Archive for December, 2006

NDA seeks Kalam’s help

NDA seeks Kalam’s help Friday, December 29th, 2006

December 27, The NDA decided to meet president A.P.J.Abdul Kalam on December 28, and seek his help to save the life of Trinamool Congress president Ms.Mamata Banerjee. She is on the indefinitely hunger strike against the Tata Motor project at singur in West Bengal. Her health deteriorated on the 24th day of her hungerstrike over the Singur issue.

BJP MP Vijay Kumar Malhotra said that the president was arriving in the city on monday and they would meet him on Thursday. He also said that the situation had become volatile that they had decided the President should intervene. The BJP also criticised the Prime Minister for not meeting Mamata Banerjee during his recent West Bengal visit.

Earlier, senior leaders of the JD(U), Shiromani Akali Dal, Trinamool Congress, Shiv Sena and the Biju Janata Dal met at the residence of farmer Prime Minister and the Chairman of NDA Atal Bihari Vajpayee, and expressed solidarity with Ms.Banerjee.

The BJP also called Ms.Banerjee’s hungerstrike as a deathdefying agitation to safeguard the land and livelihood of farmers. The BJP said that if Ms.Banergee’s condition deteriorated further and anything happened to her, the country would hold the intensitive and arrogant CPI(M) led government of Mr.Buddhadeb Bhattacharjee and the Union government responsible. The NDA leaders came out with a three point charter of demands and they said that the NDA would request Mamata to break her fast.

Mutual Fund Identification Number (MIN)

Mutual Fund Identification Number (MIN) Friday, December 29th, 2006

December 27, The Assiciation of Mutual Funds of India (AMFI) have lauched a unique mutual fund identification number (MIN). MIN is itroduced to make investments in Mutual Funds more convenient. MIN will be provided free to investors. This will be available at select branches and MF offices.

Currently, the investors has to fulfill the norms of Know Your Customer (KYC), by providing photograph, attested ducuments of proof identity, address and PAN card, and also basic demographic information. But now, the investor has to submit the documents only once to obtain the identification number and using the same he can invest across all the mutual funds. MIN will help in tightening the KYC norms.

Mr.A.P.Kurian, chairman, AMFI said that they would expand this Mutual fund service in a phased manner, starting with 70 to 80 cities. He also said that the investor could quote the number and invest across all the 30 mutual funds and 600 schemes that were alive that day. He added that MIN would be provided absolutely free of cost to the investors, as the entire cost of the service would be borne by the industry.

Investors who make fresh investment of Rs.50000 or more have to obtain MIN from January 1, 2007. Investors can invest in all schemes of all mutual funds without the necessity to submit the KYC documents. All mutual funds have made special arrangements with CDSL Ventures Limited (CVL).

Durban - Second day of second Test

Durban - Second day of second Test Friday, December 29th, 2006

December 27, Sachin Tendulkar was unbeaten on 46 when India finished on 103 for 3 at the end of the second day of the second Test against south Africa at Kingsmead. Only 58 overs were possible on the day before bad light sent the player off the field.

India lost their first three wickets for 61. It could have been worse if South African captain Graeme Smith had caught Tendulkar. Tendulkar had a lucky escape on 21 when Graeme Smith dropped a sitter off andrew Hall with the total reading 70 for 3. Tendular and V.V.S.Laxman batted carefully and add an unbeaten 42 for the fourth wicket. They looked determined their team would earn atleast a draw.

South Africa started to strike hard after the loss of two wickets. A.B.de Villiers held two good catches at second slip as Indian made a poor start to their innings after South Africa.

Indian captain Rahul Dravid was given leg before by umpire Mark Benson to Nel for 11 when he was through the ball seemed to be heading over the stumps. Finally, Jaffer appeared to have found his groove, but when he was on 26, he was caught by De Villers. Shanthakumaran Sreesanth and Kumble finished with 4/109 and 3/62 respectively.


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