News Digest for the day

The Financial Express

UTI Mutual to merge 5 schemes
Merged entity to be named UTI opportunities Fund.

HZL exits RCF fertiliser project
RCF to rework the equity structure.

Intelsat sale may hit roadblock
VSNL may take major hit.

The Economic Times

Educational norms for CAs may be softened
ICAI to postpone implementation of continuing professional education (CPE) by a year for members not in practice.

Maruti is first among auto cos to buy mega risk cover
Policy enables co to access global market via local insurers.

One for all: Group risks hurt life cos
Rate war in uncharted territory throws up new challenges.

The Business Line

5 UCBs in fray for takeover of 2 co-op banks
Shamrao Vital co-op Bank, Saraswat Bank, Kapol Bank, The North Kanara GSB Bank & Abhyudaya Bank have expressed interest.

DoT asks ISPs to stop offering VPN services within 30 days
Those offering VPN services will have to shell out fees between Rs 1cr & Rs 10cr and a licence fee of 8% of annual revenue.

All-industry duty drawback rates revised
Specific rates to replace ad-valorem for many products.