to the second lowest decile class, the majority (56.2%) have broadband connection at home. In other words, while the poorest are still on the wrong side of the digital divide, broadband connectivity improves with every decile class. Economic status is a significant determinant of broadband connectivity. The government has said that provision of high-speed Internet is a fundamental utility akin to water or electricity (Digital India website). To facilitate coverage of the poorest sections of the society, the government can think of subsidising broadband connections so that there is universal coverage. According to the CAMS report, 94.2% of rural households and 97.1% of urban households have mobile or telephone connections in their households. When we look at people aged 15 years and above, 92.4% in urban areas and 83.9% in rural areas can use mobile phones. However, a deeper look at the data shows that the use of mobile phones is not as universal as the headline numbers suggest. Table 2 shows the share of the population who use a mobile phone with an active SIM card exclusively, for making calls or accessing the Internet. The data shows that women and socially deprived sections are at a disadvantage. For example, within the general category, only 25.3% of women use mobile phones exclusively in rural areas, while the number for urban areas is 51.2%. For SCs, STs, and OBCs, the numbers are far below the general category for both men and women. While there is a lot of discussion about 5G connectivity in India, data show that just more than half the population in rural areas uses 4G, while more than 70% in urban areas use the same. A significant share of the population (40.4%) still uses mobile technology which is more primitive than 4G. The share of people with 5G connectivity is negligible in the country. To gauge digital skills, we focused on some basic tasks such as using the Internet, sending emails, copy-pasting from documents, using arithmetic operations in spreadsheets, and performing online banking transactions (Chart 3). Chart 3 | Select digital skills of the rural and urban populations of India (15 years and above) (in %) Around 53.6% of the population (15 years and above) can use the Internet in rural areas and 74% in urban areas. The proportion who can send/receive emails is even lower (20% for rural, 40% for urban). Only around 40% of the rural population can perform the copy-paste function, while 60% of the urban population can. The share of people who can perform arithmetic operations in spreadsheets is extremely low. Only 37.8% of India's population aged 15 years and above can perform online banking transactions. Subhanil Chowdhury is an Associate Professor of Economics at St. Xavier's University, Kolkata, and Samiran Sengupta is a data analyst
The Print
2 days ago
- Business
- The Print
More salaried than self-employed Indians earning less than Rs 25k a month face borrower stress—study
The study analysed 20,000 borrowers for over a year to determine their credit scores, using AI, machine learning, and data science techniques on the Algo360 platform. With both data science and Artificial Intelligence, is a firm that helps banks and financial institutions make credit decisions. It is a subsidiary of Computer Age Management Services (CAMS) that works as a mutual fund transfer agency. New Delhi: Over 70 percent of the self-employed earning less than Rs 25,000 a month in India are witnessing acute financial strain in servicing the multiple small loans they have been taking, according to a study conducted by . The study has revealed that though both the salaried and the self-employed—earning less than Rs 25,000/month—faced financial strain, the share of the salaried missing to pay at least one of the equated monthly instalments (EMI) on loans was 76 percent, a higher share than the 64 percent of the self-employed who missed at least one EMI payment. ThePrint contacted Mr. Amit Das, the CEO, who said, 'Credit stress across India is uneven: low-income borrowers, often managing multiple small loans, driven by multiple life priorities, face the highest risks and defaults, whereas those earning steadily above Rs 25,000 a month enjoy steadier finances and lower defaults.' Das further said, 'Smaller towns and semi-urban areas in Bharat have lower financial literacy and higher reliance on informal lenders, whereas large city centres have easier and broader access to formal credit.' The study cited a macroeconomic headwind, which can be due to ongoing global conflicts and prevailing uncertainties over tariffs, most impacts those servicing multiple loans at low income or salary levels. 