SEBI slaps Rs50-lakh fine on Kotak Mahindra AMC

Tribune Web Desk

Updated At : 01:23 PM Aug 28, 2021 IST

New Delhi: SEBI on Friday imposed a Rs 50-lakh fine on Kotak Mahindra Asset Management Company (AMC) and barred it from launching new fixed maturity plan (FMP) schemes for six months for violating norms. It has been directed to refund a part of the investment management and advisory fees collected from unitholders of six FMP schemes along with 15% interest per annum. PTI

New Delhi

IOC to invest Rs1 lakh cr to expand refining capacity

Indian Oil Corporation (IOC) on Friday said it will invest close to Rs 1 lakh crore to raise its refining capacity by almost a third in the next 4-5 years as it saw fuel demand continuing to grow in near future. PTI

Mumbai

Gold bond issue price fixed at Rs4,732/gram

The issue price for the next tranche of Sovereign Gold Bond Scheme 2021-22, which will open for subscription on Monday has been fixed at Rs 4,732 per gram of gold, the RBI said on Friday. PTI

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