IDBI seminar on energy conservation: The Industrial Development Bank of India (IDBI) held a seminar on energy efficiency and environmental management in the fertiliser industry on Thursday at Mumbai. The keynote address was delivered by Fertiliser Association of India president P Sundaravadivelu. The inaugural address was made by IDBI executive director PVNarasimham.

Crisil downgrades DCW's NCD issue: The Credit Rating Information Services of India Ltd (Crisil) has downgraded the Rs 9.84-crore non-convertible debenture issue of DCW Ltd to A from AA-. The FAA- rating assigned to the company's fixed deposit programme has also been downgraded to FA+. The revision is on account of the continued downturn in DCW's key businesses -- poly-vinyl chloride and caustic soda -- resulting in a decline in the company's profitability.

Dena Bank plans own credit card: Dena Bank plans to come out with its own credit card shortly. The bank will, initially, issue only charge cards. The charge-card facility will be available only to the bank's account-holders. Card-holders will have to settle their bills immediately after each transaction. The cards will be issued in association with Visa but the bank expects to extend the membership to Mastercard later on.

Crisil reaffirms GSFC's fixed-deposit rating: Crisil has reaffirmed the FA rating assigned to GujaratState Financial Corporation's (GSFC) fixed-deposit programme. The rating factors in the improvement in collection efficiency and non-performing assets level of the corporation during 1996-97. It also takes into account GSFC's comfortable liquidity position and financial flexibility arising out of availability of traditional sources of funds and consistent revenue surplus. GSFC is primarily engaged in extending financial assistance to new and existing industrial units in the small-scale sector of Gujarat.

Indian Bank opens 55th branch in Bengal: Indian Bank has opened its 55th branch in West Bengal at Babudanga in Howrah district. The bank has a total of 149 branches under its Calcutta zone, covering West Bengal, Bihar, Orissa and the north-eastern states. Business worth Rs 1,800 crore is handled by these branches. The bank has deposits of Rs 13,701 crore and advances of Rs 7,141 crore. A few days earlier, the bank received Rs 1,760 crore from the centre as capital support.

Three banks to providesoft loans: Andhra Bank, Bank of Maharashtra and Punjab & Sind Bank have agreed to provide "soft loans" to buyers of solar water-heaters and cookers. An agreement to this effect was signed between the ministry of non-conventional energy and the three banks. Under the scheme, individual users as well as small users, such as nursing homes and restaurants, can obtain loans at an interest rate of 5 per cent per annum for the purchase of solar water-heaters.

Indian Overseas kicks off sale of hallmarked gold: Indian Overseas Bank launched the sale of hallmarked gold on consignment basis in Kochi last week. The bank plans to introduce gold-accumulation plans, gold deposits and gold-bond schemes in the domestic market. With this, IOB's sale of gold on consignment basis will be undertaken at all important centres in the country, according to a bank release. IOB's gold-banking wing began wholesale operations on November 20, 1997 at Chennai and Ahmedabad.

Befi opposes RBI notification: The BankEmployee's Federation of India (Befi) has opposed the Reserve Bank instruction to keep banks open for two full days on April 11 and 12 and would stage a demonstration in front of the RBI on Saturday. Terming the RBI notification as an "ill-advised and totally unwarranted action", the federation demanded an immediate revocation of the notification. The bank will soon offer its customers Internet-banking services. It also plans to form an independent subsidiary -- Madura Securities -- for satellite dealership in securities.