'On average, salaried borrowers hold three active loan accounts, while self-employed individuals manage four, with a higher tilt towards informal and collateralised credit products,' the study has explained. Perfios and PWC India published a report, How India Spends: A Deep Dive into Consumer Spending Behaviour, earlier this year, showing that salaried individuals across city tiers allocate over a third of their monthly income towards EMI. This finding reflects a high level of reliance on loans by salaried individuals—a trend that increases the risk for lenders. The study has recommended moving beyond the traditional credit scores, which, in underserved segments, can not determine the financial situation, for the timely assessment of the risks. It also emphasised a behaviour-driven underwriting framework to give more inclusive and accurate credit assessments for individuals whose incomes are irregular and fall outside the formal credit systems. Using and analysing alternative data, including spending patterns, transaction volume, and repayment trends, can help to create more accurate borrower profiles, which are open to risk-based segmentation, the study has asserted. According to Das, 'lenders, especially, tech-driven lenders, are responding with enhanced credit assessment, nuanced risk-based pricing, continuous risk monitoring, financial education, flexible repayment options, and alternative data partnerships, thereby building a more resilient and inclusive financial ecosystem'. (Edited by Madhurita Goswami) Also Read: Don't count countries above India in per capita GDP. Look at the population instead
Mint
3 days ago
- Business
- Mint
Now, you can transfer mutual fund units held outside demat to others. Here's how
In a major shift for mutual fund investors, units held in Statement of Account (SoA) form — that is, outside of demat accounts — can now be transferred to relatives or even third parties entirely online. This long-standing restriction has been eased with new features rolled out by mutual fund registrar and transfer agencies (RTAs), opening up new flexibility for investors looking to gift or restructure their holdings. Until recently, mutual fund units could only be transferred between parties if held in dematerialized (demat) form. But with the latest changes, unitholders in non-demat form can carry out transfers directly via RTA websites like CAMS and KFintech. Read this | Invest in mutual funds for your children? Here's what to do when they turn 18. The changes are being rolled out in phases. In phase 1, which went live on 14 November 2024, three key features were enabled: Surviving joint holders can now add new joint holders to a folio after the death of a co-holder. Nominees can transfer units to legal heirs upon the demise of the unitholder. When a minor turns 18, they can add parents, guardians, or siblings as joint holders to their account. In phase 2, which began on 19 May 2025, the system allows full-fledged transfer of units to relatives and third parties, and enables adding or deleting joint holders — all through a few simple online steps. 'By allowing spouses to be added as joint holders, the transmission in the event of death becomes easier. A joint holder is essentially inheriting in its own right and not as a trustee of the eventual heir. In a way, a joint holder is a shared heir rather than a nominee, who is required to transfer the amount to the legal heir," said Harsh Roongta, a registered investment advisor (RIA) and founder of Fee Only Investment Advisers. 'Allowing such additions will reduce the burden during hard times." How does the online transfer work? Investors must first visit the MF Central website and select the asset management company (AMC) whose units they wish to transfer. Once the AMC is chosen, MF Central automatically redirects the user to the respective registrar and transfer agent (RTA) platform — CAMS or KFintech — depending on which agency services that AMC. Alternatively, investors can log in directly via the relevant RTA website. The transferor, who must be an individual (minors are excluded), needs to enter their PAN, folio number, email address, and mobile number, and specify whether the transfer is to a relative, a third party, or intended as a gift. This choice is critical, as it determines the subsequent tax treatment. (More on that shortly.) Both the transferor and transferee must have 'KYC validated' status. Those who completed KYC using Aadhaar typically have validated status already. Following OTP verification on both email and mobile for the transferor, they select the mutual fund units and quantity they wish to transfer. The RTA will automatically verify that the units are free of any lock-ins, freezes, or liens before proceeding. Next, the transferee's details are entered, including their folio number. 