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AMFI to take up audit feeMUMBAI -- The Association of Mutual Funds in India (AMFI) plans to take up the issue of disparity in fees charged b...

AMFI to take up audit fee

MUMBAI — The Association of Mutual Funds in India (AMFI) plans to take up the issue of disparity in fees charged by auditors who inspect mutual funds with Sebi. Several mutuals have complained to Amfi that there seems to be a wide gap in the charges paid by different funds.

BSE irks investors

MUMBAI — The BSE’s move to delist 750 companies for non-payment of listing fees has evoked strong resentment and apprehension among investors in Uttar Pradesh. Midas Touch Investors Association has requested Sebi to intervene and has also urged BSE to drop the delisting proposal.

Gold down

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MUMBAI — Gold prices declined further and silver prices stabilised on the bullion market on Saturday. Standard gold opened weak and fell further to close at Rs 4,015 per 10 gms, thus, showing a fall of Rs 10 over the previous close.

However, prices of ready silver of .999 fineness, raw silver of .916 fineness and tenderable silver stabilised at Rs 8,240, Rs 8,140 and Rs 8,245 respectively.

UCO Bank

MUMBAI — In a bid to improve customer service, UCO bank, a public sector bank has released a booklet titled “Our commitment to Customers” outlining the terms and conditions governing its services to customers. The booklet provides details about the principles of fair banking norms governing UCO Bank’s various services and products.

It also gives details of a regimented complaint redress system through which aggrieved customer can report to the appropriate authority about any breach in the bank’s service.

Hind Photo Films

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MUMBAI — Brig Chaitanya Prakash has been appointed as chairman-cum managing director of Hindustan Photo Films Manufacturing Company. A signal officer, he joined the company after seeking premature retirement from the Indian Army. He was serving at the Military College of Telecommunication Engineering, Mhow (MP) before taking up the current assignment.

Allahabad Bank

MUMBAI — The first delivery of gold consignment as part of Allahabad Bank’s gold trading business was made on January 9, 1998 by Harbhajan Singh, Chairman and Managing Director of the bank.

The bank has started its gold trading business from January 1. “The bank has a target to have transaction to the tune of Rs 3,000 crore by the end of this fiscal,” Singh said. Initially, the bank will obtain orders from wholesale dealers and exporters in Mumbai and Ahmedabad. The bank was planning to sell gold in small qualities of one or two bars in the near future, he added.

Nokia 6110

MUMBAI — Nokia has launched a new cellular phone – Nokia 6110 – in India. The product has been ergonomically designed keeping in mind various personal needs of the user and has an improved battery usage time.

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The new handset comes with a new infrared connector which enables phone to phone transfer of names, phone numbers and messages. It also provides full data connectivity and games for entertainment.

Turtle Wax

MUMBAI — Turtle Wax Inc (USA), a $ 2.5 billion car care company having a presence in over 60 countries has launched its entire range of car care products in India. The company has identified India as a major thrust area as the best cars in world are already available in the country. TG Trading Company has been appointed as the sole distributor for India.