The mid-term monetary and credit review by the Reserve Bank of India for 1999-2000 will be announced on October 29. Corporation Bank board meetCorporation Bank has scheduled to hold its next board meeting on October 26 at Bangalore to consider the audited financial results for the half year ended September 30, 1999. Corporation Bank is open of the very few banks which is getting its accounts audited at half yearly intervals.

PNB's NPA target

The public sector Punjab National Bank has set a target to reduce its non-performing assets (NPA) from 9 per cent to less than 6 per cent during the current financial year. PNB general manager PS Asthana said "The gross NPAs of the bank in the Delhi circle have gone upto Rs 1,000 crore. We have set a target to recover about Rs 200 crore by March 2000 Rs 50 crore has already been recovered upto September 30 this year," PNB general manager PS Asthana said on Thursday.

Repos window dry

No bids were received in the fixed rate repos held on Thursday by the Reserve Bank of India.

Tisco's private placement

Tisco has completed a private placement of Rs 150 crores `AA+' rated taxable debentures through the book building route. Tisco offered the bonds in the range of 12.50-12.70 per cent Payable annually for an average tenor of 7 years. The issue of Rs 150 crores attracted bids in excess of Rs 280 crores. Tisco closed the book at 12.60 per cent.

Icra ratings

Icra has downgraded the FD programme of Hero Financial Services Ltd from `MA-' to `MA'.