Latest news with #SID
United News of India
2 days ago
- General
- United News of India
INTACH voices concern over low-level flights near heritage sites from BPIA
Bhubaneswar, June 19 (UNI) The Indian National Trust for Art and Cultural Heritage (INTACH) has raised serious concerns over low-altitude flights taking off from the main runway of Biju Patnaik International Airport (BPIA), Bhubaneswar. Anil Dhir, convenor of the INTACH Bhubaneswar Chapter, has written to the Director of BPIA urging amendments to the existing Standard Instrument Departure (SID) chart for the airport's main runway. Dhir has also brought the matter to the attention of the Superintendent Archaeologist of the Archaeological Survey of India (ASI), Bhubaneswar Circle, as well as the Union Culture Secretary. In his letter, Dhir pointed out that many aircraft departing from runway 14/32 at BPIA make a sharp ascending right turn almost immediately after takeoff — sometimes even before the landing gear is fully retracted. This maneuver brings the aircraft alarmingly close to the ancient Lingaraj temple. Based on a two-month study conducted in the Old Town area of Bhubaneswar, where the temple is located, Dhir observed that several aircraft come dangerously close to the temple structure. The temple's main spire stands 180 feet (55 meters) tall, while the aircraft at the point of the turn are often at altitudes of just 1,000 to 1,200 feet. A former trainee pilot, Dhir emphasized that although the current departure pattern adheres to the SID outlined by Bhubaneswar Air Traffic Control, it is avoidable. He suggested that delaying the right turn by merely 10 seconds would ensure aircraft fly well clear of the heritage structure. He warned that low-level flights over such ancient monuments, especially during takeoff when engines operate at full thrust, pose significant risks, including physical damage, intense noise pollution, and structural vibrations that may harm the temple. "The structural integrity of the Lingaraj temple is already in a fragile state," Dhir stated. "Continued exposure to such vibrations could exacerbate existing weaknesses, potentially resulting in cracks, loosening of stone joints, and even partial or complete collapse." Dhir has submitted photographs and video evidence, including recordings taken from within aircraft as a passenger. He identified flights operated by Air India, IndiGo, and Akasa as those flying closest to the temple. In contrast, several other aircraft departing from the same runway maintain a straight climb, avoiding the heritage zone altogether. Flying over ASI-protected monuments is generally prohibited within designated restricted zones. Even drones or other aerial devices are banned near such sites under current regulations. Dhir reminded that the ASI bears the responsibility of protecting these historical structures and that any aerial activity posing potential harm is in violation of these protective mandates. Citing the recent Air India Dreamliner crash at Ahmedabad Airport, Dhir, a heritage expert, urged authorities to treat this issue with utmost seriousness. UNI DP PRS
Mint
13-06-2025
- Business
- Mint
Why that fund of funds may turn out to be costlier than you think
Investors in fund-of-funds (FoF) schemes often do not get a clear picture of what they're really paying. In the absence of a standardized mechanism to report expense ratios, fund houses have their own approach to the calculation. Most FoF schemes report only the expense ratio of the 'wrapper", which is the cost of running the FoF. However, FoFs have other funds as their underlying, which in turn charge an expense ratio. The true expense ratio of an FoF is the wrapper cost plus the weighted expense of the underlying schemes they invest in. Take, for example, the SBI Gold Fund (Direct). Popular mutual fund comparison site Value Research lists its total expense ratio (TER) as 0.1%, the lowest for the gold FoF category. However, the underlying gold ETF that this fund feeds into has an expense ratio of 0.73%, pushing the actual cost to 0.83%, and making it the third most expensive option among 17 gold FoFs. On the same site, DSP MF's Gold FoF shows a TER of 0.65%, which seems to be the highest. However, it adds the cost of the underlying fund that it feeds into while calculating the ratio, making it the cheapest. The data, fetched on 30 April 2025, shows SBI Gold FoF manages ₹3,921 crores, and DSP Gold FoF ₹85 crores. 