BOB Mutual Fund board meet: The board of trustees of BOB Mutual Fund will meet on November 17 to consider and adopt the half-yearly unaudited financial results of BOB ELSS '95 and BOB Growth '95, the two listed schemes of BOB Mutual Fund.

Nanda appointed Nabard ED: YC Nanda, the senior most executive director of Nabard, has been appointed managing director ofthe apex agricultural bank. Nanda is appointed in place of PVA Rama Rao, the previous managing director, who retired from service on Oct 31, 1998. However, there has been no official intimation as yet about the appointment of a chairman for Nabard, which has been without one for a record-setting period of six months ever since P Kotaiah, the earlier chairman, retired on May 31 this year. Nanda, who has been executive director since 1995, has five years to go before he retires on June 30, 2003.

LIC Housing net up 17 per cent: LIC Housing has posted a net profit of R 36.81 crore for the first half year ending September 30 which represents a 17.19 per cent growth over the corresponding period in the previous year. The company has posted 14.98 per cent growth in profit before tax which increased to Rs 48.36 crore, from Rs 42.06 crore recorded in the corresponding period last year. During the first half of the year, LIC Housing sanctioned loans to the tune of Rs 492.82 crore.

Apple Finance net at Rs5.25 cr: Apple Finance Ltd has posted a net profit of Rs 5.25 crore during the third quarter ended September 30, 1998, up from the net profit of Rs 2.68 crore recorded during the corresponding period in the previous year. The NBFC's income from operations stood at Rs 40.96 crore, little changed from the corresponding period's figure of Rs 40.66 crore. Apple Finance managed to reduce its expenses by nearly 25 per cent during this period.

Finance firms denied NBFC status: The RBI has rejected the application for certificate of registration submitted by Baroda Agro Industries of Baroda, Annad Credit Ltd of Ahmedabad, Ganapati Securities Consultancy of Mumbai and Swarup Leasing Ltd of New Delhi in exercise of the powers submitted under Section 45 1A of the Reserve Bank of India Act, 1934.

NBFC barred from accepting deposits: RBI has rejected the application submitted by the Koduvayur Co-operative Urban Bank Ltd, a Palakkad-based bank, from carrying on banking business. The bank is precludedfrom transacting the business of banking as defined in the Banking Regulation Act, 1949, and it will not be in order for it, among other things, to accept deposits from the public and allow withdrawals by cheque, draft order orotherwise.

NBFC status denied: RBI has rejected the application for certificate of registration submitted by Shagun Leasing Ltd, 1196 Napier Town, Jabalpur. The company cannot transact the business of a non-banking financial institution as defined in Clause (A) of section 45 of the Reserve Bank of India Act, 1934.

Automobile Corporation downgraded: Crisil has downgraded the Rs 6.06 crore non-convertible portion of the partly-convertible debenture (PCD) issue of Automobile Corporation of Goa Ltd (ACGL) to A- from A. The revised rating reflects the risk arising out of a high level of dependence on Tata Engineering & Locomotive Company Ltd (Telco), the largest player in the commercial vehicle segment and the present recession in this segment.