UTI gets nod to tie up with Canadian insurance firm
The Unit Trust of India (UTI) has become the first state-owned entity to get Union finance ministry's clearance to sign a Memorandum of Understanding (MoU) with a foreign insurance company. The ministry clearance was received by UTI late last month, following which it signed a memorandum with Canada's largest life-insurance company Manulife last week.

Ministry frames norms to egg FIs fund hydel plans
The Union ministry of power has chalked out a series of policy guidelines to encourage financial institutions (FIs) to take up funding of hydel-power projects. In order to hedge the construction risks involved in setting up these projects and ensure returns to investors after the agreed scheduled date of commissioning, the ministry has proposed that Power Finance Corporation (PFC) should give construction guarantees to cover the risk of construction delay.

BSE set to tighten margins; 8 brokers may be unplugged from today
The governing board of the Bombay Stock Exchange (BSE) on Sunday reviewed the risk-management mechanism of the exchange and held detailed discussions on the need to tighten margins in the wake of the recent crisis over scrips suspected to be backed by Harshad Mehta. Though fears of a payments crisis have abated somewhat, the badla session last week gave enough hints of the underlying risk with scrips like BPL and Videocon attracting huge rates.

CORPORATE
Monopolies panel serves notice on Unitech
Ircon International gets mini ratna status

ECONOMY
Centre plans to route NRI, FDIs into shelter fund
Government approves radiation processing for more food items

EXPRESSIONS
The rolling budget
Growth or the rupee

MARKETS
ICICI won't retire foreign bonds after planned buyback
ModiLuft preference issue likely to open on June 18

LEISURE
Stretching a failed idea to net more
Festivals bring back lost glitter to diamonds