'Direct investors mostly look at expense ratios while choosing FoFs like gold and silver, as there is no active management involved, and the cost becomes a deciding factor. Lack of standardized reporting mechanism of TER in such funds can be particularly confusing for DIY (do it yourself) investors," said Alekh Yadav, director at Sanctum Wealth Management. Also Read: How are different fund of funds taxed? Grey zone The Securities and Exchange Board of India (Sebi) mandates that the scheme information documents (SID) and advertisements for FoFs must disclose the expenses of the underlying scheme apart from the wrapper cost. However, Sebi does not mandate disclosing the exact expenses of the underlying schemes in periodic factsheets and only mentions that disclosure be given that the underlying scheme expenses are applicable. According to chapter 5.8.1.3 of Sebi's master circular, FoFs need to disclose the underlying scheme's TER in the scheme information documents/key information memorandum (KIM). Experts say common investors hardly know that such documents exist, let alone read them. There is no mention of making it mandatory on the Amfi website and the factsheet, which is commonly used by retail investors. Most AMCs, including HDFC AMC and Kotak AMC, give a disclaimer but do not disclose the TER of the underlying schemes in their factsheet for gold ETF FoF. Fund houses like ICICI Pru disclose the underlying schemes' total expense in the factsheet along with the wrapper cost. 'Current regulations do not require disclosure of the expense ratio of underlying funds in the factsheets, though it is mandatory to disclose it in scheme documents like SID / KIM or KID," said Devang Chawda, senior product manager at DSP Asset Managers. 'In the spirit of full transparency, we voluntarily disclose the total expense ratio, including that of underlying funds, across all investor communications to reflect total cost borne by the investor." Even when the SID discloses the TER of the underlying schemes, it can be hard for retail investors to decode it. SID shows expenses charged by each underlying scheme, and if the FoF has multiple underlying schemes, the investor needs to tally the total expense by doing a weighted average calculation of all schemes. FoF category, like an asset allocator, can have multiple underlying schemes. According to the AMFI website, total TER (including underlying) in respect of FoF investing liquid schemes, index funds & ETFs has been capped at 1%. That of FoF investing in equity-oriented schemes has been capped at 2.25%, and FoFs investing in other schemes than those mentioned above have been capped at 2%. Queries sent to Sebi on Wednesday did not elicit any response, while SBI MF declined to comment on the matter. Also Read: Fund houses suggest these four tweaks to make mutual funds even more sahi How to fix this Currently, most mutual fund comparison platforms show only one TER—usually the wrapper cost—because that's what AMCs report. This leaves investors unaware of the scheme's true cost. Manuj Jain, co-founder of ValueMetrics, said the market regulator should standardise reporting of FoF expense ratios and, in the spirit of full transparency, it can push AMCs to mandate disclosure of the total expense ratio of FoF schemes, as that is the true expense that an investor incurs. Such a rule would also empower third-party comparison sites to fetch and display accurate, complete expense data, helping investors make better-informed decisions. Also Read: Should you diversify your portfolio by adding mutual funds focused on quality strategy?
