RBI rejects four finance firms' registration: The RBI has rejected applications for grant of a certificate of registration submitted by four financial companies. The companies are Mahanivesh (India) Ltd, Geefcee Finance Ltd, Jeetoday Savings & Investment Co Ltd and HM Desai Financial Services Pvt Ltd. The four companies cannot transact the business of non-banking financial institutions.

Credit Agricole reaffirms commitment to India: Credit Agricole Indosuez has reaffirmed its long-term commitment to banking in India. The bank's new strategy for India is based on the provision to customers of the banklocated in India, the bank's expertise in corporate banking, treasury products and project finance. Alain Butzbach, formerly deputy senior country officer responsible for corporate banking and Chicago branch of Credit Agricole Indosuez US, will be responsible for the Credit Agricole Indosuez group's operations through the bank's branches in Mumbai and Delhi and its stock-broking subsidiary, WI Carr Securities (India) Pvt Ltd.

Crisil assigns P1+ rating to Dabur debt plan: Crisil has assigned a P1+ rating to the enhanced Rs 100-crore commercial paper programme of Dabur India Ltd. The double-A ratings assigned to the company's Rs 20-crore non-convertible debenture issue and the fixed deposit programme have been reaffirmed. The ratings continue to reflect the company's strong market position in Ayurveda-based products and its successful track record in converting traditional herbal remedies into successful brands the company's strengths in raw material sourcing and distribution.

Four-day repostoday: The RBI has announced four-day 8 per cent fixed-rate repos in government of India dated securities on Friday for parties holding SGL account and current account with it at Mumbai. The RBI may accept the applications fully or partially. Payment by applicants will be on Friday and repurchase by the central bank on Tuesday.

Crisil puts Magma Leasing debt on rating watch: Crisil has put on rating watch with negative implications the FA+ and A ratings assigned to the fixed deposit programme and the Rs 5.02-crore debenture issue of Magma Leasing Ltd. This is in view of the difficult business environment for non-banking finance companies, which has led to a slowdown in the company's operations and a deterioration in the asset quality. This is expected to lead to a strain on the company's profitability.

Icra reaffirms Eicher debt rating: Icra has reaffirmed the double-A rating assigned to the Rs 20-crore non-convertible debenture programme of Eicher Ltd. A double-A rating has also beenassigned to an additional Rs 15-crore non-convertible debenture programme. Eicher is the flagship company of the Eicher group of companies.

RBI rejects Chicago Futures registration: The RBI has rejected the application for certificate of registration submitted by Chicago Futures & Finance Ltd, a non-banking finance company with its registered office at Ankleshwar. As such, the company cannot transact the business of a non-banking financial institution.

Crisil downgrades Hyderabad Industries debt rating: Crisil has downgraded two non-convertible debenture programmes of Hyderabad Industries Ltd amounting to Rs 28.05 crore to triple-B+ from A+. The revision in rating is reflective of the heightened competitive pressures facing the asbestos industry and the continuing downturn in the performance of the heavy engineering division.