364-day cut-off yield slashed by 10 bps
The Reserve Bank of India (RBI) on Wednesday slashed the cut-off yield of 364-day treasury bills by 10 basis points to 10 per cent. The central bnak received 41 bids worth Rs 1325 crore out of which it accepted 13 bids worth Rs 500 crore. Partial allotment percentage was 12 for five bids.J&K Bank records 32% growth
The Jammu and Kashmir Bank recorded a 32 per cent growth in deposits for 1998-99 to Rs 6,450 crore and a 33 per cent in advances to Rs 2,862 crore. The bank's investments stood at Rs 2,966 crore showing a growth of around 43 per cent as compared to Rs 2,060 crore last year. In the forex front, the bank has grown by 105 per cent the release said.
State Bank of Hyderabad's 57th year
The State Bank of Hyderabad has completed 57 years of services. The bank's deposits have exceeded Rs 10,000 crores. The bank has about 900 branches with a workforce of more than 14,000 employees.
3-day Repo
The RBI on Wednesday moppedup Rs 6535 crore through its 3-day repo in Government of India dated securities for parties holding sgl and current account. The interest rate was pegged at 6 per cent. Central bank received 11 applications and accepted all of them.
StanChart's new credit officer
Chris Anthony Babicci has joined StanChart as senior credit officer with effect from March 15. Babicci will head credit risk analysis and corporate and institutional banking divisions of the bank. Earlier he was with ANZ Grindlays Banking Group Ltd as its deputy general manager in Colombo, Sri Lanka.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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