&w=3840&q=100)
Business Standard
11-06-2025
- Business
- Business Standard
Groww MF launches Nifty India Internet ETF: Here's all you need to know
Groww Nifty India Internet ETF: Groww Mutual Fund has launched the Groww Nifty India Internet ETF, an open-ended scheme that aims to track the Nifty India Internet Index (TRI). The New Fund Offer (NFO) will open for subscription on Friday, 13 June 2025, and close on Friday, 27 June 2025. This Exchange-Traded Fund (ETF) offers diversified exposure to companies driving India's internet-led transformation. It seeks to invest in companies that derive a significant portion of their revenues from internet-based business models. According to the Scheme Information Document (SID), the Groww Nifty India Internet ETF is free float market capitalisation-weighted, with a cap of 20 per cent per constituent. It is rebalanced quarterly and reconstituted semi-annually, ensuring it remains responsive to market developments. The composition of the Nifty India Internet Index spans six broad sectors, including e-retail and e-commerce, financial technology, internet-enabled retail, stockbroking, digital travel, and online media. Over 83 per cent of the portfolio comprises mid and large-cap stocks. As per , the investment objective of the scheme is to generate long-term capital growth by investing in securities of the Nifty India Internet Index in the same proportion, with the aim of providing returns before expenses that track the total return of the Nifty India Internet Index, subject to tracking errors. However, there can be no assurance or guarantee that the investment objective of the scheme will be achieved. During the NFO, investors can invest a minimum of ₹500 and in multiples of ₹1 thereafter, with units allotted in whole numbers and any remaining amount refunded. After the NFO, only Market Makers and Large Investors (with transactions over ₹25 crores) can buy or redeem units directly from the Mutual Fund in creation unit sizes. According to the SID, post-NFO, the ETF will be listed on the National Stock Exchange (NSE). If units are redeemed, no exit load will be charged. Nikhil Satam, Aakash Ashokkumar Chauhan, and Shashi Kumar are the designated fund managers for the scheme. Who should invest in the Groww Nifty India Internet ETF? According to the SID, the fund is suitable for investors seeking long-term capital appreciation and investment in equity and equity-related instruments of the Nifty India Internet Index. However, investors should consult their financial advisers if in doubt about whether the product is suitable for them.
&w=3840&q=100)
Business Standard
05-06-2025
- Business
- Business Standard
Motilal Oswal MF launches BSE 1000 Index Fund: Here's all you need to know
Motilal Oswal BSE 1000 Index Fund: Motilal Oswal Mutual Fund has launched its Motilal Oswal BSE 1000 Index Fund, an open-ended scheme tracking BSE 1000 Total Return Index. The new fund offer (NFO) will open for subscription today, June 5, 2025, and close on Thursday, June 19, 2025. The fund provides broad-based exposure to India's equity markets by tracking the BSE 100 Total Return Index, which covers around 94 per cent of the country's listed market capitalisation. It includes companies across large, midcap, smallcap, and micro-cap segments, representing diverse sectors and industries. The index offers a mix of established companies as well as fast-growing smaller firms from 22 different sectors. To reduce concentration risk, the top 10 stocks are capped at around 33 per cent of the total weight. It also includes micro-cap companies, whose market size and trading activity have grown from 5 times and 14 times, respectively, over the last five years. The index is passively managed, based on free-float market value, and is rebalanced twice a year. According to the Scheme Information Document (SID), the scheme aims to provide returns that, before expenses, correspond to the total returns of the securities as represented by BSE 1000, subject to tracking errors. However, there can be no assurance or guarantee that the investment objectives of the scheme will be achieved. According to SID, if the units are redeemed on or before 15 days from the day of allotment, an exit load of 1 per cent will be charged. However, no exit load will be charged if units are redeemed after 15 days from the date of allotment. According to the riskometer, the principal invested in the scheme will be at very high risk. ALSO READ | Swapnil Mayekar, Dishant Mehta, and Rakesh Shetty are the designated fund managers for the schemes. Pratik Oswal, chief of passive business at Motilal Oswal Asset Management Company (MOAMC), said that this fund provides a diversified exposure to India's corporate sector and is a natural evolution for investors seeking a passive investment option. "As pioneers in passive investing, our goal is to offer simple, low-cost, and scalable investment options, and this launch aligns with that objective," he added. During the NFO and ongoing basis, investors can invest a minimum amount of ₹5,000 and in multiples of ₹1 thereafter. The minimum amount and frequency vary for investments through a Systematic Investment Plan (SIP). Motilal Oswal BSE 1000 Index Fund: Who should invest? According to the SID, the fund is suitable for investors seeking long-term capital growth and return that corresponds to the BSE 1000 Total Return Index, subject to tracking error. However, investors should consult their financial advisers if in doubt about whether the product is suitable for them.
