ABN Amro in retail banking
MUMBAI: ABN Amro Bank on Friday launched retail banking products called the `Dutch Advantage' and the `Dutch Double Advantage' with freebies like door-step banking, cheque return protection and personalised cheque books thrown in liberally. The `Dutch Advantage' is a fixed deposit product, enabling the depositor to withdraw any amount while the balance continues to earn interest. Under the `Dutch Double Advantage', a current account gets automatically opened for the customer with an overdraft facility of up to 90 per cent of the deposit.As part of its diversification plans, it will also launch a money market mutual fund (MMMF) having obtained tax exemption approval from Central Board of Direct Taxes (CBDT).
Philips Consumer
MUMBAI: Philips Consumer Communications (India) plans to flood the Indian market with a series of cellular handsets and pagers in 1998 -- four models of cellular phones and 3 models of pagers. ``The cellular phone market inIndia has crossed the one million mark by June 1998. With 22 telecom circles in operation, the potential market targeted is 2.5 million by 2000 AD,'' said Jonathan Marhbank, General Manager, PCC, Asia Pacific.PCC is a leading provider of corded and cordless phones and answering machines. Michael Mc Tighe, CEO of PCC, says the paging market in India is still not developed.
Bisleri's plans
MUMBAI: Bisleri, the largest selling mineral water brand, has tackled the problem of spurious or contaminated water bottles by introducing a new seal cap. It has worked a unique mechanism by which every bottle of Bisleri is tamper proof. This is done through Bisleri's new break away seal cap, claimed a company statement. Consumers will be able to identify whether the bottle purchased is original or spurious. The new break-away seal cap of Bisleri ensures that once the seal is broken, it is impossible to replace it, added the statement.
Emco-Enron
MUMBAI: Emco Transformers has tied up withEnron to jointly bid for Orissa's power distribution privatisation programme. A separate joint venture company is proposed to be formed wherein the Emco-Enron consortium will hold 51 per cent of the equity and the Grid Corporation of Orissa (Gridco) the balance. As per the understanding, Emco's equity stake would be upto 10 per cent (out of the consortium's 51 per cent) in the proposed joint venture. The company would get preference in supplying its products to the consortium.
Bank of Baroda
MUMBAI: Bank of Baroda's global deposits increased by Rs 6,650 crore (20.68 per cent) for year ended March 1998 whereas global advances increased by Rs 3,268 crore (19.78 per cent) during the year ended March 1998.
Domestic deposits increased by Rs 5,700 crore (21 per cent) and reached a level of Rs 33,500 crore whereas total domestic credit surged by Rs 3,100 crore (20 per cent). The savings bank deposits have increased by Rs 1,350 crore (22 per cent) to reach a level of Rs 7,500 crore.
LanBit(India)
MUMBAI: LanBit (India) has been accorded the top position among leading brands of networking products by International Data Corporation (India) (IDC). In the latest survey on networking product sales conducted by IDC for the period April-September 1997, LanBit modems and networking products have been rated No 1 in terms of sales volume and market share through channel-partners like re-sellers and dealers.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
