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SBI Mutual Fund is the Mutual Fund of the year at CNBC-TV18 – CRISIL Mutual Fund Awards
MUMBAI: In a glittering ceremony, CNBC-TV18, India’s leading Business Medium and CRISIL, India’s premier ratings agency announced the most sought after and valued Mutual Fund Award in the country – ‘CNBC-TV18 – CRISIL Mutual Fund of the Year Award’.
Mark Tucker, Chief Executive of Prudential & Ajay Srinivasan, Chief Executive, Fund Management, Prudential Corporation Asia spoke on the performance of mutual funds across the world, emerging trends, investor reactions and expectations setting the tone for the evening. This was followed by a p anel discussion with Mr Ramesh Damani, Mr Jaikumar, Mr Kela and Mr Naganathan moderated by Udayan Mukherjee.
As the most powerful radar to prosperity, the CNBC TV18 and CRISIL Mutual Fund of the Year awards performance and consistency in wealth creation of enterprising fund houses for the year 2006. These Awards, based on CRISIL’s objective and analytically rigorous CRISIL~CPR methodology, are the ultimate test in performance and consistency on one of the most distinguished platform.
These awards are the Investors most definite guide to the best managed fund house in the country. It brings together the world’s most renowned investment experts and shares their ideas, philosophies and predictions.
The winners in the various categories at the Mutual Fund of the Year were:
|
Category
|
Winner
|
| Large Cap Oriented Equity Funds | DSP Merrill Lynch Opportunities Fund Sundaram BNP Paribas Select Focus |
| Diversified Equity Funds | SBI Magnum Global Fund SBI Magnum Sector Umbrella – Contra Fund Sundaram BNP Paribas Select Midcap |
| ELSS | SBI Magnum Tax Gain Scheme 1993 |
| Income Funds | Principal Income Fund UTI Bond Fund |
| Income Short | Reliance Short Term Fund |
| Balanced Funds | HDFC Prudence Fund SBI Magnum Balanced Fund |
| Liquid Funds | HDFC Cash Management Fund – Savings Plan UTI Liquid cash plan |
| Liquid Funds Institutional | Tata Liquid Fund – SHIP |
| Liquid Funds Super Institutional | UTI Liquid Cash Plan – Institutional Plan |
| Gilt Funds Long | Reliance Gilt Securities Fund – Long Term Plan Templeton India G-Sec Fund – Long Term Plan |
| MIP Aggressive | HDFC Monthly Income Plan – LTP |
| MIP Conservative | Prudential ICICI MIP Plan – Cumulative |
| Floating Rate Funds (Long term) | Principal Floating Rate Fund – Flexible Maturity Plan |
| Floating Rate Funds (Short term) | HDFC Floating Rate Income Fund – Short Term Plan |
| Sectoral –IT | SBI Magnum Sector Umbrella – Infotech Fund |
| Emerging Fund of the Year (diversified equity) | Prudential ICICI Infrastructure Fund |
| Mutual Fund of the Year | SBI Mutual Fund |
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.
Commenting on the methodology Rupa Kudva, ED & Chief Rating Officer,CRISIL, said “The fund house of the year award is given to the mutual fund which performs well in CRISIL’s CPR framework, has a good presence across categories, and wins at least 2 category level awards”
Speaking at the occasion, Mr. Haresh Chawla, CEO, TV18 Group said, “The size of the Mutual fund industry is a burgeoning Rs 3,39,662 crore indicating the popularity enjoyed by Mutual funds amongst investors who want to participate in India’s growth story. Increased popularity in Mutual funds as an investment avenue and a spurt in the number of innovative mutual funds calls for a robust, unbiased and objective evaluation of the annual performances of funds. Since its inception, ‘The CNBC-TV18 – CRISIL Mutual Fund of the Year Award’ has established a benchmark for excellence in the Mutual Fund industry and has over the years, assisted investors to make the right choices in their mutual fund investments.”