Medscape
04-06-2025
- Health
- Medscape
Current and Future AI Uses in Dermatology: An Expert's View
Roxana Daneshjou, MD, PhD, is one of the leading experts on artificial intelligence (AI) in American dermatology. Daneshjou, assistant professor of biomedical data science and dermatology at Stanford University, Stanford, California, leads landmark AI studies, is an associate editor of the journal NEJM AI , and gives presentations about the topic, including one at the recent Society for Investigative Dermatology (SID) 2025 annual meeting where she starkly warned colleagues that 'dermatologists who use AI will replace dermatologists who don't.' Roxana Daneshjou, MD, PhD So one could assume that Daneshjou embraces AI in her clinical practice. But she doesn't — not quite yet. While AI is helpful with office tasks that involve writing, she said, it's not currently good enough at handling tasks, such as evaluating skin lesions or helping solve diagnostic riddles. 'You should only use it for tasks where you can easily catch errors and rectify them. You shouldn't use it when you're not sure of the answer or the next step because you could be badly misled,' she said in an interview with Medscape Medical News . But just wait. 'Eventually, once we have valid, well-validated AI tools that can help with diagnosis and triage, they're going to become essentially standard of care,' Daneshjou said. The following are excerpts from the interview with Daneshjou about the present and future of AI in dermatology. What do you mean when you say, 'Dermatologists who use AI will replace dermatologists who don't'? Daneshjou: That's actually a rehashed phrase originally coined by Curt Langlotz, a radiologist who made the same claim about radiologists. The point is that dermatologists aren't going anywhere. AI is not replacing dermatologists. It's that dermatologists who use AI will replace dermatologists who don't. Will some dermatologists be left behind? Daneshjou: Medicine always evolves. There was a time when we didn't have advanced imaging technologies like CT scans and MRIs. And think about how many dermatologists now use electronic health records (EHRs) vs writing everything down by hand. There are still some people writing things by hand, but physicians who can use EHRs have largely replaced those who can't. This isn't a new phenomenon. Whenever new technology comes along, it becomes incorporated into medical practice, and those who learn to adapt and adopt it eventually replace those who don't. Is there fear and denial in the dermatology community about AI? Daneshjou: There's fear, but there's also enthusiasm — sometimes enthusiasm to the point of using things that aren't ready for prime time. In my SID talk, I discussed how it's not safe to use large language models [AI] — LLMs — for any clinical task where you don't know the answer or can't validate it quickly. These models can have errors that are difficult to catch because the outputs look so convincing. Can you give an example of how using LLMs clinically might get a dermatologist in trouble? Daneshjou: In my presentation, I showed AI being asked to calculate a RegiSCAR score for a patient. It gives an output that looks really convincing but has some of the scores wrong. If you didn't know the RegiSCAR score yourself, you might not catch that mistake. Similarly, if you ask about medication dosing, sometimes AI gets it right. But research papers show it can get dosing wrong. If you're not certain of the answer, you shouldn't use an LLM for that task. That's different from giving it bullet points and saying, 'Follow these bullet points to draft a prior authorization letter' or 'Write an after-visit summary for my patient' about a disease you're well-versed in, and you can verify [the text] for accuracy. Are there reliable clinical uses for AI now? Daneshjou: First, I should note that publicly facing models aren't Health Insurance Portability and Accountability Act (HIPAA)–compliant, so you have to be careful about putting patient information in them. Some institutions like Stanford have HIPAA-compliant versions internally. I'd be very wary of using these models for diagnosis and treatment because they can say things that are wrong. I've heard dermatologists say they've put patient images into these models to get a differential diagnosis, which I would strongly advise against — both for HIPAA concerns and because the outputs aren't reliable. What about 'vision language' models (VLMs) in dermatology that are trained on skin images and could potentially be used for tasks such as identifying lesions? Daneshjou: The VLMs we've tested perform worse than the LLMs. They're even more in the research realm. Are current AI systems