The Securities and Exchange Board of India’s (Sebi's) renewed push to split the role of an investment advisor and distributor is causing a lot of heartburn among mutual fund honchos. “If Sebi’s proposal is implemented, the mutual fund industry is likely to lose 40 per cent of its business,” says the CEO of a fund house.

Currently, the mutual fund industry’s inflows come from three sources – 40 per cent from banks and 30 per cent each from independent financial advisors and distributors. Industry players said that collection from branches of leading players like ICICI Prudential Mutual Fund, HDFC Mutual Fund and SBI Mutual Fund would be much more.

The Archaeological Survey of India is likely to restrict the number of tourists visiting the Taj Mahal to 40,000 daily, and put a three-hour cap on each ticket holder to tour the 17th-century Mughal monument in a bid to preserve the heritage site, a source in the culture ministry told PTI.

Culture Secretary Ravindra Singh held a high-level meeting today with ASI officials and representatives of Agra district administration and officers of the Central Industrial Security Force, where the decision was taken.

The proposed US Bill, Protect and Grow American Jobs, is riddled with onerous conditions and places unprecedented obligations on both Indian IT companies and clients using H-1B visas.

Software body Nasscom said it has flagged its concerns around visa-related issues in the US with the Senators, Congressmen and the administration, and will engage further in a dialogue over the next few weeks over the proposed legislation.

School buses will stay off roads in Mumbai tomorrow in view of a Maharashtra bandh called by Dalit outfits to protest the violent clashes in Pune yesterday.

The School Bus Owners' Association (SBOA) on Tuesday said it would not operate its fleet of 40,000 buses on Wednesday

At a meeting chaired by Rajya Sabha Chairman M. Venkaiah Naidu, a sizeable number of Opposition parties, including Congress, advocated sending the triple talaq Bill to a select committee.

The parties, including the SP, the BSP, the AIADMK, the DMK, the CPI, the CPI(M) and the BJD, have demanded detailed deliberations on the criminality clause, under which a man can be sentenced up to three years in prison for abandoning his wife through talaq-e-biddat or instant triple talaq.

The anger over marking the 200th anniversary of Bhima Koregaon battle in Pune district of Maharashtra continued on Tuesday as protestors disrupted suburbs and local train services on the Harbour Line.

The protesters blocked roads in several areas of Mumbai, forced shops to shut down and also attacked a journalist of a television news channel.

Infrastructure major Larsen & Toubro (L&T) on Tuesday said its construction arm has won contracts worth Rs 14.54 billion including one in Egypt.

The Smart World & Communications Business Unit secured an order worth Rs 8.64 billion for implementation of 5 million Smart Meters across 16 cities of Uttar Pradesh and Haryana, the company said in a statement.

Home-grown auto major Mahindra and Mahindra on Tuesday reported 30.19 per cent increase in total tractor sales at 18,288 units in December.

The company had sold 14,047 units in December 2016, Mahindra and Mahindra said in a statement.

The ED has summoned Karti Chidambaram, son of senior Congress leader P Chidambaram, for questioning in connection with its money laundering probe in the INX media case.

Official sources said Karti has been called on January 11.

The investigating officer (IO) of the case will record his statement in the case, they said.

The National Medical Commission Bill, 2017, which seeks to replace the Medical Council of India with a new body, was referred to the Parliamentary Standing Committee on Tuesday.

More than 2.9 lakh doctors had gone on a 12-hour nationwide strike (6 a.m. to 6 p.m.) in protest against the Bill, which seeks to allow those practicing alternative and traditional medicine to practice allopathy after completing a bridge course.

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