The shared payment network system (SPNS) controlled by the Indian Bank Association (IBA) concluded around 1000 transaction worth Rs 15 lakh in Mumbai during the two-day nationwide strike through its 89 ATMs as against 600-700 transactions on a normal day. "We have taken necessary precautions to keep ATMs running. We have stocked ATMs with Rs 80 lakh to cater to the the demands of our clients," said MN Dandekar, chief executive and secretary of the IBA.

Konkan Railways mops up Rs 50 cr via bonds

Konkan Railways Corporation Ltd (KRC) has mobilised Rs 50 crore through the American Put Bond. The instrument was structured by Kotak Mahindra Capital Company who were also the sole arranger to the issue.

The bonds having a coupon of 12.6 per cent were placed at a face value of Rs one lakh maturing after three years and is payable half yearly. The bonds will be redeemed at a price of Rs 99,500, Rs 99,750 or Rs 1 lakh (at par) "There is a facilityof an anytime put option to the investor after one year from the deemed date of allotment. While exercising the put option, the investor has to specify a notice period of 30, 60 or 90 days," said a release issued by Konkon Railway.

HSBC to provide depository services:

The Hongkong and Shanghai Banking Corportion (HSBC) has extended depository services for its personal banking customers throughout India. The service which was first launched in Mumbai last year is now available from any of the HSBC's 22 branches located throughout the country. "HSBC will offer a complete range of depository services including custody, dematerialisation, rematerialisation, settlement of trade and account maintanance," said an HSBC release issued recently. ICICI Bank opens new branch

ICICI Bank has further consolidated its branch network with its opening of the 50th branch at Nanganallur, Chennai. The branch will offer a wide range of products and services customised to indivisual needs with the help of thestate-of-the-art technology and trained professional work. "With this, ICICI Bank has 58 offices 50 branches and eight extension counters spread over 14 states and 29 centres," said a bank release issued recently.

Visa unveils ties electronic purse:

Visa International has launched electronic purse load via GSM mobile phone. "It has carried the world's first download of electric cash onto an electronic purse card via a GSM mobile phone," said a company release issued recently. The fist implementation of the new technology will take place in Leeds, UK.

"Barclaycard, the UK's largest credit card issuer, will make this service available to 1,000 select Barclaycard cardholders whose cards also carry the Visa cash electronic purse function," it said.

RRBs banks to remain open Saturday:

The Reserve Bank of India has said that all regional rural banks and cooperative banks will remain open for the whole day on February 27 (Saturday) to obviate the inconvenience caused to customers on accountof dislocation of banking services on February 25 and 26. "The departments of RBI having public dealings will remain open for the whole day on February 27, 1999 and normal clearing operations will take place on that day," said a RBI release issued on Friday