MUMBAI, May 13: The Electronic Clearing Service (ECS) facility for payment of dividend under US-64 of Unit Trust of India (UTI) which was earlier available to unit holders whose dividend income did not exceed Rs 25,000 on any one single instrument will now be available to those whose incomes do not exceed Rs 50,000 per instrument.

The raise was effected by Reserve Bank of India (RBI). The main advantages that the ECS facility offers are: instant credit of dividends under US-64 to the unit-holder's bank account electronically, a facility available free of charge; total avoidance of fraudulent encashment of dividend warrants and no scope for loss of dividend warrants during transit.

ABB bags order

MUMBAI: Asea Brown Boveri's (ABB) industrial and building systems segment in India has recently secured two major contracts valued at over Rs 20 crore for installing comprehensive paint finishing systems for Volvo India Pvt Ltd and Mahindra and Mahindra Ltd. The sophisticated economical and environment-friendly system will be supplied by ABB's paint business unit at Maheshthala, Calcutta.

Crisil indices

MUMBAI: Credit Rating Information Services of India Limited (Crisil), a leading rating agency, is launching two segment benchmark equity indices Crisil MNC Index and Crisil Indian Business Groups Index.

The Crisil MNC index comprises 50 listed companies in which the foriegn shareholding is over 50 % and/or the managment control is vested in the foriegn company.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.