'If the balance units in the transferor's folio falls below specified threshold / minimum number of units as specified in the Scheme Information Document (SID) of the respective MF scheme, such residual units shall be compulsorily redeemed, and the redemption amount will be paid to the transferor," stated Amfi (Association of Mutual Funds in India) on its website. Importantly, the transferee must have an active folio with the same AMC. For example, if Mr. A wants to transfer HDFC Mid Cap Opportunities to Mr. B, Mr. B must first open a folio with HDFC AMC. To facilitate this, Amfi instructed AMCs via a letter dated 14 August 2024, to enable zero-balance folios so recipients without existing folios can still receive transferred units. Read this | Mutual fund mis-selling: What the first public disclosures reveal Once both parties complete OTP verification, the transfer request is initiated. According to Amfi, the transaction should be reflected within two working days. To safeguard against fraud, the transferred units are locked from redemption for 10 days. Units are transferred on a first-in, first-out (FIFO) basis, meaning the oldest units are transferred first. Tax implications: Transfer vs gift Crucially, unitholders must carefully select whether they classify the transaction as a transfer or a gift, as tax treatment differs significantly. 'While transferor can choose any of the option while transferring units, considering the tax implications that vary with each scenario viz., gifting of units/transfer to third parties/transfer to legal heir etc, transferor/transferee is advised to consult with their tax consultant before initiating the transfer," said ES Varadarajan, Chief Risk & Process Officer, CAMS. According to Prakash Hegde, a Bangalore-based chartered accountant, when a transaction is classified as a transfer, tax authorities treat it as being done for consideration, triggering capital gains tax for the transferor. 'The sale consideration minus cost of acquisition is considered as capital gains. The transferor needs to pay applicable tax on the gains," he explained. The latest available NAV is used for calculating stamp duty. For instance, if Mr. A initiates a transfer at 4 pm on Wednesday, Tuesday's closing NAV will be used to compute the consideration value and the applicable stamp duty (@0.015%) payable by the transferor, since Wednesday's NAV will only be published late at night (typically around 11 pm). However, for capital gains purposes, the applicable NAV will be based on the actual settlement date of the transfer, treated as a redemption for the transferor and a purchase for the transferee. In contrast, if the transaction is classified as a gift, the transferor is exempt from capital gains tax since no consideration is received. However, if the recipient is a non-relative and the value exceeds ₹50,000, the recipient must pay tax on the entire gift amount, as income from other sources, at their applicable slab rate. 'For instance, if the gift is worth ₹75,000, tax will apply to the entire amount based on the recipient's slab rate," Hegde noted. The NAV at the time of transfer is used to calculate the value of the gift. Separately, a stamp duty of 0.005% applies to all transfers (whether to relatives or others), but gifts are exempt from stamp duty, Varadarajan of CAMS clarified. What should investors keep in mind? Abhishek Kumar, RIA and founder of Sahaj Money, advised investors to factor in the mandatory 10-day lock-in following a transfer before units can be redeemed. "They should plan liquidity needs accordingly so they are not caught off guard," Kumar said. Also read | The ONDC mutual fund pipeline has arrived. Will it take over the industry? He also cautioned that the eventual cost of acquisition for the recipient depends on whether the transaction was treated as a transfer or gift — a key factor that will affect future capital gains tax when the units are eventually sold. Moreover, only units free of lien, lock-in, or freeze are eligible for transfer, Kumar emphasized.
Mint
4 days ago
- Business
- Mint
Shares to buy or sell: Sachin Gupta of 5paisa recommends CAMS, Oberoi Realty shares today
Stock market today: Indian stock markets began on a favourable note on Tuesday, maintaining the upward trend from the earlier session. Nevertheless, increasing geopolitical tensions in the Middle East are making investors globally anxious. The Nifty 50 index started at 24,977.85, rising by 31 points or 0.13%, while the BSE Sensex opened higher by 79 points at 81,869.47, reflecting a gain of 0.10% in initial trading. Analysts noted that while the market's momentum is positive, escalating tensions between the US and Iran could pose a significant concern. Sachin Gupta at 5paisa recommends two stocks on Tuesday — Computer Age Management Services Ltd (CAMS), and Oberoi Realty Ltd. The Nifty 50 index surged 227.9 points to close at 24,946.5, up 0.92%, as broad-based buying lifted the benchmark to a new high. The market sentiment remained overwhelmingly positive, with 44 of the 50 constituents ending in the green. The index has bounced back strongly on broad-based buying. All the sectoral indices were positive. It has breached both the near term and medium term trend lines. This suggests fresh support from the 20Days EMA. Nifty 50 has been in the 24,500 to 25,000 rectangle pattern for more than a month. Even after the recent breach of 25,000, it could not sustain the strength. As such, breaching these levels convincingly remains a key for near term outlook. Near term support and resistance are at 24,770/24,660 and 25,123/25,233. On shares to buy on Tuesday, Sachin Gupta recommends