Explainers News

SEBI has approved Portfolio Managers Route for Investing in Mutual Fund Units (PRIM), allowing portfolio managers to invest clients' money in direct plans of mutual funds, including ETFs, index funds and Specialised Investment Funds (SIFs). PRIM allows investors to access professionally managed mutual fund portfolios through PMS framework. The framework requires a minimum investment of ₹25 lakh.

India's commerce ministry is identifying and studying AI-resilient job sectors to protect employment growth and create new livelihood opportunities while rapidly adopting AI across the economy. The study reflects policymakers’ concerns over AI's impact on labour markets and employment. The government has identified tourism as one sector that could offer significant employment opportunities.

India called Pakistan PM Shehbaz Sharif's government a "Form 47 government" at UNGA. Form 47 is a provisional document made by Pakistan's poll body after consolidating Form 45 results from polling stations. After 2024 elections, ex-PM Imran Khan’s PTI alleged discrepancies between Forms 45 and 47 and claimed results were manipulated. They've since used "Form 47 government" for Sharif’s government.

Hotmail co-founder Sabeer Bhatia suggested that India should consider a 55% inheritance tax to become a more competitive nation. Inheritance tax is a tax imposed on the transfer of a person’s assets to heirs and children after their death. Under this, the recipient may have to pay the government a portion of the inherited assets, depending on the rules.

Before investing in a global ETF, investors should check if they are paying more than the actual value of the assets it holds. Some key checks include comparing ETF's price with its indicative Net Asset Value, checking if it trades at a premium or discount, and checking liquidity. An investor should also check the gap between buying and selling prices

The "4F crisis" refers to challenges faced by Global South over food, fuel, fertiliser and finance, as mentioned by EAM Dr S Jaishankar at UNGA. He said a combination of climate events like a Super El Niño, fertiliser shortages, and disruptions to grain movement are raising concerns. "Global South’s right to industrialise is...undermined by non-market practices...and market denial," he said.

Artificial intelligence (AI), a term credited to computer scientist John McCarthy, enables machines to perform tasks requiring human-like abilities, such as learning and reasoning. Superintelligence (SI), popularised by philosopher Nick Bostrom, refers to hypothetical AI that surpasses human intelligence. US President Donald Trump recently said that SI will replace AI in government documents.

A late-night meeting between Indian Banks Association (IBA) and United Forum of Bank Unions on Sunday resulted in the deferring of the three-day strike. The decision followed an assurance that a high-level committee will be formed to examine the sticking issue of five-day working week. The sensitive half-yearly closing period also reportedly pushed IBA to give assurances to the union.

Boeing has flagged a software glitch in certain 737 MAX planes that could cause automated vertical navigation to disengage during a missed approach. If pilots change the preprogrammed flight path, the system may switch to a simpler automation mode, requiring additional steps to re-enable it. Air India Express and Akasa Air together operate around 96 Boeing 737 MAX aircrafts.

India may have little room to export sugar next year as concerns grow over the 2027 crop, ISMA Director General Deepak Ballani said. Below-normal monsoon rainfall and drought-like conditions in key sugar-producing states, including Maharashtra and Karnataka, have raised concerns over tighter domestic supplies, he said. India may potentially rely on imports to maintain stocks, he added.

RBI's new bulk FD rules, mandating banks to display interest rates in advance, will be implemented on October 1. Indians buying NRIs' immovable property won't require TAN from October 1. e-KYC will become mandatory to continue receiving subsidised domestic LPG refills. From October 1, only four cash withdrawals per month will be free for SBI's Basic Savings Bank Deposit accounts.

US House of Representatives, known as “The People’s House,” has 435 voting members and six non-voting delegates. Its 435 seats are distributed among the 50 states based on population, with members elected every two years. US Senate, called “The Upper Chamber,” has 100 members, two from each state. Senators serve six-year terms, providing greater political insulation from temporary public outrage.

Iran and Iran-backed factions are celebrating US withdrawal from neighbouring Iraq as it removes major military counterweight to Iran's influence in country. With US forces leaving their last bases by Wednesday, Iran-backed militias could face far less military pressure and gain greater influence over Iraq’s security and political decisions. The exit might also allow resurgence of Islamic State.

A person needs to start investing with a ₹10,000/month SIP at an expected 12% per annum rate of return and has to increase the contribution by 10% every year. After 32 years, the total invested amount would be ₹2.41 crore. while the estimated returns would amount to ₹9.30 crore. The total corpus after 32 years will be around ₹11.71 crores.