Three-day repos today: The Reserve Bank has announced three-day 8 per cent fixed-rate repos on December 15 for parties holding SGL and current accounts with it in Mumbai.

14-, 91-day T-bills auction: The Reserve Bank has announced the auction of 91- and 14-day treasury bills for notified amounts of Rs 400 crore and Rs 100 crore respectively on December 18. The auction will be conducted using the uniform price auction method, an RBI releasestated.

Lions Mutual barred from accepting deposits: The RBI has prohibited Lucknow-based Lions Mutual Benefits from accepting deposits with effect from December 11 and also prohibited the company from accepting deposits from the existing depositors, certificate holders, in any form, whether by way of fresh deposits or renewal or otherwise. The RBI has also directed the company not to sell, transfer, create charge or mortgage or deal in any manner with its property and assets without prior written permission of the bank except for repayment of deposits for a period of six months from Monday.

Nandy Investments registration plea rejected: The Reserve Bank on December 11 rejected the NBFC registration application of New Delhi-based Nandy Investments Ltd under Section 45 of the RBI Act. "As such the company cannot transact the business of a non-banking financial institution as defined under clause (a) of section 45 IA of the RBI Act," said an RBI release.

Three-day repos today: The ReserveBank three-day 8 per cent fixed-rate repos held on December 14 received two applications worth Rs 49 crore. Both the applications were accepted, an RBI press release stated.

Escorts debt plans put on rating watch: Crisil has put four outstanding debt programmes of Escorts Ltd on rating watch with developing implications following the continuing labour strike at Escorts group. The debt programmes include the Rs 30-crore NCD issue, Rs 102-crore NCD/secured promissory notes, Rs 36.72-crore NCD issue and Rs 100-crore commercial paper programme. While the first three has A+ rating, the CP programme has the highest rating of P1+ rating. The P1+ rated Rs 120-crore CP programme of the group company, Escorts JCB Ltd has also been placed under rating watch for the same reasons. "Crisil is in dialogue with the management and would make a detailed assessment of this development on the credit profile of the rated instruments and will announce a final view on the outstanding ratings shortly," a press releasestated.

JB Chemicals debt plan assigned P1+ rating: Crisil has assigned the highest rating of P1+ to the commercial paper programme of JB Chemicals and Pharmaceuticals Ltd. "The rating reflects the company's strengths by virtue of its strong brands in selected segments in the domestic formulations market an its comfortable financial position in terms of low gearing levels. These factors currently offset the uncertainties related to the company's exports to Russia," a Crisil release stated.

Apple Credit launches card in Mangalore: Apple Credit Corporation has launched Apple Privilege Card in Mangalore. The company plans to extend the scheme to all its branches across south India within the next six months. The card entitles card members to avail of attractive discounts on their purchases from the list of outlets that are participating in the scheme.

Icra downgrades Mafatlal Finance debt plan: Icra has downgraded Mafatlal Finance Company's fixed deposit programme from MA+ to MC. "Therating indicates risk prone. The susceptibility to default is high. Adverse changes in business/economic conditions could result in inability/unwillingness to service debts on time and as per terms," an Icra release stated.