Cyclone Biparjoy- High waves hit Mumbai! Gujarat braces itself as sea turns rough – See Pics
时间:2024-06-26 19:00:58 阅读(143)
The extremely severe cyclonic storm ‘Cyclone Biparjoy’ weakened on Tuesday into a very severe cyclonic storm, the India Meteorological Department (IMD) informed. Currently, the cyclone is centered approximately 290 km southwest of Gujarat’s Porbandar and is moving northwards at a speed of five kilometers per hour. According to the weather department, Biparjoy is expected to make landfall in Gujarat’s coastal region as well as adjoining Pakistan coasts on Thursday. NDRF teams have been deployed in Mumbai and Gujarat as the states prepare for impact. Here we bring to you a glimpse of these sea-side areas where people are evacuating as part of safety measures. (PTI Photo)2/10
A man stands at Bandra beach while the high tidal waves lash the shore as the Biporjoy cyclone intensifies into a severe cyclonic storm, in Mumbai. (PTI Photo/Kunal Patil)
Children play as high tides crash at the sea front at Colaba, ahead of cyclone Biparjoy’s landfall in Kutch, in Mumbai. (PTI Photo)
4/10High tides crash at the sea front at Colaba, ahead of cyclone Biparjoy’s landfall in Kutch, in Mumbai. (PTI Photo)
5/10Satellite image showing the location of Cyclone Biparjoy in the Arabian Sea on Monday. Meanwhile, IMD said that the cyclone may cause extensive damage and Gujarat’s Kutch, Devbhumi Dwarka, Jamnagar districts are likely to be most impacted. (PTI Photo)
6/10A fisherman colony wears a deserted look ahead of the landfall of Biparjoy cyclone, at Jakhau port in Kutch district. Additionally, the IMD on Tuesday issued an Orange alert for Saurashtra and Kutch coasts in Gujarat as the cyclonic storm Biparjoy is set to cross the Jakhau Port in Gujarat by the evening of June 15 as Very Severe Cyclonic Storm. (PTI Photo)
7/10Fishing activities along Gujarat’s south and north coasts have been suspended and authorities began evacuating people in districts by the sea in view of cyclone ‘Biparjoy’. (PTI Photo)
8/10Villagers leave Jakhau village during evacuation ahead of cyclone Biparjoy’s landfall. The Gujarat government has picked up evacuation efforts with the aim to evacuate people within 10 km from the coast in view of the approaching very severe cyclonic storm. (PTI Photo)
9/10National disaster response force (NDRF) personnel brief citizens ahead of cyclone Biparjoy’s landfall, at Mandvi, in Kutch. A total of 12 teams each of the NDRF and SDRF have been deployed in the districts that are likely to be affected by the cyclone and arrangements have been made for the accommodation, food and medicine of the evacuated people. (PTI Photo)
10/10Police personnel on patrol while high tidal waves lash the shore as the Biporjoy cyclone intensifies into a severe cyclonic storm. Meanwhile, PM Modi and Amit Shah have attended separate review meetings in order to ensure cyclone preparedness. (PTI Photo)
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- AMC”.
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In its consultation paper, Sebi has suggested that trustees of mutual funds should focus on market abuse by AMC, its employees and mis-selling by the AMC to increase the asset base.
Also, trustees should be responsible for fairness of fees and expenses charged by the AMC, compare its performance with peers and ensure that AMC’s sponsor is not getting any undue advantage.
In addition to the core areas, the trustees should be responsible for periodically reviewing the steps taken by AMCs for the folios which do not contain all KYC attributes with bank details.
Further, Sebi has suggested that trustees and their resource persons should independently evaluate the extent of compliance by AMC and not merely rely on AMC’s assurances.
To facilitate trustees’ supervision, AMCs should provide them with analytical information.
Presently, the trustees primarily rely on the AMCs for ensuring compliance with the applicable rules.
Under the rules, trustees hold the property of the mutual fund in trust for the benefit of the unitholders. The trustees appoint an AMC to float schemes for the mutual fund and manage the funds mobilised under various schemes, in accordance with the investment objectives.
“In view of the increasing scale and reach of the mutual fund industry, trustees’ role in respect of unitholders’ protection assumes even greater significance,” Sebi said on Friday.
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Over the past decade there has been a five-fold increase in the size of the mutual fund industry. The assets under management (AUM) has surged from Rs 7.93 lakh crore in November 2012 to Rs 39.89 lakh crore in December 2022.
To ensure that trustees devote time and attention to their core responsibilities, Sebi has suggested that for fulfilling other responsibilities, trustees may rely on professional firms such as audit firms, legal firms, merchant bankers for carrying out due diligence on their behalf.
The Sebi also listed some duties trustees can delegate to AMCs. This include ensuring that all systems are in place prior to the launch of any scheme by the AMC, and calculating any income in the mutual fund due to the fund and any income received in the mutual fund for unitholders.
The regulator has proposed to provide a one year time to existing trustees with board of trustee structure to convert into a trustee company, from governance point of view.
Presently, two structures for trustees are permitted — corporate and board of trustees structure. Moreover, there are a few mutual funds which have the board of trustees structure while the trustees of all other mutual funds have adopted the structure of a trustee company.
Considering the enhanced role of trustees over the period of time, Sebi has suggested to increase the minimum number of trustees to adequately perform their functions. Presently, the minimum number of trustees prescribed is four.
Also, it has been proposed that the chairperson of the trustee company should be an independent director.
Sebi has suggested that apart from the meeting of the audit committee of AMCs and trustees (which mostly comprises of independent directors), the board of AMCs and the board of trustees may be mandated to meet at least once a year to discuss the issues concerning the mutual funds.
The regulator proposed that the existing MF Regulations on AMC and its obligations may be amended to include additional clauses with respect to the obligations of the board of AMC.
The proposed amendment may include a clause which casts an obligation on the board of AMC to ensure that all the activities of the asset management company are in accordance with the provisions of these regulations.
The Securities and Exchange Board of India (Sebi) has sought comments from public till February 24 on these proposals.
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