Global Trust Bank has opened a new branch at Kottayam. "The branch will go a long way in promoting retail banking, which has become the major focus of the bank during the current year," a bank release stated.

Mandvi Coop Bank offers new scheme:

Mandvi Co-operative Bank has launched a new product called the flexi-recurring monthly deposit scheme, with an advantage of no TDS. The scheme is different from that of the normal recurring deposit wherein a depositor has to deposit a fixed sum every month. Under the new scheme, depositors can withdraw a maximum of 85 per cent of the total deposit amount in the case of an emergency, by paying a nominal 2 per cent extra interest.

Citibank launches commumity programme:

Citibank India has announced the launch of the Citibank Community Support Programme in Calcutta in partnership with Sarba Shanti Udyog. This programme reinforces Citibank's commitment to assist NGOs that empower under-privileged womenthrough microcredit. There are four components of the Citibank Community Support Programme, which includes employee volunteerism, technology transfer, cause-related activities and direct funding.

Jardine Fleming appoints director:

Jardine Fleming has appointed R Srinivasan as resident director and head of its New Delhi office. Srinivasan will be responsible for Jardine Fleming's activities in New Delhi and northern India.

Boots plans new investments in India

The $8 billion British pharmaceutical major Boots is planning new investments in India. The company already has a joint venture with Nicholas Piramal India (NPIL). The tie-up between Boots and NPIL to set up the new venture is worth Rs 50 million, with the British pharmaceutical firm picking up a 51 per cent stake and NPIL the balance.

Shaw Wallace beer sales up:

Shaw Wallace and Company has reported a growth of 50 per cent in its beer business while the IMFL segment has registered a 17 per cent increase in sales for theyear-ended June 30, 1998. Beer sales grew from 8.8 million cases in 1996-97 to 13.2 million cases during the year, while the volume of IMFL segment sales increased from 7.6 million cases to 8.9 million cases.

Reliance unveils hospital:

Reliance Industries on Thursday opened its 82-bed state-of-the-art hospital at Lodhivali, near Patalganga. The hospital is dedicated to providing free, round-the-clock trauma care like stabilisation to accident victims on the accident prone Mumbai-Pune highway. Inaugurating the hospital, RIL's chairman and managing director Dhirubhai Ambani said that this is one of the several steps in pursuit of Reliance's commitment to safety and care of workers and welfare of the people in the neighbourhood.

TCS opens office in Canada:

Tata Consultancy Service (TCS) has opened its first office in Canada. The company, which has already worked with Canadian firms for a decade, plans to open half a dozen offices in this country in the near future. TCS, formed in 1968 withits core competence being information technology and business consulting, is one of over 80 Tata companies which claim to have a turnover of US $10 billion.