Latest news with #Shenoy
New Indian Express
2 days ago
- Politics
- New Indian Express
BJP seeks CBI probe into Chinnaswamy stadium stampede
BENGALURU: Leader of Opposition in the Assembly R Ashoka demanded that Chief Minister Siddarmaiah order a CBI probe into the stampede during RCB's IPL victory celebrations. In a letter to the CM, Ashoka said that the State Government and the police are making allegations against each other, and people do not know who is responsible for the death of 11 people. The BJP leader said the stampede was a black mark on Karnataka's sports history. The government has washed its hands of by suspending police officers, he said, and added that the Central Administrative Tribunal, during a hearing of a petition filed by a suspended police officer, opined that it is not correct to only blame the police officers. Without politicising the case, it should be handed over to the CBI for a probe to do justice to innocent people who died, he said. The BJP leader said they will continue to fight till the families of the 11 victims get justice. After the stampede during the RCB's victory celebrations, the State Government suspended senior police officers, including the Bengaluru City Police Commissioner, and a judicial probe was ordered. Ex-cop blames smuggling mafia for stampede Former DySP Anupama Shenoy has alleged a conspiracy by anti-social elements behind the stampede. Speaking to reporters here on Saturday, Shenoy said smuggling mafia in Bengaluru was responsible for the chaos. She alleged that they did not want former Police Commissioner B Dayananda to become the next DGP-IGP and created confusion by using mobsters from KG Halli and DJ Halli. In a letter to Bengaluru Urban Deputy Commissioner G Jagadeesha, who is conducting the magisterial inquiry into the incident, Shenoy demanded the retrieval of Call Detail Records (CDR) and verification of CCTV footage to investigate the involvement of the accused in the KG Halli and DJ Halli violence case in the stampede. Shenoy criticised the government for submitting a status report on the incident to the High Court and called for the withdrawal of the same.
Time of India
15-07-2025
- Business
- Time of India
PC penetration doubles since Covid-19 to 15% households in 2024
Academy Empower your mind, elevate your skills Household PC penetration in India has nearly doubled since the Covid-19 pandemic, rising to 13-15% in 2024 from 6-8% in 2019. Annual consumer PC shipments surged to seven million units from four million over the same period, IDC data sourced by ET said the market is undergoing a structural transformation beyond the temporary pandemic-induced surge, driven by refresh cycles, greater financial accessibility, and excitement around AI PCs in mid-tier prices. However, there is a lot of ground to cover, they added.'India's PC penetration continues to be way lower compared to developed economies and even our neighbour China,' said Bharath Shenoy, principal analyst at purchasing power in lower-tier cities is a challenge, but brands are trying to bridge the gap with offers, cashbacks, and no-cost EMIs, he said. With low penetration, there is enough scope to attract first-time buyers, and sentiment is positive, Shenoy sales had slowed down after the pandemic-induced surge. They have started to pick forecasts consumer PC shipments to grow 4.2% in 2026, up from 2.5% in 2025.'The market didn't collapse post-pandemic, it recalibrated,' said Ashweej Aithal, senior analyst at Canalys. 'We're now seeing steadier growth, with smaller cities sustaining demand and education cycles driving seasonal spikes.'Firms Like HP and Lenovo also see opportunity for greater penetration in smaller cities.'Digital adoption is accelerating in tier-II and III cities,' said Vineet Gehani, senior director, personal systems, at HP India . 'AI PCs could account for nearly 50% of the global market by 2027,' he of AI PCs is still nascent, but vendors are ramping up efforts to build awareness and reduce price friction through financing schemes, vernacular outreach, and influencer-led campaigns.'We're working with partners to offer AI PCs across price bands, supported by vernacular content and financing,' said Dinesh Nair, director, consumer business, Lenovo India . 'Some of our best-performing stores are in cities like Indore, Bhopal, Nashik, and Visakhapatnam.'According to Canalys, consumer PC shipments grew 16% year on year in the first quarter of 2025 (January-March), driven by aggressive promotions and strong March-end shipments across the second quarter, however, early indicators suggest a flat trend with growth largely concentrated in the commercial segment, Aithal and executives said gaming notebooks are in demand, with AI PCs also being key growth drivers going forward and upcoming festive sales set to give these a boost. They expect AI PCs to become a critical catalyst for first-time upgraders in smaller pandemic lockdowns made students and people in tier-II and tier-III cities more familiar with PCs, they don't use them on a daily basis, experts said.
Time of India
10-07-2025
- Business
- Time of India
Gold ETFs: 600% surge in monthly inflows to Rs 2,080 crore. Are you late to the party?
