Jaithirth Rao inducted into 20th Century board: Jaithirth Rao, popularly known as Jerry, has joined 20th Century Finance Corporation. Rao is to be shortly inducted into the board of the non-banking finance company and will spearhead the strategic direction of the entire group. Rao is a former country head and chief executive of Citibank -- India, and was associated with the bank for 25 years.

Centurion Bank revises rates: Centurion Bank has revised the interest rates on its domestic term deposits with effect from April 1, 1998. The interest rate remains unchanged on a maturity period of 30 days-three years.However, the bank will offer 12.50 per cent on a maturity slab of over three years -- 50 basis point lower than the earlier rate.

HSBC Capital appoints new associate director: HSBC Capital Markets Private Ltd has announced the appointment of Ravi Menon as its associate director, debt capital market. Menon will be responsible for originating and executing domestic and international deals in the debt capital market.

Corporation Bank revises FCNR(B) rates: Corporation Bank has revised its FCNR(B) deposit rates. As per the new structure, interest rates for US dollar currency for six months-one year and one-two years have been increased by 0.25 per cent to 5.25 per cent and 5.50 per cent respectively. For two-three years, the bank will offer 5.50 per cent and beyond three years 6 per cent.

Three-day fixed-rate repos results: The RBI on Thursday mopped up Rs 3,567 crore through a three-day fixed-rate repos in government of India dated securities for parties holding SGL and currentaccounts. The interest rate for the repos was pegged at 5 per cent.

CARE assigns PR1+ rating to Hindustan Construction: CARE has assigned a PR1+ rating to the proposed Rs 10-crore commercial paper issue of Hindustan Construction Company. "It has a track record of over seven decades in the construction industry and has completed about 490 projects in various sectors," a CARE release stated.

Syndicate Bank appoints new general manager: YM Shetty has taken charge of Syndicate Bank, Mumbai zone, as general manager. Shetty has held various positions such as deputy general manager of the Ahmedabad and Mangalore zones before being elevated as general manager in 1996.Icra downgrades Ansal Properties debt plan: Icra has downgraded the rating of the fixed deposit programme of Ansal Properties and Industries from MAA- to MA and has put the rating under rating watch with negative implication. "The downgrade takes into account the downturn in the real estate market," an Icra release stated.

Icradowngrades India Seamless debt plan: Icra has downgraded the ratings assigned to Rs 10.1-crore non-convertible debenture and fixed deposit programmes of India Seamless Financial Services to LB and MB from LA and MA. "The downgrading reflects the deterioration in the company's performance. It factors a significant decline in collection efficiency, hardening of non-performing assets and asset liability mismatch," an Icra release stated.

Nabard sanctions: Nabard has sanctioned Rs 24.79 crore from the cooperative development fund till March 31, 1998, to various cooperative credit institutions in the country. As against the sanctionsof Rs 24.79 crore, the disbursements were to the tune of Rs 8.99 crore.