Amid the hue and cry of aviation players’ financial crunch, the aviation regulator, the directorate general of civil aviation (DGCA) is planning to conduct a financial audit of Indian carriers to check if their poor fiscal health is not affecting safety of passengers.
The aviation regulator in past too has conducted these audits, where the Indian carriers are asked to submit their financial details and answer a list of questions like if they are buying spares or cannibalizing planes and if they are paying salaries in time. An airline with 'substantial findings', read which is proven to be in financial distress, has two options - either operate a smaller fleet with full safety or shut down. Airlines have collectively lost $1.7 billion in FY14, a figure that will be lower for FY 2015 due to fall in fuel price.
The DGCA has also initiated the process of recertifying all airlines in the country to ensure full compliance with international norms. The airlines will have to submit all manuals required to the regulator and have to conduct validation flights to prove that they have all systems in place.
Earlier DGCA was planning to make it mandatory for pilots to undergo psychiatric test before takeoff as any failure to clear the test could lead to flight cancellations and claims. DGCA is contemplating the move following the crash of the Germanwings aircraft in the French Alps, which killed at least 150 people. However, it could be an added burden for an industry already facing higher cost of insurance.
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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