Amex in pact with Hindustan Petroleum: American Express and Hindustan Petroleum has signed an MoU for an alliance for card acceptance. Following the MoU American Express cards will be accepted at key HPCL retail outlets in the metros and other major towns. Thearrangements would be subsequently rolled out to cover a wider network of HPCL's retail outlets throughout country. "We are happy to welcome HPCL outlets to the rapidly growing family of establishments accepting the American Express Card. We are confident that our association with HPCL will give the American Express card wider acceptance," said an Amex press release.

Sanjiv Vohra is ABN-AMRO relationship banking head: Sanjiv Vohra has been appointed as head of relationship banking, India at ABN-AMRO Bank, said a bank release issued on Monday. Vohra joined the bank from Citibank where his last assignment was as head (north India) corporate banking, based in New Delhi. Vohra joined Citibank in 1986 where he had stints in internal audit, financial institution group and corporate banking.

RBI mops up Rs 2000 cr via repo sale: The Reserve Bank of India on Monday mopped up Rs 2000 crore through a three-day fixed rate repo in government of India dated securities for parties holding SGL and currentaccount. The central bank received only one application and accepted it. The interest rate for the three-day fixed rate repo was pegged at 8 per cent.

Global Trust unveils phone banking: Global Trust Bank on Monday launched its phone banking and depository services in Delhi. "Thus service will enable bank's corporate and individual clients to get information on their financials from anywhere in the world," said a bank release issued on Monday. The bank will also offer depository services to retail customers apart from clearing members.

Shree Cement debt downgraded: Icra has downgraded the rating of the non-convertible debenture programme of Shree Cement Ltd (SCL) from LA to LBBB+. The revised rating indicated moderate safety. The downgrade takes into account continued pressure on the realisation of the company due to surplus capacity in north India, which is the company's main market. "SCL has taken substantial debt over the past 2 years to fund its capacity expansion. Although SCL has takensteps to replace some of its high-cost debt with lower cost loan, its coverage indicators are expected to be under pressure in the medium term due to lower realisation and high debt repayment obligations," said an Icra release issued on Monday.

364 day T-bills auction: The Reserve Bank has announced the auction of 364-day treasury bills for a notified amount of Rs 750 crore. According to an RBI release issued on Monday, tenders should be submitted in the prescribed from on February 24, 1999 results will be announced the same evening. Payment by successful bidders will be on February 26, 1999.

3-day repo sale: The Reserve Bank of India on Monday announced a three-day 8 per cent fixed rate repos in government of India dated securities on February 23, 1999 for parties holding SGL account and current account with it at Mumbai. The eligible banks/institutions may submit their applications indicating the volume of repos to the chief general manager, international debt management cell, RBI, Mumbai.The applications may be accepted fully or partially. Payment by applicants will be on February 23, 1999 and the repurchase by the RBI on February 26, 1999, said a RBI release issued on Monday.