actually good at categorizing skin lesions? There are many papers claiming they're good, but there's not much prospective trial data validating that performance. We need more trial data proving that a particular model will continue to perform well in a clinical setting. So AI isn't ready for prime time in diagnosis and treatment? Daneshjou: That's correct. It's more useful in a supportive role — helping with writing or editing text. You worked on a 'red teaming' event that assigned attendees — engineers, computer scientists, and health professionals such as dermatologists to assign medical tasks to AI and ask questions. The results were published in Nature in March 2025. What did you discover? Daneshjou: We found that across all models tested, there was an error rate of around 20%. As our chief data scientist at Stanford likes to joke, 'You can use large language models for any task where a 20% error rate is acceptable.' Where do you think AI and dermatology are headed next? Daneshjou: Image-based models will eventually get good enough to earn US Food and Drug Administration clearance. But my concern is this will happen without the creators having to prove the models work across diverse skin tones — an incredibly important part of validation. Our research has shown that most image-based AI models exclude diverse skin tones in their training and testing. We're also going to see more multimodal models — ones that incorporate diverse information like images, text, and molecular data — to provide outputs or risk assessments. That's where AI is heading generally, not only just focusing on text or images alone but also taking information from multiple modalities the way humans do. How often do you use AI in your clinical practice? Daneshjou: Not very much. I run a research lab, so I use it extensively in research. I've used it to help with grant writing and to analyze recommendation letters I've written, asking it to identify weaknesses so I can improve them. Clinically, I've shown my nurse how to use our secure AI to draft prior authorization letters or rebuttals to insurance [rejections]. But otherwise, I don't really use it in clinic. You've discussed how AI handles clinical vignettes vs real patients. What should dermatologists understand about this? Daneshjou: Headlines often misrepresent reality. They'll say, 'AI models can diagnose patients.' But in reality, these models were given very nicely packaged vignettes and were able to provide a diagnosis. Patients don't come as nicely packaged vignettes. In real clinical practice, I have to ask, 'What's going on?' I have to do the skin check, identify lesions, gather history, and ask about duration, symptoms, occupation, and sun exposure. I have to collect all this information and make a judgment. Sometimes, the history doesn't match what you see, so you have to use clinical reasoning. This kind of clinical reasoning isn't what they're testing in research papers that claim AI can diagnose patients. Would you recommend using AI at all for generating differential diagnoses? Daneshjou: I'm not using AI just to use it. I need a specific reason why I think it will help me. For example, if I'm writing a grant and want a summary of one of my own research papers, I might ask it to write a first draft that I can edit because I know my own research well enough to verify what's correct. But I'm not using it to develop differentials for my patients. What would you advise dermatologists who want to adapt to AI but don't know where to start? Daneshjou: The American Academy of Dermatology (AAD) has AI boot camp videos. At the annual AAD meetings, the AAD offers educational sessions on AI. If you look in the Journal of the American Academy of Dermatology , there are Continuing Medical Education reviews that the AAD's Augmented Intelligence Committee has written to educate dermatologists about AI technologies and what to watch for. A few years ago, this content was sparse. But there's been a concerted effort to create educational materials for dermatologists. What would you tell dermatologists who are agonizing about AI? Daneshjou: I see people posting on LinkedIn what I would call outrageous claims based on research papers. They'll say, 'This research paper shows we have autonomous AI agents that can treat patients,' but when you read the actual paper, it doesn't show that at all. Often, the hype doesn't match the reality on the ground. And what about those who think AI is overblown and not worth worrying about? Daneshjou: Claims about AI replacing physicians or dermatologists are indeed overblown. But this is definitely something dermatologists will have to adapt to. It's eventually going to become part of practice in some ways.
