AN ISSUE WITH A DIFFERENCE

Article Abstract:

Whirlpool of India Ltd has floated a Rs50 crore non-convertible debenture (NCD) issue. It has secured a standby letter of credit from the Standard Chartered Bank of New York for an amount equal to all interest payment and principal repayment obligations on this issue. For the first time a domestic issue has been guaranteed by an overseas office of a foreign bank. The NCDs have a face value of Rs5 lakh. It has tenure of six years and can be redeemed in three instalments at the end of fourth, fifth and sixth years. The coupon rate is 13.75 percent payable semi- annually. The issue closes on November 23, 1998. DSP Merrill Lynch is the lead arranger for the issue. The issue has been rated AAA (fso) by Credit Rating Information Services of India Ltd. (nr)

Electrical & Electronic Equip, Electrical Equipment, Appliance, and Component Manufacturing, Securities issued, listed, Whirlpool of India

---

PAY BILLS, BUY TICKETS VIA ATMs

Article Abstract:

Bankers have decided to provide services like paying utility bills and issuing railway passes through automated teller machines (ATMs) soon. HDFC Bank is already accepting electricity and telephone bill payments through its ATMs. The Indian Banks' Association has submitted a proposal to banks for the setting up of ATMs at railway stations to dispense season tickets under its shared payment network scheme. This scheme will enable users to access services through any ATM irrespective of which bank the user holds an account. (khr)

Comment:

India: Bankers to provide services like paying utility bills and issuing railway passes through automated teller machines

Commercial Banking, Services information, Bank Computer Services, Article

---

Similar abstracts:

• Abstracts: VOLUMES MAKE THE DIFFERENCE. SOUR STRAWBERRIES. HEINEKEN TO GO SLOW ON INDIAN BREWERY PLANS
• Abstracts: SQL STAR OPENS ITS SECOND TRAINING CENTRE. TATA INFOTECH, CBT TIE UP FOR INTERACTIVE TRAINING
• Abstracts: KHANNAS EXIT FROM OBEROI'S TRIDENT CHAIN. TAJ GROUP TO BUILD UP LANKA AS TOURIST SPOT
• Abstracts: ANUBHAV TO SELL HARVESTED TEAK TO REPAY DEPOSITS. INDAL TO SELL ELECTRONICS ARM TO AUSTRIAN CO
• Abstracts: CHAMERA II BID PACKAGE MAY FIND NO TAKERS Re MOVES IN TIGHT BAND

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.