RBI sets cut-off price for 182-day T-bills
The Reserve Bank of India said on Wednesday that it had set a cut-off price of Rs 95.29 at its two-weekly auction of 182-day treasury bills compared with the previous auction's Rs 95.34. Dealers said the yield had risen to 9.91 per cent against 9.80 per cent at the previous auction. RBI said it received 13 competitive bids for Rs 124 crore at the auction. It accepted 10 competitive bids for the notified Rs 100 crore, yielding a partial allotment of 21.21 per cent on two bids.CanBank schemes
Canara Bank has introduced two new schemes for servicing non-resident Indian accounts in Mumbai. The schemes are Canbank NRI mail desk and Canbank-Online Info Services. The NRI mail desk is a communication channel between the NRIs and their relatives in Mumbai, while Info service will enable them to get information on such schemes.
No privatisation, says UBI chief
United Bank of India chairman Biswajit Chowdhury on Wednesday ruled out any privatisation move in the bank and promised to improve its financial position further by March 2000. Chowdhury said that though there was a government proposal to reduce its financial stake in the nationalised banks to 26 per cent from the present 51 per cent to allow private operators to come, the move was yet to take any concrete shape.
IDBI Bank unviels off-site ATMs
IDBI Bank has launched its first online off-site ATM at CBD-Belapur. The facility offers on-line cash withdrawals, mini statement of account and balance of enquiry.
Repo window dry
The RBI has not received any bids for the 3-day 6 per cent fixed rate repos, held on Wednesday.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.