LIC launches metro area network at Bangalore:LIC launched its metro area network in Bangalore last week which will enable the corporation to connect 27 branches in Bangalore with its two divisional offices. LIC has also launched a voice-response system for the benefit of policy holders which would enable them to access data on their policies.

Syndicate Bank farmers scheme: Syndicate Bank, under the ``Akshaya Krishi Dhana Yojana'' which was introduced two years ago, has provided credit of Rs 2 crore to over 1,000 farmers. This scheme was evolved out of the flexible cash credit facility for farmers called ``Crop OverdraftScheme,'' under which credit to the tune of Rs 200 crore has been availed of by 1.5 lakh farmers over the past 28 years.

CARE retains Model Financial debt rating:CARE has retained the double-B+ rating assigned to the fixed deposit programme of Model Financial Corporation for a lower limit of Rs 12.10 crore. The collection efficiency of the company during the year continued to be poor while gearing remained high. CARE has said that the prolonged sluggishness in the economy coupled with the difficult scenario for finance companies could further affect the company's business prospects, asset quality, profitability and liquidity in the short to medium term.

CARE reaffirms Deepika Leasing rating: CARE has reaffirmed the triple-B rating assigned to the on-going fixed deposit programme of Deepika Leasing & Finance for a lower limit of Rs 3 crore. The company is primarily engaged in leasing and hire-purchase financing of computers and peripherals, vehicles machinery and consumer durables andshort-term lending activities.

CARE reaffirms DFL Finance rating: CARE has reaffirmed the triple-B rating assigned to the on-going fixed deposit programme of DFL Finance Ltd for a lower limit of Rs 3 crore. Leasing and hire-purchase financing of commercial vehicles remains DFL's primary activities. The factors that have been considered while reaffirming the rating include the growth in operational income, profit after tax in 1997-98 and the comfortable recovery performance during the year.

Icra downgrades BPL Sanyo debt rating: Icra has downgraded the rating assigned to the fixed deposit programme of BPL Sanyo Technologies to MA from MA+. The revised rating indicates adequate safety. The downgrade takes into account the increased competition in the market from multinationals, resulting in stringent turnover and decline in the company's profits.

Nabard Bonds 1998: The outstanding balance of the 9.75 per cent Nabard Bonds 1998 (IV Series) is repayable at par on November 21, 1998, andno interest will accrue thereupon from the date. To facilitate repayment on the due date, the bond holders may tender the bonds at the public debt offices of the Reserve Bank of India on November 2, 1998, a press release stated.

IT&T to provide ATM services to TimesBank: IT&T will provide single-point services to ATM points of TimesBank on a continuous basis. This is a country-wide project and will cover all TimesBank ATM outlets throughout India. IT&T plans to introduce a whole new package of facilities management services designed primarily for the banking and investment industry and intends to become the number one player in providing ATM and banking peripheral services.