Three-day repos results: The RBI on Thurday mopped up Rs 2,050 crore through three-day 5 per cent fixed-rate repos in Government of India dated securities for parties holding SGL and current accounts. The central bank received two applications and accepted both of them.

Three-day repos today: The RBI has announced three-day fixed-rate repos in Government of India dated securities on July 17, 1998, for parties holding SGL and current accounts. The interest rate for the repos is pegged at 5 per cent. Payment by application will be made on July 17 and repurchase by the RBI on July 20.

Bank of India board meet: Bank of India board of directors will meet in New Delhi on July29, 1998, to consider and take on record the unaudited financial results of the bank for the quarter ended June 30, 1998.

IBA, Ficci to set up working group: The IBA has decided to set up a working group with Ficci to discuss various problems faced by the two entities and find a workable solution. "IBA chairman AT Pannir Selvam told the industrial community could approach the IBA directly with their problems relating to the banking issues instead of first going to the RBI," a Ficci release stated.

Tamil Nadu attaches properties of fraudulent finance firms: The Tamil Nadu government has attached property worth Rs 45.6 crore belonging to finance companies which had defrauded depositors, said Aladi Aruna, state law minister, in Chennai on Thursday. "Property worth Rs 114.65 crore had been identified as belonging to these companies," he said. The government had decided to appoint two more prosecutors for speedy disposal of the cases against fradulent companies.

Crisil assigns double-Arating to Coates India debt: Crisil has assigned a double-A rating to the Rs 10-crore non-convertible debenture programme of Coates India Ltd. The rating reflects Crisil's comfort on Coates' strong market position in the printing inks industry, its improving operating efficiency and its favourable capital structure. The rating is also supported by the company's sustained strong relationship with its parent -- Coates Brothers plc -- a subsidiary of TOTAL, France.

Crisil reaffirms Fisher-Rosemount debt rating: Crisil has reaffirmed the P1 rating assigned to the Rs 5-crore commercial paper programme of Fisher-Rosemount (India) Ltd. The rating is based on the company's market position in the instrumentation segment, especially measurement devices, product support from its overseas principal and the company's strong sales and service network. These factors are partially offset by the general recession in the economy which has led to a decline in the company's business and a reduction in turnover,thus diminishing its overall profitability.

Icra assigns LA rating to Khaitan Chemicals debentures: Icra has assigned an LA rating to the Rs 5-crore non-convertible debenture programme of Khaitan Chemicals & Fertilisers, indicating adequate safety. The company is engaged in the manufacture of single super phosphate fertiliser and sulphuric acid. The company enjoys competitive advantage due to proximity to its markets and source of its main raw material, rock phosphate, which has enabled it to sell increased quantities in a competitive market.

Icra assigns CS5 rating to Assured Agro Park schemes: Icra has assigned a CS5 rating to the Panchvati collective investment schemes of Assured Agro Park Ltd. The rating indicates high risk. Schemes rated CS5 are considered as having very high risks and are exteremely speculative.