Speaking on the initiative, Mr. Ashvin Arora, Director, OptiMix, said, “CNBC Mutual Fund awards is a landmark event in the Indian Mutual Fund Industry, which recognizes and rewards the best managed fund houses on the basis of objective performance criteria laid down by Crisil. As India’s first multi-manager, Optimix identifies best of breed mutual funds and blends them together into separate products, so that optimal combinations of expertise and style are available to the investor. The Optimix process helps the investor with superior, consistent wealth creation. All in all, this is a great fit and we are proud to be associated with the CNBC TV-18-Crisil Mutual Fund Awards 2007. My heartiest congratulations to the winners of this prestigious award.”
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Induction cooktop demand spikes 30× amid LPG supply concerns
Supply worries linked to West Asia tensions push households and restaurants to turn to electric cooking alternatives
MUMBAI: As geopolitical tensions in West Asia ripple through global energy supply chains, the familiar blue flame in Indian kitchens is facing an unexpected challenger: electricity.
What began as concerns over the availability of liquefied petroleum gas (LPG) has quickly evolved into a technology-driven shift in cooking habits. Households across India are increasingly turning to induction cooktops and other electric appliances, initially as a backup but now, for many, a necessity.
A sudden surge in demand
Recent data from quick-commerce and grocery platform BigBasket highlights the scale of the shift. According to Seshu Kumar Tirumala, the company’s chief buying and merchandising officer, demand for induction cooktops has risen dramatically.
“Induction cooktops have seen a significant surge in demand, recording a fivefold jump on 10 March and a thirtyfold spike on 11 March,” Tirumala said.
The increase stands out sharply when compared with broader kitchen appliance trends. Most appliance categories are growing within 10 per cent of their typical demand levels, while induction cooktops have witnessed explosive growth as households rush to secure an alternative cooking option.
Major e-commerce platforms including Amazon and Flipkart have reported rising searches and orders for induction stoves. Quick-commerce apps such as Blinkit and Zepto have also witnessed stock shortages in major metropolitan areas including Delhi, Mumbai and Bengaluru.
What was once considered a convenient appliance for hostels, small kitchens or occasional use has suddenly become an essential addition in many homes.
A crisis thousands of miles away
The trigger for this shift lies far beyond India’s kitchens.
Escalating conflict in the Middle East has disrupted shipping routes through the Strait of Hormuz, one of the world’s most critical energy corridors. Nearly 85 to 90 per cent of India’s LPG imports pass through this narrow waterway, making the country particularly vulnerable to supply disruptions.
The ripple effects have been swift.
India currently meets roughly 60 per cent of its LPG demand through imports, and tightening global supply has already begun to affect domestic availability and prices.
Earlier this month, the price of domestic LPG cylinders increased by Rs 60, while commercial cylinders rose by more than Rs 114.
To discourage panic buying and hoarding, the government has also extended the mandatory waiting period between domestic refill bookings from 21 days to 25 days.
Restaurants feel the pressure
The strain is not limited to households. Restaurants, hotels and roadside eateries are also grappling with supply constraints as commercial LPG availability tightens under restrictions imposed through the Essential Commodities Act.
In cities such as Bengaluru and Chennai, restaurant associations report that commercial LPG availability has dropped by as much as 75 per cent, forcing many establishments to rethink their kitchen operations.
Some restaurants have reduced menu offerings, while others are rapidly installing high-efficiency induction systems, creating hybrid kitchens where electricity now shares the workload with gas.
For smaller eateries and roadside dhabas, the shift is less about sustainability and more about survival.
A potential structural shift
The government has maintained that there is no nationwide LPG crisis and has directed refineries to increase production to stabilise supply.
Nevertheless, the developments of March 2026 may already be triggering a longer-term behavioural shift.
For decades, LPG has been the backbone of cooking in Indian households. However, recent disruptions have highlighted the risks of relying on a single fuel source.
Increasingly, households appear to be hedging against uncertainty by adopting electric cooking options to guard against price volatility and delivery delays.
If the current trend continues, the induction cooktop, once viewed as a niche appliance, could emerge as a quiet symbol of India’s evolving kitchen economy.
