Verma to become IDBI Bank chairman

MUMBAI: MS Verma, former chairman of State Bank of India (SBI) and currently adviser to the Reserve Bank of India (RBI), will shortly be taking charge as chairman of IDBI Bank, the commercial banking subsidiary of the Industrial Development Bank of India. Verma was with the SBI, the country's premier banking institution, for over four decades.

Lubrioil ties up with Indian firm

MUMBAI: Lubrioil, a US based multinational, has made its foray in India by entering into a strategic alliance with Enpro India Ltd. The focus of the alliance is to ensure a strong distribution network within the country. Lubrioil, a multi-million dollar company founded in the early 90s with its manufacturing base in South Africa and now a plant in USA, will provide international quality products to new niche markets at affordable prices. The company manufactures products that range from lubricants and greases, to wide spectrum of corrosionprevention coatings, machining fluids, car care and cleaning products.

Crisil launches website

MUMBAI: The Crisil launched its website `www.crisil.com' on Thursady. "We have built e-commerce capability to enable information users to source intelligent information online," Crisil managing director R Ravimohan said. Crisil's website provides a comprehensive coverage of information in a number of business areas - credit rating, corporate information, industry, economy, capital markets, finance and banking, Indian business groups, disinvestment and privatisation and infrastructure. Crisil is India's leading credit rating agency, and has an alliance with Standard and Poor's rating services.

Hyundai exports

NEW DELHI: Auto giant Hyundai Motors (India) has begun exporting body panels and parts of its Santro car to the Korean market in anticipation of its proposed launch there. Exports of car parts are being made to the parent company Hyundai Motor Company (HMC) from this month. "This is thefirst time in the history of Indian car industry that an international product has first made its debut in the Indian market and then taken to the parent company's domestic market," Hyundai Motor India MD YS Kim said.

Hyundai Santro would be on public display for the first time in Korea at the Seoul motor show scheduled to be held from May 10 to 18, it said. The Indian company proposes to earn $ 10 million in foreign exchange in the first year of its exports of Santro body parts to HMC in Korea, the statement said. Hyundai has already exported over $ 300,000 worth of body panels and engines and transmission components to Korea till date.