HSBC on Thursday announced the introduction of home-banking services for its customers in Mumbai. The services will be available at a nominal charge to AssetVantage customers and current account holders with balances of over Rs 5 lakh. Home-banking services include delivery of cash, drafts and pay orders to the customer's home or office and pick-up of cheques, drafts and other instruments from the home or the office.

Four finance firms' registration rejected:

The RBI has rejected the applications for certificates of registration submitted by four financial companies. The companies are Schematic Finance, Udayasree Finance, Sanyu Investment and Sri Chakra Financial Services.

Crisil reaffirms Metrochem debt rating:

Crisil has reaffirmed the A rating assigned to the Rs 15-crore non-convertible debenture issue of Metrochem Industries Ltd. The FA+ rating assigned to the company's fixed deposit programme has also been reaffirmed. The rating takes into account the company's established position in the reactive dyestuffs industry, high proportion of export sales and price competitiveness arising from its large installed capacities, backward integration into manufacture of key intermediates and high process synergy.

Crisil reaffirms Carbon Everflow debenture rating:

Crisil has reaffirmed the A+ rating assigned to the Rs 7.20-crore non-convertible debenture issue of Carbon Everflow Ltd. A P1 rating has been assigned to the company's Rs 8-crore commercial paper programme. The ratings take into account the improved performance of the graphite electrode division, particularly on the export front, and the favourable capital structure of the company.

Crisil rates Chicago Pneumatic debt plan:

Crisil has assigned a P1+ rating to the Rs 12-crore commercial paper programme of Chicago Pneumatic India Ltd. The rating factors in the advantages derived by the company as part of the Sweden-based Atlas Copco group, its strong market position in industrial tools and reciprocating compressors.

Crisil reaffirms Hero Cycles debt rating:

Crisil has reaffirmed the P1+ rating assigned to the Rs 30-crore commercial paper programme of Hero Cycles Ltd and has also reaffirmed the double-A rating assigned to the company's Rs 20-crore non-convertible debenture issue. The rating reflects the company's strong brand franchise, dominant market position in the bicycle industry, favourable operating efficiency, improving operating margins, increased debt usage and comfortable coverage ratios.

Four-day repos today:

The RBI has announced four-day 8 per cent fixed-rate repos on December 12 for parties holding SGL and current accounts with it at Mumbai. The eligible banks/institutions may submit their applications indicating the volume of repos (face value) in the prescribed form obtainable at the internal debt management cell, RBI central office Mumbai.

Lions Mutual Benefits barred from accepting deposits:

The RBI has prohibited Lucknow-based Lions Mutual Benefits from accepting deposits with effect from December 11 and also prohibited the company from accepting deposits from the existing depositors certificate holders, in any form, whether by way of fresh deposits or renewal or otherwise.

Four-day repos results:

The RBI has accepted all the two applications it received for an amount of Rs 321 crore for the four-day 8 per cent fixed rate repos, held on Friday, an RBI release said.

Maharashtra State Cooperative bank gets new chief:

Congress legislator Ajit Pawar has been unanimously elected as the chairman of Maharashtra State Cooperative Bank at the first meeting of newly constituted board of directors. Pawar, who is the nephew of Sharad Pawar, is the chairman of Poon District Cental Cooperative Bank. He will succeed the Congress legislator Vishnuanna Patil. RC Patil, who represents Thane District Cental Cooperative Bank, has been elected as the vice-chairman of the Maharashtra State Cooperative Bank.