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14-day treasury bills auction: The RBI on Tuesday announced the auction of its 14-day Government of India treasury bills for a notified amount of Rs 500 crore. Tenders should be submitted in the prescribed form on Friday and payment will be made on Saturday.
91-day treasury bills auction: The RBI on Tuesday announced the auction of the 91-day Government of India treasury bills for a notified amount of Rs 500 crore. Tenders should be submitted in the prescribed form on Friday. Payment by successful bidders will be on Saturday.
September 18 bank strike called off: The proposed all India bank strike by United Forum of Bank Unions on September 18 has been called off following an agreement reached with the Indian Banks Association on Tuesday. ``The unions demanded commencement of negotiations over their charter of demands, including expediting the comprehensive industry level wage settlement without any pre-conditions. Both the parties agreed to start negotiations with an open mind to comeat an amicable settlement,'' an IBA statement stated.
Three-day repos today: The RBI on Tuesday announced three-day 8 per cent fixed-rate repos in Government of India dated securities on September 9 for parties holding SGL and current accounts. Payment by application will be on September 9 and repurchase by the RBI on September 12.
Three-day repos results: The RBI on Wednesday mopped up Rs 1,400 crore through three-day 8 per cent fixed-rate repos in Government of India dated securities for parties holding SGL and current accounts. The central bank received only one application and accepted it.
Crisil downgrades Integra Capital debt plan: Crisil has downgraded the fixed deposit programme of Integra Capital Management to FB+ from FA-. "The revised rating reflects the increase in the overall risk profile of the company on account of pressure on spread, decline in profitability and limited financial flexibility of the company," a company release stated. "The rating factors in therelatively small size of the company and limited business prospects in the changed environment," it added.
Crisil downgrades Punjab Wireless debentures: Crisil has downgraded the Rs 100 crore non-convertible debenture programme of Punjab Wireless Systems to BBB from A+. It has also downgraded the company's fixed deposit programme to FA- from FA+. "The rating reflects the stretched financial position of the company consequent to its substantial exposure in subsidiaries," a Crisil release stated.
Crisil downgrades Sicom debt plan: Crisil has downgraded the fixed deposit programme of Sicom Ltd to FAA-from FAA+. It has also assigned a P1+ rating to the company's Rs 50 crore commercial paper programme. The Rs 100 crore non-convertible debenture issue of the company is being downgraded to A+ from AA. "The revised rating reflects the declining collection efficiencies on the direct loan portfolio and depreciation in the value of equity investment portfolio," a Crisil release stated.
Copyright© 1998 Indian Express Newspapers (Bombay) Ltd.
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