`Export finance up to 12% of total credit': Export finance has risen to 12 per cent of total bank credit, according to RBI chief general manager (export credit division) Khizer Ahmed. Ahmed was speaking at a seminar on "Financing of exports" organised jointly by the Indian Merchants' Chamber, ICC India and the Delhi Exporters' Association on Saturday. Ahmed said that the proportion of export credit extended by some of the leading commercial banks has risen to as high as 16-17 per cent.

RIL bonds oversubscribed: Reliance Industries Ltd's privately placed floating-rate bond was oversubscribed by 100 per cent. "The size of the issue, which was initially Rs 50 crore, was increased to Rs 100 crore on account of oversubscription," an RIL release stated.

Crisilassigns P1+ rating to BPL debt plan: Crisil has assigned a P1+ rating to the Rs 80-crore commercial paper programme of BPL Ltd. The rating reflects the favourable growth prospects for the consumer durable industry in the long term while factoring in the increasing competition from multinational companies and the consolidation of market position by BPL.

Crisil reaffirms Vardhman Polytex rating: Crisil has reaffirmed the double-A rating assigned to the Rs 71.21-crore non-convertible debenture programme of Vardhman Polytex Ltd. The rating reflects the company's strong market position in the cotton hosiery yarn business, its favourable raw material procurement process and an improvement in the financial performance.

Centurion Bank opens new branch: Centurion Bank has opened a new branch at Siliguri in Bengal. Siliguri has tremendous potential for economic growth, including international trade within the purview of SAARC. The branch, like all other branches of the bank across the country,will offer services like instant remittances, fast collection and fund management to the business community.

Three-day repos results: The RBI received five applications amounting to Rs 3,264 crore for the three-day 5 per cent fixed-rate repos held on June 22, 1998. The central bank accepted all the five applications in full.

Abhyudaya Co-operative opens new branch: Abhyudaya Co-operative Bank has opened a new branch at Koparkhairane in Navi Mumbai. The bank's deposits have increased to Rs 807 crore while advances have increased to Rs 377 crore. The working capital of the bank stands at Rs 1,019 crore while the paid-up capital is at Rs 11 crore.

Three-day repos today: RBI has announced a three-day fixed-rate repos in government of India securities on June 23, 1998, for parties holding SGL and current accounts with it at Mumbai. The repos rate is 5 per cent per annum. The applications may be accepted fully or partially. Payment by applicants will be on June 23, 1998, the repurchase bythe RBI on June 26, 1998.