IndusInd Bank appoints new MD: KR Maheshwari has taken charge as the managing director of IndusInd Bank. Earlier, he served as the State Bank of Bikaner and Jaipur managing director. It was during his tenure there that the bank floated a public issue and was granted autonomy along with nine other public sector banks. He had held important assignments for State Bank of India as chief executive officer at Singapore OBU and general manager at London, overseas operations at the SBI international division.IDBI board meet: The board of directors of IDBI will meet on October 29 to consider the financial results of the bank for the half year ended September 30, 1998.
IndusInd Bank board meet: The board of directors of IndusInd Bank is scheduled to meet on October 29 in Mumbai to consider and take on record the unaudited financial result of the bank for the half year ended September 30, 1998.
Corporation Bank board meet:
Corporation Bank has decided to hold its board meeting onOctober 27 at Chennai to consider the audited accounts of the bank for the half year ended September 30, 1998.
RBI rejects Lalbhai Finance registration:
The RBI has rejected the application for certificate of registration submitted by Lalbhai Finance with effect from October 7. "The company will not be able to transact the business of a non-banking financial institution as defined in Clause (A) of Section 45 IA of RBI Act," an RBI release issued on Monday stated.
Three-day repos results: The RBI on Monday mopped up Rs 48 crore through three-day 8 per cent fixed-rate repos in government of India dated securities for parties holding SGL and current accounts. The central bank received only one application and accepted it.
Three-day repos today: The RBI on Monday announced three-day 8 per cent fixed-rate repos in government of India dated securities on October 13 for parties holding SGL and current accounts. Payment by application will be on October 13 and repurchase by the RBI onOctober 16.
Nabard sanctions Rs 24 cr to Madhya Pradesh: Nabard has sanctioned Rs 24.45 crore to the Madhya Pradesh government for irrigation schemes and bridges in the state. The amount covers eight irrigation projects -- two of the projects were situated in the Chhindwara district while one each in the districts of Raigarh, Shahdol, Durg, Raipur, Rajnandgaon and Jhabua, according to a bank release. The biggest project to be covered under the present assistance was the Manki irrigation project in the Rajnandgaon district, expected to cost Rs 4.19 crore.
Crisil downgrades Tamil Nadu finance rating: Crisil has downgraded fixed deposit programme of Tamil Nadu Finance Ltd from FB to FD, indicating the issue is either in default or is expected to be in default upon maturity.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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