MHFC reduces interest rates
Maharishi Housing Finance Corporation has reduced interest on its fixed deposit schemes by 100 basis points with immediate effect, said a company release issued recently. The company has also introduced three new depositors schemes -- an annual income plan, an 18-month deposit scheme and a double money option scheme.

ICICI Bank receives award
ICICI Bank has received the `best fund sourcing programme award' from the Asian Bankers Association. "The award was received in recognition of ICICI bank's success in raising $ 142 million for the Resurgent India Bond issue," said a bank release issuedon Tuesday.

Crisil ratings
Crisil has reaffirmed the ratings assigned a `p1' and `faaa' rating to the commercial paper programme and fixed deposits programme of Oriental Bank of Commerce (OBC). "The ratings reflects OBC's comfortable capital adequacy, relatively better asset quality demonstrated by lower NPA levels as compared to the overall banking sector, strong deposits growth and above average profitability," said a company release.

J&K bank becomes Y2K ready
Jammu and Kashmir Bank has complied with the RBI guideline for becoming Y2K compliant by March 31. According to a bank release, the bank is shortly extending tele banking facilities in all its major metro branches

Bobcards launches scheme
Bobcards Ltd has launched a new scheme to enable its cardholders to purchase large value consumer durables. "Under the scheme, holders of Bobcard silver, Bobcard gold and Bobcard global will be offered special credit limits upto a maximum of Rs 50,000 over and above their normalcredit limits to enable them to purchase large value consumer durables," said a bank release.