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Wednesday, November 07, 2007


Economy | SEBI

   Unit Trust of India


"Unit Trust of India" means the Unit Trust of India established under the Unit Trust of India Act, 1963. The Unit Trust of India (UTI) has the world's largest share in domestic mutual fund industry.

UTI Bank was the first of the new private banks to have begun operations in 1994, after the Government of India allowed new private banks to be established. The Bank was promoted jointly by the Administrator of the specified undertaking of the Unit Trust of India (UTI - I), Life Insurance Corporation of India (LIC) and General Insurance Corporation Ltd. The Bank today is capitalized to the extent of Rs.232.86 Crores with the public holding at 47.50 %.


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The rise of the Sensex, now exploring 20,000, looks unstoppable. (The Party's Just Begun, Times of India, Editorial, The Times of India, Oct 31, 2007)

Ending a long wait for Glenmark Pharmaceuticals, the US Food and Drug Administration (FDA) finally gave its nod to the Indian drugmaker to resume clinical trials of its asthma and chronic obstructive pulmonary disorder (COPD) experimental drug. (Glenmark Gets Us Nod For Drug Trials, Singapore Times, Correspondent or Reporter, Oct 30, 2007)

Acting on the directions of Congress President Sonia Gandhi, the party came out in strong defence of Prime Minister Manmohan Singh today while lashing out at the BJP for mounting a personal attack against him. (Cong Defends Pm, Blasts Bjp , Tribune, Correspondent or Reporter, Oct 25, 2007)

The bull rally on the bourse continues unabated. After the highest single-day gain on Tuesday, the benchmark indices at both the BSE and the NSE rose by another two percentage points on Wednesday. (Sensex Retains Steam On Strong Fii Buying, Business Line, Correspondent or Reporter, Oct 11, 2007)

The International Finance Corporation (IFC), the private sector funding arm of World Bank, is set to pick up about 4-5% stake in Mangalore-headquartered Karnataka Bank. The bank’s board is meeting on Friday to decide on a preferential allotment to IFC. (Ifc Set To Pick Up 5% Stake In Karnataka Bank, Singapore Times, Correspondent or Reporter, Oct 05, 2007)

SPEARHEADING the drive to make Karnataka an industrial powerhouse, the Directorate of Industries and Commerce has been wooing industrialists, facilitating investments, planning roadshows, offering easy access to government departments . . . . (Industrial Leap, Frontline, Ravi Sharma , Sep 29, 2007)

PUBLIC sector utilities such as the Postal Department, the Department of Telecommunications and the Railways have been playing a key role in propelling Karnataka forward. (In Public Interest, Frontline, Ravi Sharma , Sep 29, 2007)

The country's premier stock exchange's sensitive index on Wednesday opened with a bang and ended with a biggest ever rally notching up a single-day gain of 654 points thanks to the impact of the US Federal slashing its benchmark rate by 50 basis points. (Markets Zoom; Sensex Scales Mt 16k, Deccan Herald, Correspondent or Reporter, Sep 20, 2007)

The stock market in India has been going through a roller coaster. After rising sharply for a few months and reaching a peak on July 24 (Sensex touched 15,869), it started fluctuating. (Share Market Reality, Tribune, Arun Kumar, Sep 13, 2007)

Bank consolidation is again in the news. The boards of State Bank of India (SBI) and State Bank of Saurashtra (SBS) are reported to have approved the merger of the latter with the former. (Bank Consolidation Not Inevitable — Multi-Tiered Model Still Relevant, Business Line, T. B. Kapali , Aug 30, 2007)

It is astonishing that 43 years after Unit Trust of India started US64 and 14 years after the first private mutual funds were permitted, less than 2 per cent of the working population has invested in them according to an Invest India survey. (Coffee & Funds, Telegraph, Editorial, The Telegraph, Aug 13, 2007)

The Anti-Collision Device (ACD), an on-board train protection device indigenously developed by Konkan Railway, will be ready for installation by 2013. (Anti-Collision Device Will Be Ready By 2013, Hindu, Sujay Mehdudia, Aug 11, 2007)

The latest issue of People’s Democracy has an editorial by Sitaram Yechury on the police firing in Andhra Pradesh titled ‘Unparalleled Brutality Of The AP Government’. (Khammam, Nandigram, Indian Express, Editorial, Indian Express, Aug 08, 2007)

Standard Chartered Bank on Tuesday said it was still in "advanced stage" of talks with Securities Trading Corporation of India (STCI) to buy a stake in its broking arm UTI Securities. (Stanchart Still In Talks For Stake In Uti Securities , Singapore Times, Correspondent or Reporter, Aug 08, 2007)

SBI Mutual Fund has emerged as the most popular mutual fund brand, leaving behind ICICI Prudential MF and Reliance Mutual Fund, in a survey conducted by global research firm The Nielsen Company (TNC.) (Sbi Mf Is Most Popular Mf Brand: Study , Singapore Times, Correspondent or Reporter, Aug 08, 2007)

An important book for the insights it offers into the mind of the man at the fulcrum of national economic policy in the longest (1998-2004) non-Congress government since 1947. (The Budget That Wasn't, OutLook, Shankar Acharya, Jul 31, 2007)

State Bank of India (SBI), UTI Asset Management Company Pvt. Limited and the Life Insurance Corporation (LIC) are the three successful bidders poised for appointment as pension fund managers for Central and State government employees under a new . . . . (3 Entities To Handle Pension Funds, Hindu, Correspondent or Reporter, Jul 21, 2007)

RBI has been buying dollars to maintain the rupee at 40.35 levels’ (Forex Kitty Swells $4.12 B, Touches $219 B, Business Line, Correspondent or Reporter, Jul 21, 2007)

Having failed in his attempts to discipline Members of Parliament who run to the well at the drop of a hat, Speaker Somnath Chatterjee plans to pinch where it hurts most. (Speaker Proposes: No Work, No Pay For Mps Who Stall House, Indian Express, Varghese K George, Jul 21, 2007)

Despite the objections raised by the Left parties over the disinvestment of Central Public Sector Enterprises (CPSE), the UPA Government is planning to revive the programme. (Govt Plans To Revive Disinvestments, Pioneer, Bhagyashree Pande, Jul 20, 2007)

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