Icra has retained the `MAAA' rating assigned to the fixed deposit (FD) programme, Rs 100 crore medium-term debenture programme and the `LAAA' rating assigned to the Rs 50-crore long term debenture programme of Sundaram Finance . The ratings indicate highest safety. "The ratings take into account Sundaram Finance Ltd's market leadership position, excellent brand equity, track record of profitability and strong networth position coupled with relatively low level of debt," said an Icra release issued on Tuesday.

IndusInd board meet on July 30

The board of directors of IndusInd Bank will meet on July 30 at Mumbai to consider the unaudited financial results of the bank for the quarter ended June 30, 1999.

Loan defaulters list sought

All India Union Bank Employees Association (IUBEA) has urged the Reserve Bank of India to publish list of bank loan defaulters. "The names of bank loan defaulters should be published forthwith to discourage banksfrom lending such defaulters in future," said secretary RK Agarwal, IUBEA in Vijayawada on Tuesday. Protesting against the proposals to privatise banking industry in the country, Agarwal said that merger among banks will be inevitable in future.