30 September Current Affairs

30 September Current Affairs

  • A week after high-profile MoU, questions cloud Petronet-Tellurian deal

One week after it was announced with considerable fanfare at the start of Prime Minister Narendra Modi’s visit to the United States, several loose ends are yet to be tied up in the $2.5 billion (₹17,668 crore) investment planned by Indian PSU Petronet in American LNG company Tellurian.

According to information with The Hindu, the first sign of trouble for the deal came at the signing itself on September 21, when it became clear that what was signed in the presence of Mr. Modi was not the actual agreement, but only a second Memorandum of Understanding.

  • Election Commission cuts short disqualification term for Sikkim Chief Minister

Barred by law from contesting elections for six years after completing his one-year prison term in a graft case in 2018, Sikkim Chief Minister Prem Singh Tamang’s disqualification was sharply reduced to just a year and a month by the Election Commission of India (ECI).

  • E-cigarettes banned to prevent youth from falling into new way of intoxication:PM Modi

Explaining the reason behind the Union Cabinet decision to ban e-cigarettes, Prime Minister Narendra Modi on September 29 said his government wanted to prevent “a new form of intoxication destroying a demographically young country.”

He said like the conventional cigarette, it does not spread an odour as fragrant chemicals are added to it but they are harmful and pose a health hazard.

  • As prices soar, Centre bans onion exports and imposes stock limits

In the light of skyrocketing prices, the government prohibited onion exports until further notice and imposed limits on the stocks that can be held to prevent hoarding. Government sources said the States had been asked to take “strict measures to prevent hoarding by traders, including organising raids”.

Export policy of onion for the item description at Serial Number 51 & 52 of Chapter 7 of Schedule 2 of ITC (HS) classification of Export & Import Items is amended from free to prohibited till further orders,”

an official notification said. In other words, “export of all varieties of onions, as described above, is prohibited with immediate effect.”

  • Obesity and undernutrition coexist, finds study 

Nearly 10% of children in the age group of 5-9 years and adolescents in the age group of 10-19 years are pre-diabetic, 5% are overweight and another 5% suffer from blood pressure. These are among the key findings of the first-ever national nutrition survey conducted by the Centre, yet to be made public, providing for the first time hard evidence of the coexistence of obesity and undernutrition, among school going children.

The Comprehensive National Nutrition Survey conducted by the Ministry of Health and Family Welfare and UNICEF between February 2016 and October 2018 is the first study undertaken to measure malnutrition, including micronutrient deficiencies through biochemical measures such as blood and urine samples, anthropometric data as well as details of non-communicable diseases such as diabetes, hypertension, cholesterol and kidney function in children and adolescents.

  • All you want to know about consolidated account statement 

 

What is a consolidated account statement?

Consolidated account statement or CAS is a single combined statement that shows all the mutual fund investments done by an investor in a month.

An investor may be investing in different mutual fund schemes across various asset management companies (AMCs) and a CAS would show the investor all his investments in one single statement. CAS is an important document for an investor as it provides a snapshot of all ongoing investments and has the details regarding the total number of units and the systematic investment plans (SIPs), among other things.

Why is a CAS needed?

Investors are increasingly using the direct route for investing in mutual funds. Direct route means that investors are investing directly through the fund houses and not through a distributor. Typically, investors invest through 4-5 schemes across different fund houses. While each fund house sends a statement to the investor, it would include details of investments made only through that particular AMC.

Managing such statements from different AMCs could be a cumbersome task and hence CAS helps the investor in seeing all the investment details in one place. A CAS helps an investor to monitor the investments in a much more efficient manner and also aids in better financial planning.

 

Does CAS include all MF investments?

A CAS would include all the folio details of an investor on the basis of his or her Permanent Account Number or PAN. When an investor starts an SIP or makes any kind of investment in a mutual fund, the PAN details have to be submitted. Based on PAN, a CAS is able to include details of all the investments.

Incidentally, this makes it very important for investors to ensure the correct PAN is mentioned at the time of making a fresh investment in mutual funds.