Latest news with #DMF
New Indian Express
a day ago
- Business
- New Indian Express
MP Sarangi lays stone for community library and coaching centre for underprivileged students in Bhubaneswar
BHUBANESWAR: In a move to provide quality coaching for competitive exams to meritorious students from economically weaker sections, Bhubaneswar MP Ararajita Sarangi is all set to establish a state-of-the-art community library and free coaching centre near the Khurda collectorate. Touted as the first such initiative in the country, the project aims to support economically disadvantaged students aspiring to crack competitive exams such as those for railways, banking, and other government services, without the burden of expensive private coaching. The MP also announced her plans to impart free coaching to civil services aspirants at the centre. The proposed 1,750 sq ft facility will be constructed at a cost of Rs 53 lakh, with Rs 30 lakh from the MP's local area development fund and the remaining Rs 23 lakh sourced from the 5th state finance commission, MGNREGA, district mineral foundation (DMF) fund and Swachh Bharat Mission. It will be equipped with an air-conditioned training hall, library, reading room, coaching space, modern toilets and a lounge. The project is expected to be completed within a year. Once operational, experienced trainers will offer free coaching to job aspirants. Laying the foundation stone for the library-cum-coaching centre on Wednesday, Sarangi said the initiative stemmed from the observation that many students aspiring to crack competitive exams do not have good books or financial resources to study. As a result, many talents are deprived of getting good jobs. The MP also pledged personal oversight of the initiative. 'I will regularly monitor whether the right books are available, and if the training is effective. I will also teach aspirants whenever I am free,' she said. Sarangi further announced that similar centres will be set up across seven other blocks - Bhubaneswar, Jatni, Balianta, Balipatna, Begunia, Bolagarh and Tangi in her parliamentary constituency at an estimated cost of Rs 4.24 crore. Of this, Rs 2.4 crore will be provided from the MP's fund and the rest from pooled resources. Similarly, construction of libraries/reading rooms has been approved in 69 village panchayats across the constituency, each at a cost of Rs 10 lakh, which will be equally financed from the MP's fund and state government schemes. These libraries will be managed by local youth. Plans are also in place to extend the initiative to all 156 panchayats in the constituency at a total estimated cost of Rs 6.9 crore. Khurda collector Chanchal Rana, who attended the event, said an agreement will be signed with a reputed coaching institution to manage the training programmes.
Time of India
2 days ago
- Business
- Time of India
India moves to benchmark iron ore prices to global index for greater transparency
India has proposed benchmarking the price of domestically produced iron ore to S&P Global Platts , or other such global publication gauges. Currently, the Indian Bureau of Mines (IBM) announces the average sale price (ASP) of iron ore in the country based on self-declarations by mining companies. This is then used to calculate royalty and District Mineral Fund (DMF) disbursals payable to states. Moving away from the self-declaration regime, a Mines Ministry notification said the IBM shall compute the daily price of Iron Ore (60 to below 62 per cent Fe grade) Fines in Indian Rupees based on prices published daily by S&P Global Platts or other reputed publications for iron ore (of the same grade). Self-declared prices by mining companies led to the possibility of understating revenues which also meant a lesser royalty payable to the states. The proposal brings transparency in iron ore pricing, limiting room for mining companies to declare lower prices for higher grades. It also brings uniformity in iron ore prices , as earlier prices would vary across states. States use prices declared by these companies to calculate their revenue, as the law stipulates that mining entities pay 15 per cent of the iron ore sale revenue as royalty to the states. Further, 2 per cent of the royalty is paid as DMF, used to fund development activities in mining-affected areas.
