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Business Briefs

PNB takes over Nedungadi

New Delhi, Feb. 1: Punjab National Bank (PNB) today took over Nedungadi Bank, the oldest private sector bank in Kerala, with all its 174 branches working as PNB branches. The merger took effect following the finance ministry’s notification specifying Saturday as the date of amalgamation.

Forex reserves

New Delhi, Feb. 1: The country’s forex reserves stood at $ 73,205 million with an infusion of $ 805 million during the week ended January 24.

Bajaj Auto

Mumbai, Feb. 1: Bajaj Auto has posted a 4.2 per cent growth in sales for January 2003 at 1,21,216 units against 1,16,360 units in January 2002. Meanwhile, Hero Honda Motors’ sales increased 6.26 per cent to 1,45,708 units during January 2003 from 1,37,119 units in January 2002.


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