Financial Daily from THE HINDU group of publications
Saturday, June 22, 2002
Markets (June 21)
BL 2501131.30 (-6.57)
BSE Sensex3242.75 (-21.27)
S&P CNX Nifty1062.55 (-7.50)
Dollar (Buy/Sell)48.88/49.01
Gold Std (10 gm)5320 (+40)

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No dividend on US-64 — Tie-up with SBI for funds to meet MIP shortfall
THE Board of Trustees of Unit Trust of India (UTI) today decided not to pay dividend to the unit holders of US-64 for the year ended June 30, 2002. This is probably for the first time since the launch of the scheme 38 years ago that UTI is not ... More

Govt guarantee to UTI to cover Aug redemption
THE guarantee extended by the Government to the Unit Trust of India (UTI) for borrowings to help bridge the deficit in two assured return schemes due for redemption on June 30, will also cover the Monthly Income Plan (MIP) which is up for ... More

Damodaran gets two-year extension
THE Finance Ministry has cleared a proposal to grant a two-year extension to the Unit Trust of India Chairman, Mr M. Damodaran. The proposal has been cleared by the Finance Minister, Mr Yashwant Sinha, senior Finance Ministry officials ... More

ING in talks with IRDA on life venture stake
THE ING Group may either rope in another partner for its insurance venture - ING Vysya Life - or divest part of its stake to the Indian partner. With the group hiking its share in the bank to 43 per cent, its 26 per cent holding in the ... More

Do farm prices hint at recovery?
WILL the humble farmer bail out the economy this time around? Indications are that he will. What lends credence to this belief is, however, not the India Meteorological Department's (IMD) forecast of a 15th consecutive normal-to-excess monsoon ... More

Banks, FIs can crack whip on defaulters
NOW, it would be a new ball game between lenders and borrowers, with the advantage squarely shifting in favour of banks and financial institutions. This is because the Ordinance for Securitisation and Reconstruction of Financial Assets has ... More

Cola MNCs take fizz to traffic junctions
YOU have probably purchased newspapers, magazines, toys, tissue paper, pens and even dusters at traffic crossings. Now how about some branded bottled water and soft drinks? This season, soft drink majors Coca-Cola India and PepsiCo India have ... More

Ford Ranger to hit road in July next
CAR manufacturer Ford India Ltd is gearing up to enter the sports utility vehicle (SUV) segment in the domestic market. Plans are at an advanced stage to manufacture the Ranger at its Maraimalainagar facility. Top sources told Business ... More

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