The Indian Banks Association (IBA) will hold a meeting with representatives of United Forum of Bank Unions (UFBU) this week to clear the hurdles for implementing the wage agreement signed in March.

RBI rejects Kanwal applications

Reserve Bank of India (RBI) has rejected the applications for grant of certificates of registration submitted by the West Bengal-based financial companies, Acceptable Finvest Company and Kanwal Financiers of Chandigarh.

Honda Siel CP plan assigned `A1+'

Icra has assigned `A1+' rating to the Rs 25-crore CP programme of Honda Siel Cars India Ltd (HSCIL) indicating highest safety. The rating takes into account the support of the parent Honda Motor Company of Japan, fin.ancial flexibility on account of un-drawn sanctioned loans and the market position of HSCIL.

StanChart milestone

Standard Chartered global card member base has crossed 1,00,000 mark within two months of launch. A bank release said that thiscard member base comprises new applicants and existing Standard Chartered card members. The bank has achieved a compounded annual growth rate of 35 per cent -- between 1996 and 1998, the release added.

ILFS debt plan gets `AAA' rating

The rating agency, Care, has assigned a `Care AAA' rating to Infrastructure Leasing and Finance Ltd's (ILFS) Rs 100 crore redeemable preference share and its medium and long-term instruments (Rs 700 crore NCDs).