As Gold ETFs witnessed a surge of over 613% in monthly inflows to Rs 2,080 crore in June, market experts are of the opinion that gold prices have rallied in recent times due to a combination of global economic and geopolitical factors such as geopolitical uncertainty, central bank buying, inflation concern, and falling interest rates. 'Rising tensions globally, such as the India-US Trade Deal, conflicts in the Middle East, and Trump tariffs, have increased demand for gold as a safe-haven asset. Several countries have been aggressively adding gold to their reserves to diversify away from the US dollar and enhance financial security. India saw a huge jump to 72.6 tonnes of gold in 2024, the highest annual purchase in this three-year period,' Chethan Shenoy, Director & Head - Product & Research, Anand Rathi Wealth Limited shared with ETMutualFunds. Shenoy further adds that the fear of inflation keeps gold appealing as a hedge and with inflation stabilizing, central banks (especially the US Fed) are expected to cut rates in 2025 as lower interest rates makes gold more attractive. Best MF to invest Looking for the best mutual funds to invest? Here are our recommendations. View Details » by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Physical Gold vs Digital Gold: Which One Should You Invest In? Liseer Undo Also Read | Midcap and smallcap mutual funds witness surge in inflows. Is investor confidence back? Another expert believes that this surge is a shift in sentiment supported by resilient gold prices, geopolitical uncertainties and volatility in equity and fixed income markets. Live Events 'The robust inflows in June indicate a decisive shift in sentiment, likely supported by resilient gold prices, geopolitical uncertainties, and volatility in equity and fixed income markets, which have revived gold's appeal as a safe-haven asset,' said Nehal Meshram, Senior Analyst – Manager Research, Morningstar Investment Research India. In May, gold ETFs received an inflow of Rs 291.91 crore after witnessing outflows for two consecutive months. In March and April, gold ETFs witnessed an outflow of Rs 77.21 crore and Rs 5.82 crore respectively. With gold ETFs gaining investors' interest, Shenoy mentions that when considering SIPs, investing in Gold through SIP is not the best option for investors as they would generate a better return investing in equity mutual funds . 'We suggest investors to maintain a balanced portfolio, with an asset allocation of 80:20 in equity to debt. But if one wants exposure to gold, it should not exceed 5-10% of their portfolio,' he adds. There are two other mutual fund categories - dynamic asset allocation and multi asset funds. Dynamic asset allocation funds make investment in equity or debt that is managed dynamically and multi asset funds invest in at least three asset classes with a minimum allocation of at least 10% each in all three asset classes. Also Read | Investing in JioBlackRock Liquid Fund? Find out 1-month to 1-year return of other liquid funds Considering the investment universe of these two categories as well, one thing that all want to know is how do gold ETFs compare with other hedging options like multi asset funds or dynamic asset allocation funds? Multi-asset and dynamic asset allocation funds are types of hybrid funds and cannot be directly compared with Gold ETFs as gold ETFs provide pure, single-asset exposure to gold and are typically used for hedging whereas hybrid funds invest across 2 or more categories, such as equity, debt, and commodities, the expert mentions. 'However, they often lack transparency, and investors have limited visibility or control over the actual allocation. It would be more beneficial for an investor to invest in pure-play equity and debt funds, with an allocation of 80:20 to ensure long-term stability and consistent wealth creation,' Shenoy advices. The total assets under management of gold ETFs was recorded at Rs 64,777 crore as on June 30, 2025 witnessing a surge of 4% from AUM of Rs 62,452 crore in May. On a yearly basis, the AUM has grown by 89% from an AUM of Rs 34,355 crore as on June 30, 2024. According to a report by ETMarkets, on Tuesday, gold and silver settled on a weaker note in the domestic and international markets. Gold and silver plunged in a highly volatile session due to long unwinding by traders ahead of the FOMC meeting minutes and Trump tariff fears. Traders booked profits in long positions ahead of the Fed's June meeting minutes. The U.S. President imposed a 25% trade tariff on Japan and South Korea and also sent letters to dozens of countries to impose trade tariffs if a trade deal is not executed. However, he extended the tariff deadline until 1st August to make a trade deal. Also Read | Quant Small Cap Fund adds Siemens Energy India, 5 others; exits ITC in June After analysing different probabilities of CAGR of Nifty vs Gold, the analysis shows gold has not been a consistent performer when compared to equity across different time frames as it's prices remain unpredictable which makes it a less dependable asset class for investment compared to Nifty, which has shown stable and consistent returns over the last 25 years. When considering long-term wealth creation, Nifty maintains a much stronger probability of beating inflation and compounding wealth versus Gold, which have a higher standard deviation and lower risk adjusted return potential, Shenoy mentions. 'Gold is a defence asset like debt. Hence, the total allocation to gold and debt in your portfolio should not exceed 20%,' he further recommends. Gold ETFs are exchange-traded funds that track the price of physical gold. Each unit of a Gold ETF is backed by a specific quantity of gold, usually equivalent to one gram. They are listed on stock exchanges, and you need a demat and trading account to buy and sell them. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) If you have any mutual fund queries, message on ET Mutual Funds on Facebook/Twitter. We will get it answered by our panel of experts. Do share your questions on ETMFqueries@ alongwith your age, risk profile, and Twitter handle.
