UTI asked to work on small investor plan
THE UTI board is hopeful of working out an exit route for small investors to its US-64 scheme shortly.

Banks may offer to buy some PSU debt from US-64 basket
A CLUTCH of banks have indicated their desire to pick up some of the public sector bonds in the Unit Scheme-64's portfolio of Unit Trust of India. The offer, mostly from public sector banks, is in a bid to infuse cash into the ailing scheme to meet redem ption obligations.

HC vacates stay on VST open offer -- Denies offer period extension
THE Andhra Pradesh High Court has dismissed the petition filed by a couple of shareholders of VST Industries Ltd on June 8, based on which it had granted interim stay orders directing both Bright Star Investments Ltd and Russell Credit Ltd not to proceed further in the acquisition of VST shares through their offers. Accordingly, the stay on the acquisition process has been vacated.

One-time settlement of SEBs' dues -- Centre yields to States' demand for greater sops
THE Centre today yielded to the States' demand for greater incentives than that prescribed by the Expert Committee on the one-time settlement of State electricity board dues. It, however, refused to yield on the current payments' front even as the States sought relief on payment of current bills to the extent of 40 per cent.

SEBI clears Zydus offer price for German Remedies
THE Securities and Exchange Board of India (SEBI) has given Zydus Cadila permission to proceed with the open offer for German Remedies Ltd (GRL) at the original offer price of Rs 650 per share.

Tata-SIA bid for AI cleared
THE Government has cleared the bid of the Tata-SIA combine for Air India (AI) disinvestment and will review the position of disinvestment of Indian Airlines (IA) ab initio as both the bidders for the airline have been disqualified under the guidelines fo r disqualification of bidders, Mr Arun Shourie, Minister for Disinvestment, said here today.

Banks find a rewarding crop
NATIONALISED banks are waking up to the fact that lending to the farmer is a viable option.

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