Tuesday, June 16, 1998
NSE floats benchmark rates for call market
The National Stock Exchange today launched the NSE Mibor and NSE Mibid, which will be benchmark rates for the inter-bank call markets. NSE Mibor will be the Mumbai inter-bank offer quote while Mibid is the bid quote.The NSE Mibor for today was pegged at 5.25% while the Mibid was 5.10% with a standard deviation of 0.03%.
ICICI Bank launches call-linked short-term deposit scheme
ICICI Banking Corporation has recently launched a call-linked short term deposit scheme," Quantum Corporate", which comes with a minimum subscription amount of Rs 1 crore and thereafter in multiples of Rs 25 lakh. The scheme, a floating rate term-deposit with a minimum maturity of 15 days and a maximum tenure of 29 days, is the shortest-ever deposit to offer a floating rate.
GE Capital to mop up Rs 25 cr via private placement of NCDs
GE Capital Services (India) is privately placing a Rs 25 crore non-convertible debentures (NCD) with a green-shoe option of Rs 50 crore. The issue which opened on June 13 will close on July 13. The company plans to list the debenture on the National Stock Exchange shortly. The face-value of the non-convertible debenture is Rs 1 lakh.
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