Reliance offers to buy entire ONGC crude output
RELIANCE Petroleum Ltd (RPL) has approached ONGC Ltd with an offer to buy out its entire crude oil output of 25 million tonnes per annum under a long-term contract.

New UTI chief likely this week
THE Government has set in motion the process of appointing a new Chairman for the Unit Trust of India, who is expected to take charge later this week if approvals are in place.

UTI trustees' role under Govt scrutiny
THE role of the board of trustees of the Unit Trust of India (UTI) is now under close scrutiny, with the Government holding the view that they had failed to carry out their fiduciary responsibilities to unitholders, especially on the investments made by the Trust.

Secondary market demand likely for US-64
UNITS of Unit Scheme-1964 (US-64) might soon be in great demand in the secondary markets if the proposal, drafted by the team led by the UTI acting Chairman, Mr K.G. Vassal, finds favour with the board of trustees. As the proposal does not envisage any m onetary help from the Union Government, the Ministry of Finance may only be too glad to give the seal of its approval.

DoT not to reduce licence fees further
THE Department of Telecommunication (DoT) has turned down the recommendation of the Prime Minister's Economic Advisory Council to reduce the existing level of licence fees levied on a revenue sharing basis.

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