Time of India
15-06-2025
- Science
- Time of India
New study suggests fungi are more complex than experts thought
Visakhapatnam: Dr Belle Damodara Shenoy, principal scientist at the CSIR-National Institute of Oceanography Regional Centre, Visakhapatnam, has a new publication on rethinking the 'new' in fungal species. The study stressed the importance of equitable global access to molecular technologies and infrastructural resources, particularly in biodiverse, yet under-resourced regions such as India. This will help foster broad engagement in fungal systematics and ensuring more comprehensive biodiversity assessment and conservation efforts. According to Dr Shenoy, an illustrative example is the colletotrichum gloeosporioides species complex. Once regarded as a single, widely distributed pathogen, it has now been split into multiple genetically distinct species. The study shows how molecular tools revealed species such as C. asianum, C. fructicola and C. siamense, which were previously grouped under one name because of their similar appearance. "As we confront biodiversity loss and climate uncertainty, understanding fungi—the hidden engineers of ecosystems—has never been more critical," Dr Shenoy noted, calling for equitable access to subsequent technologies, regional bioinformatics hubs and collaborative research models that include scientists from the global south. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play Chess on Your PC, Free Play Classic Chess Install Now Undo Published in Mycological Spectrum, the official journal of the Association of Fungal Biologists (AFB), Dr Shenoy's article examines what constitutes a species in an era defined by genetic sequencing and asks whether the term 'new species' carries the same weight today as it once did. "The discovery of fungal species has outpaced our tools for accurately defining them. Historically, fungi were classified on observable traits—spore structure, growth patterns, pigmentation. But these morphological methods are no longer sufficient. Advances in molecular biology, particularly DNA bar coding using the internal transcribed spacer region, have upended traditional taxonomy. Researchers now use techniques such as genealogical concordance phylogenetic species recognition and coalescent-based models to uncover hidden, cryptic diversity," said the NIO principal scientist. "The pendulum may be swinging too far in the other direction. With a surge in DNA-based identifications, there is growing concern over taxonomic inflation—where minor genetic differences are mistaken for species-level divergences. A species is what a fungal taxonomist says it is; subjectivity remains inherent in the process," he added. Coalescent-based methods offer a statistical remedy by modelling gene flow and population divergence, but they demand computational power and bioinformatics expertise that are often unavailable in biodiversity-rich yet resource-poor regions. What is the way forward? Dr Shenoy advocates an integrative, eco-evolutionary approach—fusing molecular data with ecological context and classical morphology. This holistic method promises more robust, meaningful species classifications and deepens understanding of fungal biodiversity, with implications for agriculture, medicine and conservation. "The challenge, however, is accessibility. Countries like India—home to immense fungal diversity—often lack the infrastructure and training needed to participate fully in this genomic era of taxonomy. There must be equitable access to sequencing technologies, regional bioinformatics hubs and collaborative research models that include scientists from the global south," Dr Shenoy added.
The Hindu
15-06-2025
- Business
- The Hindu
Imposition of pension cess by CESC violates spirit of power sector reforms, says MGP
The Mysore Grahakara Parishat (MGP) has said that the Pension and Gratuity cess being imposed by Chamundeshwari Electricity Supply Corporation (CESC) since May was a violation of the spirit of power sector reforms. It places an unfair burden on consumers who had no role in agreements between the government and power sector employees. In a release, Bhamy V. Shenoy, founding president of the MGP, criticised the P&G cess, calling it legal but unethical. He said consumers using more than 200 units or those who opted out of free power have been charged an additional 36 paise a unit as the Pension and Gratuity cess. 'Though it was too late to reverse this charge without a massive public protest which is unlikely, registering dissent could deter future imposition of such levies in other forms in future,' said Mr. Shenoy. The Karnataka Electricity Reform (KER) Act, 2002, was enacted to separate power generation, transmission, and distribution, with the State government responsible for funding pensions and gratuities. However, in 2022, the BJP government amended the Act, permitting power companies to recover pension contributions through tariffs, said Mr. Shenoy. Though the Karnataka Electricity Regulatory Commission (KERC) initially rejected this move, citing the Act's original provisions, the Karnataka High Court upheld the amendment in March 2024, dismissing a challenge by the Federation of Karnataka Chamber of Commerce and Industry, Mr. Shenoy added. He pointed out that the move, while legally sanctioned, amounts to the government reneging on its commitment. 'While the power sector reform took place, the government had agreed to pay its share of pension contribution. Once an agreement is reached, breaking a solemn promise, though legal by amending the law, is unethical and highhanded,' he said. This precedent undermines the KERC's autonomy, the very body established to protect consumers from political interference in tariff decisions, according to the MGP. It also criticised all major political parties for their role in the issue and pointed out that the BJP amended the Act, the Congress government exploited the amendment to offset the cost of its free power scheme, one of its five guarantees. Underlining the imperatives of safeguarding the independence of the KERC to prevent misuse of tariff mechanism for political ends, Mr. Shenoy warned that future governments might impose similar levies for unrelated causes.
