UTI’s partner commits $500 million
Mumbai: AMP Ltd., an Australian finance company and overseas associate of Unit Trust of India, has committed $500 million for funding infrastructure in India through the latter. This is part of UTI’s India Infrastructure Fund, which is supposed to invest in power generation, telecom, transportation and other such core sector projects.

UTI has floated an investment company in Mauritius for the purpose of routing investments from abroad into the country. The UTI and AMP agreement dates back to March 1999.
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BSE may review the reshuffle
Mumbai: On 27 August 1999, the Bombay Stock Exchange board will be meeting to review the proposed reshuffle in the A group shares. The BSE had earlier proposed the transfer of some of volatile B group shares  to the A group. The Securities and Exchange Board of India had asked BSE to review the decision.
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SHCIL wants to offer all services to MFs
Pune: The Stock Holding Corporation of India Ltd. wants to offer all types of services to mutual funds. To this end, it has received approval from the Securities and Exchange Board of India for offering fund accounting services. It is also in talks with the Bombay Stock Exchange for entering into a securities lending tie-up. SHCIL could offer such services also to asset management companies of mutual funds.
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Trai lashes out at Usha Martin Telekom
Calcutta: The Telecom Regulatory Authority of India has asked Calcutta cellular operator -- Usha Martin Telekom -- to withdraw its ‘free incoming airtime’ scheme. The Trai feels this will cause network congestion. To introduce such schemes is in violation of the Telecommunications Tariff Order, 1999.
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IISc receives enthusiatic response
Bangalore: Indian Institute of Science, the Bangalore-based research institution has received good response to its move to allow private companies to set up research laboratories in its campus. It had come out with this move in 1998.
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