Crisil has downgraded the rating of JK Corporation's Rs 61.68-crore debenture programme to "BBB" from "A". It has also downgraded the rating assigned to the company's Rs 82-crore partly-convertible debenture issue to "BBB" from "A". The rating reflects the difficult business conditions for the company and the decline in its performance in all the businesses of the company.

Crisil assigns AAA rating to Johnson and Johnson

Crisil has assigned an "AAA" rating to the Rs 10-crore debenture programme of Johnson and Johnson. A "P1" rating has been assigned to the company's Rs 30-crore commercial paper programme. Crisil assigns P1 rating to Wipro debt plan: Crisil has assigned a "P1" rating to the Rs 100-crore commercial paper programme of Wipro. The rating factors in the diversified profile of its operations, its strong market position in the hardware and software business, strong management, comfortable liquidity and improvement in profitability.

RBIrejects Rajasthan Bank registration

The RBI has rejected the application for certificate of registration submitted by Rajasthan Bank Financial Services with effect from July 2.

Four-day fixed-rate repos

The RBI on Thursday mopped up Rs 5,158 crore through its four-day fixed-rate repos in government of India securities for parties holding SGL and current accounts. The central bank received seven applications and accepted all ofthem. Three-day fixed-rate repos today: The RBI has announced a three-day fixed-rate repos in government of India dated securities on July 3 for parties holding SGL and current accounts. Payment by applicants will be on July 3 and repurchase by the RBI on July 6.

SBI credit card launch in October

The State Bank of India Credit Card, a joint venture between SBI, GE and Visa, will be launched on October 1 with an aim of securing 2 million customers by 2000. In an effort to shed the public sector banks' widely held image of being customer-unfriendly, the SBI willincrease its business hours without any change in its working hours.

Walchand Capital net up

Walchand Capital has registered a 12 per cent increase in its net profit to Rs 2.95 crore for 1997-98, compared with Rs 2.63 crore in the previous year. The company's total income has increased marginally to Rs 6.11 crore from Rs 6.10 crore last year. The board of directors have recommended a dividend payout of Rs 40 per share.