Dena Bank bond issue oversubscribed: The recently concluded Dena Bank's bond issue series-II has received applications for a total of Rs 154.83 crore as against the targeted size of Rs 100 crore. The bank has retained the entire oversubscribed amount of Rs 54.83 crore as the issue had a greenshoe option of Rs 100 crore. The issue was made on a private placement basis and consisted of unsecured non-convertible redeemable subordinated bonds of Rs 1 lakh each at a coupon rate of 14.25 per cent.No RBI licence to Bank of Nations: The RBI has clarified that it has neither received any application nor has it granted any licence to any institution by the name of Bank of Nations Ltd to commence banking business. The proposed "multi-crore private sector bank" is holding a press conference on Friday in Mumbai. One Sardar Jaswant Singh Mann has reportedly written to various persons and authorities claiming himself to be the promoter of the Bank of Nation Ltd.
Foreign currency racket busted: Thepolice have busted a racket in sale and purchase of foreign currency without any valid licence and arrested two persons in this connection in the old city area of Hyderabad on Wednesday. The accused Gulam Ali Pasha (39) and Abdul Kareem (32) were arrested while making transactions at a place under Mirchowk police station limits. Police recovered several foreign currencies from the two worth Rs 1.5 lakh.
State Bank of Jaipur acquires flat: The State Bank of Jaipur and Bikaner was the sole bidder to acquire a flat at a properties auction of the income-tax department held recently. The flat, having a built up area of 1,015 sq ft in Venus Co-operative Housing Society at Worli seaface, was bought at the reserve price of Rs 1.3 crore.
Three-day fixed-rate repo: The RBI on Thursday said it will hold an eight per cent three-day fixed-rate government securities repurchase agreement on March 20. Applications must be submitted on Friday and payment made by 2.30 pm, the RBI stated. The repurchase by theRBI will take place on March 23.
`New government must support SSIs': Vijay G Kalanthiri, president, All India Association of Industries, has said that the new government under AB Vajpayee should take effective steps to support the small-scale sector and rationalise the duty structure which has adversely affected the growth of the domestic industry. He also said the new government should immediately address the problem of sickness facing the industry and the public sector to generate employment.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
