Crisil has reaffirmed the rating of various debt instruments of Kotak Mahindra Finance Ltd. The fixed deposit rating has been reaffirmed as `FAA+' which indicates strong degree of safety and the short term debt programme of Rs 250 crore has been reaffirmed as `P1+' which indicates very strong degree of safety. The rating of outstanding five year ncds of teh company has been resffirmed as `AA+'.

SBI pays dividend

SBI chairman GG Vaidya on Tuesday handed over a cheque of Rs 125.74 crore to RBI governor Bimal Jalan for the payment of dividends for 1998-99 on the equity held by RBI in the former. RBI holds 59.73 per cent in the equity of SBI. The rate of dividend is Rs 4 per share of Rs 10. Meanwhile Bank of India has made a payment of Rs 48.90 crore to the Government fo India for dividends for 1998-99.

Indian bank to recover Rs 200 crore soon

The Indian Bank has arrived at an understanding with the borrowers for the recovery of loans over Rs 200crore, the bank chairman and managing director, TS Raghavan said on Tuesday. The bank, with a non performing assets of Rs 778 crore, had already recovered Rs 100 crore in cash so far and efforts were on to recover another Rs 300 crore, Raghavan said.

Icra assigns LAA rating to Eicher's Rs 50-cr NCD

Icra has assigned `LAA' rating to the proposed Rs 50 crore non-convertible debenture of Eicher indicating high safety. This rating takes into account companies dominatingposition in lower horse power tractor sgement and its increasing focus on competitive higher hp tractor segment, Icra said in a statementon Teusday. The rating agency also assigned `A1+' rating to Rs 5 crore commercial paper of LH Sugar Factories Ltd (LHSF), indicating highest safety, it added.

Allianz has new head

Alan Wilson has been appointed as chief executive officer, Asia to manage life and health operations and implement teh Allianz groups strategy in 17 markets throughout the region.

IndusInd'sappointment

N Suresh Pai has been appointed as vice president (Planning and Marketing) of IndusInd Bank corporate office Mumbai.