HDFC Bank CD bags PR+ rating
CARE has reaffirmed the "PR1+" rating to the certificate of deposit issue of HDFC Bank. This is the highest rating for short term instrument, a CARE release said. The rating reflects the focus of HDFC Bank on the top-end of the credit spectrum, CARE said.

Icra upgrades Gujarat Financial FD
Icra has upgraded the rating for the fixed deposit programme of Gujarat State Financial Services Limited (GSFS) from `MA+' to `MAA'. The revised rating indicates high safety.

IDBI Bank mulls Internet banking
IDBI Bank, a joint venture of IDBI and SIDBI, will soon introduce Internet banking in the country, according chairman MS Verma. He said other schemes being launched in the next three months were web enabled ATMs and smart cards.

Peerless plans insurance foray
Peerless General Finance and Investment Co, the 67-year-old leading residuary non-banking company (RNBC) now plans to enter into insurance business in a big way. Managing director SK Roy said, "We are one of the leading NBFCs and are well-equipped to enter the insurance business". He said a final decision to jump into the business will be taken later.

IFCI debt downgraded
Japanese Credit Rating Agency has downgraded the foreign currency long term senior debt of IFCI from `BBB' to `BBB-'.

Allianz premium income up 16%
The Allianz group has posted a 16 per cent growth in premium income at 39.6 billion euros during the first nine months of 1999 compared with the corresponding period last year.