two stocks on Tuesday — Computer Age Management Services Ltd (CAMS), and Oberoi Realty Ltd. CAMS share price has recently rebounded from its 200-day Exponential Moving Average (EMA), a key long-term support level that often attracts fresh buying interest. This bounce also coincides with the 38.2% Fibonacci retracement level, suggesting that the recent pullback was a healthy correction within a broader uptrend. Furthermore, the price has moved above the middle Bollinger Band, indicating a shift in short-term momentum toward the upside. Based on these technical factors, CAMS appears well- positioned for further gains in the near term. Traders are advised to look for buying opportunities in CAMS around the ₹ 4,100–4,120 range, targeting 4,270 and 4,380 levels. A stop loss is recommended at ₹ 3,935 on a closing basis to manage risk effectively. On the weekly chart, Oberoi Realty share price has been hovering above the 50% retracement level, which continues to act as a strong immediate support area. On the daily chart, the price structure remains healthy, characterized by a series of higher tops and higher bottoms — a classic indication of an ongoing uptrend. Additionally, the stock recently took support at a rising trendline, further reinforcing the strength of its current bullish trajectory. This rebound is also backed by increasing volumes on the daily chart, highlighting renewed buying interest and accumulation at lower levels. Based on this technical structure, we anticipate continued bullish momentum in Oberoi Realty in the short term. On the downside, key support is seen around 1,830, while resistance is placed at 2,050 and 2,100 levels. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Yahoo
13-06-2025
- Health
- Yahoo
Keymed Biosciences Announces the Latest Clinical Trial Results of CM336 Published in the New England Journal of Medicine
CHENGDU, China, June 12, 2025 /PRNewswire/ -- Keymed Biosciences Inc. (HKEX: 02162) today announced that Prof. Jun Shi's research team from the Institute of Hematology and Blood Diseases Hospital, Chinese Academy of Medical Sciences (Institute of Hematology, Chinese Academy of Medical Sciences) has recently published a research report titled "BCMA-Targeted T-Cell Engager for Autoimmune Hemolytic Anemia after CD19 CAR T-Cell Therapy" in the New England Journal of Medicine (NEJM), which has reported for the first time globally the research data on a BCMA x CD3 bispecific antibody treatment for patients with refractory autoimmune hemolytic anemia (AIHA). The study results showed that two patients experienced rapid disease improvement after the administration of CM336, achieving partial remission on days 13 and 19, respectively. Hemoglobin levels returned to normal on days 17 and 21, respectively, while reticulocyte counts, lactate dehydrogenase, and indirect bilirubin levels significantly decreased. Before receiving treatment with CM336, both patients had undergone multiple treatment regimens, including glucocorticoids, splenectomy, anti-CD20 antibodies, BTK inhibitors, and CD19 CAR-T cell therapies, but their disease eventually recurred or progressed to refractory status. The latest assessment results after 6 months post-starting CM336 showed that both patients remained in sustained remission without immunosuppressive therapies or transfusions. No cytokine release syndrome (CRS), immune effector cell-associated neurotoxicity syndrome (ICANS), or infection events occurred during the entire treatment and follow-up period. The overall study showed that CM336 had demonstrated positive efficacy signals in treating patients with relapsed/refractory AIHA who had previously received multiple therapies, with rapid disease control and sustained remission lasting over half a year, while also exhibiting good safety profile, potentially making it an innovative treatment option for development in this disease. About CM336CM336 is a BCMA x CD3 bispecific antibody that can simultaneously target and identify and specifically bind both BCMA on the surface of target cells and the CD3 receptors on the surface of T cells to recruit immune T cells to the vicinity of the target cells, thereby inducing T-cell dependent cellular cytotoxicity (TDCC) to eliminate the target cells. As of the date of this announcement, the Phase II clinical study of CM336 for the treatment of primary light-chain amyloidosis has been approved by the Center for Drug Evaluation of the National Medical Products Administration and will commence clinical trials shortly. About Keymed BiosciencesKeymed Biosciences Inc. (HKEX: 02162) is a biotech company focused on the urgent unmet clinical needs, and committed to providing high-quality, affordable, innovative therapies for patients in China and overseas. Keymed was founded by medical and scientific experts who have strong experience in the transformation of scientific and technological achievements to commercialization at home and abroad. View original content: SOURCE Keymed Biosciences Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
