Tuesday, December 29, 1998
Ficci panel moots greater elbow room for sub-brokers
The Federation of Indian Chambers of Commerce and Industry's task force on capital markets has suggested creation of a new distribution system for financial instruments. The task force headed by Ashok V Desai has proposed that sub-brokers should have access to one or more stock exchanges through their terminals.
Unit Trust unveils plan to broadbase broker network
The Unit Trust of India has revamped its broker empanelment system and decided to slash brokerages across the board in a bid to crack down on the nexus between brokers and its dealing room staff. The move is likely to help it save on brokerage fees owing to increased competition.
IBP seeks holding firm, subsidiary model for downstream recast move
IBP, the stand-alone oil-marketing company, has suggested to the Nitish Sengupta committeee a restructuring plan based on the model followed by the Steel Authority of India and Coal India.
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