Bizbits — UTI stock lending scheme

NEW DELHI: The Unit Trust of India (UTI) will give kick start to stock lending scheme from next month ``We have decided to start stock lend...

NEW DELHI: The Unit Trust of India (UTI) will give kick start to stock lending scheme from next month “We have decided to start stock lending scheme from December with three Securities and Exchange Board of India (SEBI) approved intermediateries — Stock Holding Corporation of India Limited (SHCIL), Deutsche Bank and Reliance Capital and Financial Consltancy,”said G P Gupta, chairman UTI. He said UTI will be the first financial institution in the country to start stock lending scheme which will help in improving liquidity in stock markes. The stock lending scheme also called the securities lending scheme 1997 was approved by market regulator SEBI in February this year, under the recommendation of B D Shah committee. The scheme specifies lending of securities through an approved intermeidiatry with lending institution continuing to be the beneficial owner of these securities during the lending period.

Microsoft on being cost-effective

MUMBAI: Microsoft is introducing a Zero Administrative initiative for the Windows environment which will make the task of IT managers easier by automating rountine processes like system updates and application installation. The tools are aimed at maximising the value of the distributed PC environment, according to Mike Olsson, Internet Manager of Microsoft. They are part of Microsoft’s efforts to reduce costs, before Windows 98 enters the market in May next year, Olsson said. The next version of Windows NT will be introduced in June 98.

AAI restriction on Leelaventure

MUMBAI: The airports authority of india (AAI) has denied permission to Hotel Leelaventure Limited to expand its hotel project near the Sahar terminal of Mumbai airport beyond a height of 50 ft as it has decided to impose height restrictions in the airport area. The AAI board, which met in Delhi last week, while approving the hotel project, said the airport by-laws must be strictly adhered to.

EDI business promotion centres

MUMBAI: Entrepreneurial Development Institute (EDI) will train entrepreneurs, business counsellors and set up small business promotion centres in CIS and East European countries. The EDI has already received requests from some CIS countries to assist them in developing small scale enterprises. Speaking at the valedictory function of the six day workshop on `Export to CIS and East’ Europe organised by EDI, Ahmedbad here, V G Patel, Director, EDI said UNIDO and the Indian government have decided to make EDI the inter-regional centre for entrepreunership and investment training.