Icra reaffirms rating for HPL
Icra has reaffirmed the CS5 rating assigned to Himgiri Plantations Limited (HPL) indicating high risk. "The rating reflects the inadequacy of HPL's operational cashflow to service the interest and repayments of investors in the CIS scheme as per terms," said a Icra release issued on Monday.

DLF gets IND AAA MF rating
Duff & Phelps has assigned `IND AAA MF' rating to Dundee Liquidity Fund indicating highest credit quality. According to a rating release, the rating takes into account excellent quality of credit portfolio resulting from conservative investment policies. The liquidity fund is an open ended mutual fund sponsored by Canada-based Dundee Bancorp Inc.

RBI announces T-bills auction
The RBI on Monday announced the auction of 14-day and 91-day treasury bills for a notified amount of Rs 100 crore. According to RBI release, the allocation to non-competitive bidders will be outside the notified amount at the discretion of the bank. "Tenders should be submitted in the prescribed form on december 10, 1999 and payment by successful bidders will be on December 11," it said.

Auction of 182-day T-bills
The RBI on Monday announced the auction of 182 day treasury bills for a notified amount of Rs 100 crore. "State government are allowed to participate as non- competitive bidders and the allocation to non-competitive bidders will be outside the notified amount at the discretion of the bank," said a RBI release issued on Monday. According to the release, tenders should be submitted in the prescribed form on December 8, 1999 and payment by successful bidders will be on December 9.

RBI rejects MFL application
The Reserve Bank of India on Monday rejected the application for certificate of registration submitted by a Haryana based financial company Mortein Finlease Ltd. "The above company cannot transact the business of a non- banking financial institution as defined in clause (a) of section 45 IA of RBI Act, 1934," said a RBI release issued on Monday.

Bank staff stage dharna
Bank employees on Monday staged a dharna in Delhi against the government's move to privatise the financial sector. The strike was called by all India bank employees' association (aibea). "The dharna was held at its other district headquarters too," Delhi state bank employees' association (dsbea) said. "The government under the dictates of the international monetary fund and the world bank is privatising the financial institutions.