Weerasuriya is MasterCard VP: Kumar Weerasuriya has been appointed as MasterCard International's vice-president and business manager (Asia). Weerasuriya will report to MasterCard's senior vice-president and general manager south-East and south-Asia, J Sannon.

ICICI Bank opens branch: ICICI Bank opened its forty ninth branch in Aurangabad. The bank now has 57 officesspread over 14 states and 25 centres across the country, a press release said.

Syndicate Bank unveils `Rapidcol': Syndicate Bank has launched `Rapidcol' facility, a mode of collection facility through fax for outstation high-value cheques, drafts and other instruments with a face-value of Rs 10,000 and above. According to the bank's regional manager, KN Sujir, the objective behind launching `Rapidcol' facility was to cut down on the delay in collection of the outstanding instruments.

Reserve Bank repo mop-up: The Reserve Bank on Saturday mopped up Rs 123 crore through a four-day fixed rate repo in government of India dated securities for parties holding SGL and current account. The central bank received one application and accepted it. The interest rate for the four-day fixed-rate repo was pegged at 8 per cent.

RBI repos sale: Reserve Bank of India will hold a three-day 8 per cent fixed rate repos on February 22.

Vysya Bank Housing rating re-affirmed: Crisil has reaffirmedthe `Fa+' rating assigned to the fixed-deposit programme of Vysya Bank Housing Finance. It has also reaffirmed the rating assigned to the certificate of deposit programme of the bank. The rating reflects the bank's average capital adequacy and unfavourable capital composition, average asset quality and financial position. "The rating takes into account, the comfort derived from the support demonstrated by the government of India," a Crisil release said.

Nabard bonds to be repaid at par: The National Bank for Agriculture and Rural Development (Nabard) on Friday said that the outstanding balance of the 9.75 per cent Nabard bonds 1999 (5th series) will be repaid at par on March 17, 1999 and no interest would accrue thereon from that date. "To facilitate repayment on the due date, the holders of the above bonds may tender the bonds at the concerned public debt offices of the RBI on or after February 25," a Nabard press release said.

Disinvestment process seen confusing: The disinvestment processseems confusing and appears to be directed mainly towards containing budget deficit, chairman of the 11th finance commission, AM Khusro said in Delhi on Friday. "The disinvestment process appears confusing. Disinvestment for containing deficit is not the proper way for privatisation," Khusro said.

IDBI bonds to be traded on NSE: The National Stock Exchange (NSE) has decided to include four bonds of Industrial Development Bank of India (IDBI) under Flexibonds-5 for trading on the capital market segment of the exchange from Saturday. "The bonds which will be traded at NSE are IDBI infrastructure (tax saving) Bond, IDBI Growing Interest Bond, IDBI Multi-option Bond and IDBI Regular Income Bond," an NSE release issued on Friday said.

Ireda's tax-free bonds oversubscribed: The Indian Renewable Energy Development Agency Ltd (Ireda) Rs 50-crore tax-free bonds (Energy Bonds Series VI) has been oversubscribed. A Government of India undertaking, IREDA had sanctioned Rs 2,378.82 crore in loans as onend-December 1998 with disbursements at Rs 990.32 crore.