Financial Daily
from THE HINDU group of publications

Saturday, July 14, 2001








Page One

 Banks agree to give UTI loans at sub-PLR
PUBLIC sector banks have indicated their willingness to provide a soft loan to the Unit Trust of India (UTI) at interest rates below their Prime Lending Rates (PLR) to support the package under preparation for the bail-out of the troubled US-64 scheme. T he loans would be provided against the pledge of securities held by the trust.

SEBI asked to amend rules on takeover norms
THE Department of Disinvestment (DoD) has requested SEBI to amend the takeover regulations to provide for change of management control, as soon as the Government transfers its shareholding to a strategic partner.

Norms for PSU bidders issued
THE Government today formally issued the guidelines prescribing the qualification criteria for bidders seeking to acquire a stake in public sector enterprises (PSEs) as part of the disinvestment process.

FIs still out of Modi open offer
THE financial institutions (FIs) continued to be a spoke in the wheel of the Modi brothers' attempts to seize management control of Modi Rubber Ltd (MRL).

Onus of US-64 revamp package on UTI board: Sinha
THE Finance Minister, Mr Yashwant Sinha, today said that the onus of finalising the package for the US 64 investors was on the UTI board.

No more investment in IT, says Murdoch
MR James Murdoch, Chairman and CEO of the Hong Kong-based Star Group Ltd, on Friday ruled out any further investments in the IT and broadcasting sectors although he was happy with the Indian operations of Star and positive about the Indian technology sec tor.

BoB sanctions Rs 300-cr credit line to UTI
BANK of Baroda (BoB) has sanctioned a Rs 300-crore line of credit to Unit Trust of India (UTI), senior a bank official said.

Finance Ministry clears new debt revamp scheme
THE Ministry of Finance has cleared a new Corporation Debt Restructuring (CDR) mechanism which will usher in a new voluntary mechanism between the borrowers and lenders to restructure ailing but potentially viable corporate entities.

 Hand in hand
Indian and Pakistani flags adorning Rashtrapati Bhavan on the eve of President Musharraf's historic visit to India.

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