MUMBAI, December 23: The Industrial Credit and Investment Corporation of India (ICICI) has managed to mop up Rs 300 crore in the retail bonds issues that closed on Tuesday. According to ICICI officials, the public issue received over one lakh applications from retail investors. The issue was kept open from December 5 to 23. During this period, the term lending institution raised over Rs 800 crore from wholesale investors through the private placement window.

RBI mops up Rs 10 cr via 3-day fixed-rate repo: The RBI has mopped up Rs 10 crore through a three-day fixed-rate repo instrument. The interest rate was pegged at 7 per cent. The bank received only one application which was accepted.

RBI announces 14-day T-bills auction: The RBI has announced the auction of 14-day T-bills. Tenders must be be submitted in the prescribed form on Friday and the result will be announced the same day, an RBI release said. Payment by successful bidders will be on Saturday.

United Western Bank, NSDL pact: The United Western Bank signed an agreement with the National Securities Depository Ltd (NSDL) for dematerialisation of its equity shares. The Satara-based private sector bank has also paid a one-time custody charge to NSDL which will facilitate dematerialisation of the bank's shares at a faster pace. The bank's depository services department has been set up in Pune for the investors benefit. The depository services department will become operational in the fortnight.

Duff & Phelps ratings: Duff & Phelps Credit rating India Pvt Ltd has downgraded the fixed deposit programme of Jenson & Nicholson Financial Services Ltd (JNFSL) to Ind BBB+. The revised rating has also been put under rating watch. Jenson & Nicholson Financial Services Ltd is a financial services company with operations focused on eastern India. It recently changed its focus from primarily funding corporates for plant and machinery to retail financing. Duff & Phelps has assigned an Ind D1+ rating to the Rs eight crore commercial paper programme of AFT Industries Ltd and an Ind A rating to the fixed deposit programme of Apeejay Finance Group Ltd.

SBI donation: State Bank of India (SBI) has donated Rs 8,14,500 to Vidya Bhavan for settin up a modern computer centre. The bank expressed happiness in helping Viddya Bhavan which is engaged in a the task of providing education, a SBI release said.

Maharashtra State Co-op bank election: The Maharashtra State Cooperative Bank has re-elected Vishnuanna Patil as the chairman and Subhashrao Dhote as the vice chairman of the bank.

I-T summons to banks, finance firms: The Income-Tax department (Mumbai) has served summons to some 25 leading banks and a couple of finance companies following the multi-crore bogus depreciation scandal unearthed by it last week. The department has asked the banks and financial companies to explain certain transactions shown in their books of accounts following raids on REPL Engineering, optic fibre and TV cables.

Andhra Bank to tap capital market: Andhra Bank is all set to enter the capital market with its maiden public issue next year. The quantum of the public issue and other related matters will be finalised after the closure of the current financial year.

Federal Bank plans exchange management contract in Dubai: Federal Bank plans to take up an exchange management contract in Dubai to handle the remittances of a wide base of non-resident Indians in west Asia. The bank is awaiting the RBI approval. PNB postpones public issue: Punjab National Bank (PNB) has decided to postpone the launch of its Rs 550-crore public issue to July 1998, as against earlier plans of making the offer by the end of January. The bank has received the governments nod to restructure its capital base by returning capital of Rs 138.33 crore to the government.

HDFC Bank asked to reveal deals under VDIS: HDFC Bank, Tata Finance, Federal Bank and Madurai Bank are among the 23 financial entities that have been asked by the income tax authorities to declare their leasing deals under the voluntary disclosure of income scheme (VDIS) in the wake of a multi-crore bogus depreciation scandal unearthed by the department last week. The department had served summons to these companies under section 131 of the income tax act, 1961, on December 19 to explain certain transactions shown in their books of account following raids on REPLL Engineering Ltd, a manufacturer of energy saving devices, optical fibre and TV cables, as alleged bogus depreciation claims to the tune of over Rs 114 crore, were unearthed.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.