News Broadcasting
Franklin Templeton gets CNBC-TV18, Crisil ‘Mutual Fund of the Year’ Award
MUMBAI: CNBC-TV18 and Crisil have, in association with BNP Paribas, joined hands to combine their individual long standing awards, to recognise consistent performance of India’s mutual funds, through the CNBC TV18 Crisil Mutual Fund of the Year Award.
SEBI Chairman G N Bajpai was the Guest of Honour at the awards ceremony and presented Franklin Templeton Mutual Fund with the ‘Mutual Fund of the Year Award’.
In addition to leaders from various fund houses, luminaries from India’s financial services sector including senior regulators, leading economists and analysts witnessed a host of awards being presented to various mutual funds for their consistent performance over time on the Crisil~CPR performance rankings framework.
Speaking at the CNBC-TV18 – Crisil Mutual Fund of the Year Award ceremony CNBC-TV18 CEO Haresh Chawla said, “This is the first time both CNBC-TV18 and Crisil have combined their long-standing associations with the mutual fund industry, thus creating the biggest Mutual Fund Awards in the region. The Mutual Fund of the Year Award is used extensively as a benchmark by intermediaries as well as investors today. CNBC- TV18 is determined to continue its endeavour of helping investors make informed investing decisions based on objective criteria.”
Commenting at the Awards ceremony, Crisil managing director and CEO R Ravimohan said, “The Crisil~CPR performance rankings have over time developed into the industry benchmark for mutual fund schemes in India, as they offer a robust, unbiased and objective yardstick for recognition of consistent performance. Crisil has a long-term commitment to the funds industry to help develop new standards in benchmarking, valuation and other analytics. We are happy to partner CNBC-TV18 in awarding the best performing funds.”
According to Crisil executive director and chief rating officer Roopa Kudva , “When Crisil launched Crisil~CPR in 2000, we had two key objectives in mind – To establish for the growing mutual fund industry a credible, objective and analytically rigorous measure for recognition of consistent mutual fund performance; and, as part of Crisil’s ongoing initiatives — to deepen India’s capital markets. “
The mutual fund schemes, which were awarded the CNBC-TV18 – Crisil Mutual Fund of the Year Awards for their consistent performance in seven categories were:
Open-ended Equity Diversified Funds: Alliance Basic Industries Fund, DSP Merrill Lynch Opportunities Fund, UTI Growth Value Fund
Open-ended Income Funds: Birla Income Plus Plan B, Principal Income Fund
Open-ended Income Short Term Funds: Birla Bond Plus – Retail, Principal Income Fund – Short Term Plan
Open-ended Balanced Funds: DSP Merrill Lynch Balanced Fund, HDFC Prudence Fund
Open-ended Liquid Funds: Alliance Cash Manager, Prudential ICICI Liquid Plan, Templeton India Treasury Management Account
Open-ended Gilt-Long Term Funds: Templeton India G-Sec Fund – Composite Plan, Templeton India G-Sec Fund – Long Term Plan
Open-ended Monthly Income Plans: FT India Monthly Income Plan
Consistent performance, as determined by the Crisil Composite Performance Rankings (Crisil~CPR) methodology was used for deciding the award winners. The eligibility criterion for being among the universe for consideration for the Awards was fairly stringent – the schemes had to qualify for all the four quarterly Crisil~CPRs in the year 2004.
Crisil FundServices analysed performances of the eligible schemes on the following parameters: risk adjusted returns, portfolio constitution of funds parameters like concentration, liquidity and asset quality. Hence the analysis is forward looking as well. The schemes were then ranked category-wise by computing the weighted average levels of the parameter-wise performance.
News Broadcasting
BBC to cut up to 2,000 jobs in biggest overhaul in 15 years
Cost pressures and leadership change drive major workforce reduction plan
LONDON: BBC has unveiled plans to cut up to 2,000 jobs, roughly 10 per cent of its global workforce, in what marks its biggest downsizing in 15 years.
The announcement was made during an all-staff meeting led by interim director-general Rhodri Talfan Davies, as the broadcaster moves to tackle mounting financial pressures and reshape its operations.
Between 1,800 and 2,000 roles are expected to be eliminated from a workforce of around 21,500. The cuts form part of a broader plan to save £500 million over the next two years, aimed at offsetting rising costs, stagnating licence fee income and weaker commercial revenues.
In a communication to staff, BBC interim director-general Rhodri Talfan Davies said, “I know this creates real uncertainty, but we wanted to be open about the challenge,” acknowledging the impact the move would have across the organisation.
The restructuring comes at a time of leadership transition. Former director-general Tim Davie stepped down earlier this month, with Matt Brittin, a former Google executive, set to take over the role on May 18, 2026.
While some cost-cutting measures are being implemented immediately, the majority of the structural changes are expected to roll out over the next few years, with full savings targeted by the 2027–2028 financial year.
The broadcaster had earlier signalled its intent to reduce its cost base by around 10 per cent over a three-year period, warning of “difficult choices” as it adapts to shifting economic realities and audience expectations.
With operating costs hovering around £6 billion annually, the BBC’s latest move underscores the scale of the financial challenge it faces, as it balances public service commitments with the need for long-term sustainability in an increasingly competitive media landscape.