Time of India
2 days ago
- General
- Time of India
Child rights panel registers suo motu case on school roof collapse
Ballari: Karnataka State Commission for Protection of Child Rights (KSCPCR) has registered a suo motu case in the roof collapse that injured a student at Government Higher Primary School in Sirawar village of Ballari taluk on June 17. On a two-day visit to Ballari, the commission members questioned schoolteachers and education department officials, asking for a report. Commission representative Shashidhar Kosambe directed the officials from the education department to take legal measures against school principal, CRP and ECO (education coordinator). The school has 19 rooms, of which 9 are old, and a student sustained a serious head injury when the layer of the roof of a deteriorated room fell. The members expressed displeasure upon discovering that teachers of the school established their office in a well-maintained room while conducting classes in dilapidated spaces. Despite 790 enrolled students, only 400 were attending regularly. They recommended initiating efforts to bring back absent students. Suggestions on education & health During their visit to Ballari, the commission offered recommendations regarding education and health to the district administration. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Pedí tu alarma hoy y llevate Zerovision 100% GRATIS. Alarmas Verisure Ver oferta Undo Commission representatives Kosambe and Dr KT Thippeswamy advised the district administration to utilise the DMF (District Mineral Foundation) Fund effectively for improving govt schools. T he commission suggested utilising KKRDB, DMF, KMERC, and CSR grants for repairing deteriorated rooms, a suggestion which echoed later in a meeting with the district-level officials in the DC office later in the evening. Commission chairman Naganna Gowda, who chaired the meeting, also highlighted concerns about failed students being at risk of child marriage. He instructed education and welfare officials to monitor such cases. Gowda stressed that residential hostels should provide emotional support beyond basic needs, especially for rural students. He emphasised the importance of regular interaction between principals, teachers and students to build trust and address concerns. The commission will submit its findings and recommendations to the govt for improving health and education standards in the district.
Time of India
2 days ago
- Business
- Time of India
India proposes benchmarking domestic iron ore price to S&P Platts index
India has proposed benchmarking the price of domestically produced iron ore to S&P Global Platts or other reputed publications. Currently, the Indian Bureau of Mines (IBM) announces the average sale price (ASP) of iron ore in the country based on self-declarations by mining companies. This ASP is then used to calculate royalty and District Mineral Fund (DMF) disbursals payable to states. Moving away from the self-declaration regime, a notification from the Mines Ministry stated that the IBM shall compute the daily price of iron ore (60% to below 62% Fe grade) fines in Indian Rupees based on prices published daily by S&P Global Platts or other reputed publications for iron ore of the same grade. Self-declared prices by mining companies had allowed the possibility of understating revenues, resulting in lower royalty payments to states. The new proposal aims to bring transparency to iron ore pricing, limiting the scope for mining companies to declare lower prices for higher grades. It also ensures uniformity in iron ore prices , which previously varied across states. States use the declared prices to calculate their revenue, as the law mandates that mining entities pay 15% of their iron ore sale revenue as royalty. Additionally, 2% of the royalty is allocated to the DMF, which is used to fund development activities in mining-affected areas. Live Events
Time of India
30-05-2025
- Business
- Time of India
Ownership of domestic mutual funds in all-listed universe scale record high to over 10% in FY25: NSE Pulse Report
The ownership of domestic mutual funds in the all-listed universe have scaled a record high of 10.4% in FY25, marking the first double-digit reading and outpacing individual investor share for the first time, according to the NSE Pulse Report . Individuals as direct and indirect (via mutual funds) investors today own a record-high of 18.2% of the total market cap, unchanged from the previous quarter (Rs74.5 lakh crore; 5Y/10Y CAGR: +35.7%/16.9%), outpacing the share of FPIs in FY25 for the first time since 2006. Since June 2021, with a strong resurgence in SIP-led inflows, DMF ownership in NSE-listed companies has climbed steadily, reaching all-time highs. Best MF to invest Looking for the best mutual funds to invest? Here are our recommendations. View Details » by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo Also Read | New investors' dilemma: Is flexi cap fund alone sufficient to deploy Rs 10 lakh for meeting goals Passive holdings by DMFs through ETFs and index funds in NSE-listed companies have surged in recent years. The AUM of passive funds grew at a robust CAGR of 59% over the past decade, substantially