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Monday, March 29, 1999

Financial Briefing 

FE NEWS SERVICE  
Hudco offers loans assistance to KEB: The Housing and Urban Development Corporation (Hudco) has agreed to extend a loan assistance worth Rs 650 crore to Karnataka electricity board (KEB) for power infrastructure development in the state. A cheque worth Rs 150 crore was given by Hudco chairman and managing director, V Suresh on Saturday. Chief minister JH Patel said that the 600 mw of power has been added to the state grid this year. "The Hudco assistance would be used for system improvement," he said.

Crisil assigns P1 to DuPont: Crisil has assigned a `P1' rating to Rs 45 crore commercial paper programme of E I DuPont India Ltd. Dupont is one of the leading global chemical producer and its key business attributes include broad product and geographic mix, superior technology and significant geographic diversity.

Corporation Bank new ED: Madhukar Ranganath Umarji has taken over as executive director of Corporation Bank. He has served the banking industry for a period of 26 years.Before joining the bank he was working in Dena Bank as general manager (operations).

Garware gets `FAA-': Crisil has reaffirmed the rating assigned to the fixed deposit programme of Garware Wall Ropes (GWRL) at `FAA-'. It has also assigned `P1' rating to the Rs 10 crore commercial paper programme of the company. "The rating reflects the company's strong market position in the industry, established presence in the export market and improved financial profile with a favourable structure," a Crisil release issued on Saturday said.

Insurance for journalists: Journalists, media organisations, senior scribes and intellectuals have insisted on the introduction of insurance risk cover and creation of safe and tension-free environment in newspaper establishments. Demand is also gaining momentum for an indepth probe into the murders of journalists to ascertain whether these were routine crime incidents or part of an organised attack on journalists to gag the freedom of the press.

ADB to financein Gujarat: Asian Development Bank (ADB) would consider urban development, housing, environment and infrastructure under its new financing plan for Gujarat, its representative in India Frank Polman said. ADB had already initiated preliminary studies in this regard with the concerned departments of the state government, Polman informed SK Shelat, the advisor to the state chief minister, during a meeting.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.


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