Top headlines: Vaccination to be centralised, says PM; Sebi fines FT AMC

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Sebi fines Franklin MF Rs 5 cr, asks it to return Rs 512 cr fund mgt fees
 

The Securities and Exchange Board of India (Sebi) on Monday slapped a penalty of Rs 5 crore on Franklin Templeton Mutual Fund for “several irregularities” in the running of its six debt schemes that were wound up in April 2020. The market regulator has also directed the fund house to disgorge Rs 451 crore (Rs 512 crore after interest) it has collected as investment management and advisory fees between June 2018 and April 2020.
 

Further, the US-headquartered asset manager has been prohibited from launching any new debt scheme for a period of two years. Read more
 

Centre to provide free Covid vaccine to states for all above 18 years starting June 21: PM
 

Prime Minister Narendra Modi on Monday announced that the central government will provide free coronavirus vaccine to states for inoculation of all above the age of 18 from June 21, and asserted that vaccine supply would be increased significantly in the country in coming days.
 

The Centre has decided to buy 75 per cent of jabs from vaccine makers, including 25 per cent of the state quota, and give it for free to state governments, the prime minister said in an address to the nation.
 

Modi said private sector hospitals can continue to procure 25 per cent of vaccines, but their service charge would be capped at Rs 150 per dose over fixed price of the vaccine. Read more
 

Central Bank of India Q4 net loss narrows to Rs 1,349 cr
 

State-owned Central Bank of India on Monday reported narrowing of its net loss to Rs 1,349.21 crore on a standalone basis in the last quarter of the fiscal ended March 2021.
 

The bank had posted a net loss of Rs 1,529.07 crore in the same quarter of the preceding fiscal year. Sequentially, there was a net profit of Rs 165.41 crore in the December quarter of FY21. Read more
 

France fines Google for abusing “dominant" ads position
 

Google is being fined 220 million euros (USD 268 million) by France's antitrust watchdog for abusing its “dominant" position in online advertising.
 

Practices used by the search engine giant to sell ads "penalize Google's competitors” along with publishers of mobile sites and applications, the Competition Authority said Monday. It is the responsibility of a company with a dominant market position to avoid undermining its competition. Read more