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UTI to be split into 2 entities
THE BJP-led Government today backed its commitment to protect the interests of 20-million-odd investors of Unit Trust of India (UTI) by announcing a structural reform package, covering a Rs 14,561-crore bail-out for the US-64 and all assured ...
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What the bail-out means for investors
INVESTORS in Unit Trust of India's Unit Scheme 64 and the assured return schemes (Monthly Income Plans and Institutional Investor Schemes) can breathe a bit easier, now that the Government has finally announced the basic contours of a bail-out ...
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Petrol, diesel prices hiked
OIL marketing companies today announced a 22-34 paise per litre hike in the retail selling price of petrol and diesel. The hike, coming in the wake of a recent spurt in global crude prices, will be effective from midnight. While petrol prices ...
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IFCI package almost final
THE Government is close to finalising a comprehensive restructuring package for IFCI Ltd, the Finance Minister, Mr Jaswant Singh, said here today. The restructuring package would be similar to the UTI bail-out scheme in so far as it would try ...
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BSNL sought merger with MTNL in Feb
THE proposal to merge Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam Ltd (MTNL), announced by the Union Communications Minister, Mr Pramod Mahajan, has been doing the rounds in the Department of Telecommunications (DoT) for close ...
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HMT to sell 32 acres to raise funds
HMT Ltd plans to sell 32 acres in Bangalore to raise funds to meet its near-term finances, company sources said. The land is currently owned by subsidiary, HMT Watches, and the funds raised through the sale will be used to service salary ...
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Forex reserves cross $61b
THE country's forex reserves rose by $ 396 million to touch $ 61.035 billion for the week ended August 23, 2002, from $ 60.639 billion in the previous week, as per RBI statistics. Dealers ascribed the rise in reserves to substantial inflows ...
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