New Rs 100 notes: The RBI will shortly issue Rs 100 notes in the Mahatma Gandhi series bearing the signature of RBI governor Bimal Jalan. Apart from these changes, the design of the new Rs 100 notes will be similar to those issued earlier in the Mahatma Gandhi Series. All Rs 100 denomination notes issued by the bank in the past will continue to be legal tender, an RBI release issued on Wednesday stated.

Icra reaffirms Jayabharat Credit debt rating: Icra has reaffirmed the MA rating assigned to the fixed deposit programme of Jayabharat Credit Ltd, indicating adequate safety. The finance company has a networth of Rs 14.22 crore and a hire-purchase and lease assets base of Rs 40.61 crore. The company is a dominantplayer in the truck, car, construction equipment and industrial finance business.

RBI rejects Avia Finance registration: The RBI has rejected the application for certificate of registration submitted by Avia Finance & Investments Pvt Ltd, a Mumbai-based finance company. "As such, the company cannot carry out the business of a non-banking financial institution," an RBI release issued recently stated.

New Royal Prompt Investments registration rejected: The RBI has rejected the application for certificate of registration submitted by New Royal Prompt Investments & Leasing Ltd, a Jabalpur-based finance company. As such, the company cannot transact the business of a non-banking financial institution.

ICICI Bank opens branch at Madhapur: ICICI Bank opened its 38th branch at Hi-Tech City, Madhapur, in Andhra Pradesh recently. The new branch will provide ATM and Internet banking facility. The branch gives ATM cards free of charge for its savings account holders which can be used to operatethe account from any of the bank's ATM centres across India. The branch will also offer banking products and services like savings, current, recurring, fixed deposit accounts and remittances.

Crisil reaffirms Kirloskar Brothers debt rating: Crisil has reaffirmed the FA rating assigned to the fixed deposit programme of Kirloskar Brothers Ltd. The rating reflects the company's dominant position in the industrial and agricultural pumps markets with a strong brand equity in the business. "Partially offsetting these are factors like intense competition in the agricultural and domestic pump markets, low margins in its businesses and working capital intensive operations with low liquidity," a Crisil release issued recently stated.

Crisil reaffirms Karnataka Bank debt rating: Crisil has reaffirmed the P1 rating assigned to the certificate of deposit programme of Karnataka Bank. The rating reflects the bank's comfortable capital adequacy and steady improvement in profitability. "The rating alsofactors in the bank's relatively small deposit base and regional nature of operations," a Crisil release stated.

TTK Prestige debt assigned P1 rating: Crisil has assigned a P1 rating to the Rs 10-crore commercial paper of TTK Prestige Ltd. The rating reflects the stable industry prospects for the pressure cooker industry, the company's strong market position, the efficiencies of the company's operations and the moderate financial risk profile. "The rating is limited by concerns regarding labour problems faced by the company in the past and the working capital intensity of operations," a Crisil release issued recently stated.

Grade-V rating for Accord Plantation scheme: Crisil has assigned a Grade-V rating to the collective investment scheme of Accord Plantation Ltd. The rating indicates high uncertainty that the collective investment scheme will provide the assured returns in the form of produce and/or cash. Crisil said that the rating reflects the adverse overall risk profile of the companyon account of the nascent stage of operations, small size, likely dependence on investors funds to meet its operational requirements and repayment obligations over the medium term, high financial risk on account of low capitalisation level and a high cost of raising deposits.

Duff and Phelps rates Ideal Financing debt: Duff and Phelps has assigned an Ind BBB- rating to the fixed deposit programme of Ideal Financing Corporation. The rating indicates that the protection factors are considered sufficient for investment. "The risk to the rating emanates from the company's ability to step up its recovery mechanism and keep the NPA levels within manageable limits," a company release issued on Wednesday stated.

Paragon Finlease scheme receives Ind 5 rating: Duff and Phelps has assigned an Ind 5 rating to the collective investment scheme of Paragon Finlease Agro Forest. The rating indicates non-investment grade and poor ability of the company to meet stated obligations to the investors on time. "Thescheme can be expected to default on its stated obligations," a company release issued on Wednesday stated.