Union Bank ratings reaffirmed: Crisil has reaffirmed the `FAAA' rating for UBI's fixed deposit and the `P1+' rating for its certificate of deposit programme. These ratings reflect the strong resources and market position of the bank, coupled with its regional diversity and profitable operations, a press release issued by the rating agency said.

PNB rating downgraded: Crisil hasdowngraded the rating assigned to the fixed deposit programme of PNB Capital Services `FA-' from `FA'. "The revised rating reflects the deterioration in business profile on account of the discontinuation of fresh fund based activities and decline in asset quality signified by increasing debtor levels," said a Crisil release issued on Friday. "The rating also takes into account the increasing financial risk profile due to diminishing income streams coupled with high interest costs on borrowings and significant repayment liabilities in the short to medium term," it said.

Central Bank revises deposit rates: The Central Bank of India has revised its domestic, NRE and NRNR term deposit rates with effect from March 12. As the revised rate structure, the bank is offering 5 per cent for a maturity period of 15-29 days, 6 per cent on 30-45 days, 6.5 per cent on 46-90 days, 7 per cent on 91-179 days, 8 per cent on 180 days to one year, 9.5 per cent over one year to three years and 10.5 per cent above 3 years.Meanwhile interest on NRE deposit for six months to less than one year is pegged at 7.5 per cent, one year and above three years at 10 per cent and over three years at 10.5 per cent. Interest on NRNR term deposit for six month to less than one year is pegged at 10 per cent and above three years at 11 per cent.

Domestic term deposits revised: Catholic Syrian Bank has revised interest on its domestic term deposits for a maturity period of 46-90 days from 8.50 per cent to 9.75 per cent per annum with effect from March 15. "All the other rates for bulk deposit remains the same," said a bank release issued recently.

Crisil downgrades PCD programme: Crisil has downgraded the rating assigned to the Rs 90 crore partially convertible debenture programme assigned of J K Pharmachem from `C' to `D'. The revision in rating indicates that the instrument was either in default or was expected to default on maturity, the rating agency said.

RBI announces four-day repo: The Reserve bank of India onSaturday announced a four-day fixed rate repo in government of India dated securities for parties holding SGL and current account. The interest rate is pegged at 6 per cent. Payment by application will be on March 13, 1999 and repurchase by RBI on March 17, 1999.