outpacing the 24% annualized growth of actively managed equity funds, driven by a low starting base and rising retail participation in passive strategies. Live Events In Q4FY25, passive funds' AUM rose 1.9% QoQ to Rs 8.2 lakh crore, recovering from a marginal decline in the previous quarter, but grew by a robust 25.8% in the whole of FY25. In contrast, actively managed equity fund AUM declined 3.4% QoQ to Rs 34.2 lakh crore in the March quarter, though it still posted a healthy 23.6% increase over FY25. As a result, the share of passive funds in total equity-oriented mutual fund AUM climbed 72 bps QoQ to a record high of 20.8% as of March 2025. Of the 10.4% of NSE-listed market capitalization held by DMFs, passive funds' share rose 16 bps QoQ to a new peak of 2.0%—breaking out of the 1.7 -- 1.8% range seen over the past eight quarters. Active fund ownership also increased by 25 bps to a record 8.4%. In terms of free-float market capitalization, passive funds' share rose 30 bps QoQ to an all-time high of 4.0%, while active funds' share increased for the seventh consecutive quarter, up 42 bps to 16.8%. Passive mutual funds AUM, across equity, debt, gold, silver, and others, reached an all-time high of Rs 11.6 lakh crore in April 2025 compared to Rs 11.1 lakh crore in March 2025, registering a strong 21.8% YoY/3.8% MoM expansion. Among passive categories, income/debt-oriented index funds, specifically Target Maturity Index Funds (TMIFs), recorded the highest sequential growth of 9.3%, with AUM rising from Rs 96,025 crore in March 2025 to over Rs 1 lakh crore in April 2025. This was followed by Gold ETF, which registered a 6.2% increase in AUM, primarily driven by mark-to-market gains, more than making up for reduced net investments. After a steady decline over the previous three months, the mutual fund industry's AAUM rose by a strong 22.2% YoY/4.2% MoM to an all-time high of Rs 69.5 lakh crore in April 2025. Strong rebound in equity markets, following the de-escalation of tariff uncertainty in the second half of the month, coupled with continued inflows into mutual funds via the SIP route, were some of the factors that contributed to the increase. In terms of fund flows, mutual funds witnessed a sharp reversal in April 2025, with net inflows turning positive at Rs 2.8 lakh crore, compared to a net outflow of Rs 1.6 lakh crore in March 2025. In terms of scheme composition, the total number of mutual fund schemes declined for the first time in 22 months, edging down from 1,760 in March 2025 to 1,758 in April 2025. Of the total, 1,656 were open-ended schemes, 98 were closed-ended, and 4 were interval schemes. Close-ended schemes exhibited a marginal increase of 1% from 26,459 crore in March 2025 to Rs 26,753 crore in April 2025. Monthly inflows into mutual funds via the SIP route has remained robust, with SIP inflows reaching a record Rs 26,632 crore in April 2025, boosting the SIP AUM to Rs ~14 lakh crore—nearly 20% of the industry's AUM. Also Read | Equity mutual funds offer up to 19% return in May, sectoral & thematic funds take lead In fact, gross SIP inflows have remained strong despite heightened market uncertainty, indicating a steady and disciplined investment approach among investors. Notwithstanding rising inflows, the stoppage ratio—calculated as the number of SIPs discontinued/tenure completed divided by the number of new SIPs registered—surged to a historic 297.8% in April 2025. This is primarily attributed to the reconciliation and derecognition of dormant SIP accounts as part of the initiative taken by the mutual fund industry to comply with SEBI's regulatory norms. Of the total industry AUM, equity funds' AUM increased from Rs 36.7 lakh crore in March 2025 to Rs 38.2 lakh crore in April 2025, registering a 4.1% MoM increase. The debt funds' AUM, on the other hand, increased at a slightly higher pace of 5.2% MoM from Rs 19.3 lakh crore in March 2025 to Rs 20.3 lakh crore in April 2025. This resulted in the share of debt in total mutual fund AUM rising marginally to 29.2% by April-end, even as it remains much below the peak share of 34.2% in Sep'23. This meaningful drop in debt AUM is a result of the combination of robust returns generated by equity markets, continued inflows into equity-focused funds, and tapering flows into debt funds after the removal of the indexation benefit. In contrast, Hybrid and other funds observed a marginal decline in the proportion of total AUM from 13.9% (2.3%) in March 2025 to 13.7% (2.2%) in April 2025. In April 2025, the top five states continued to dominate equity mutual fund AUM, collectively accounting for 59.4% of the total equity AUM, unchanged from the previous month. Despite a broader market recovery, the equity AUM in most states is yet to return to their December 2024 levels, indicating an uneven regional recovery in investor participation. In April 2025, fund mobilisation through new mutual fund schemes fell sharply to Rs 350 crore, down 91.4% MoM in April 2025 from Rs 4,085 crore in March 2025, marking the lowest level in the past 34 months. This was owing to a sharp drop in new scheme launches, with the month gone by seeing just 7 new schemes getting launched vs. 30 in March 2025.
