United Bank cuts PLR

United Bank of India has cut the prime-lending rate (PLR) by 25 basis points to pass on the benefit of reduced cost of funds to borrowers. According to the revised rates, benchmark PLR has been fixed at 10.75 per cent from 11 per cent earlier, the bank said in a release. It said the revised rates would have retrospective effect from January 1, 2004.

Data Access

Data Access Telecom Ltd, a wholly-owned subsidiary of Data Access India, has been granted Full Annex II status by Office of Communication, the telecom regulatory body of the UK. It will enable the company to directly interconnect with European telecom carriers.

Bhel order

Bharat Heavy Electricals Ltd (Bhel) has bagged a Rs 36 crore steam turbine generator set and waste heat recovery boilers order for Bhushan Steel and Strips Ltd’s captive power plant in Orissa.

DCB alliance

Development Credit Bank (DCB) has entered into a strategic alliance with Euronet India, a global player in providing secure electronic transaction solutions. Euronet India will provide DCB with ATM outsourcing and deployment solutions.

Study scheme

ICICI OneSource has introduced a higher education scholarship policy for its employees. It will enable the staff to pursue higher education while working with the company.

Zuari offer

Indian Furniture Products Ltd, a division of K. K. Birla-owned Zuari Industries Ltd, has launched the Optima range of Euro-compliant, ready-to-assemble bedroom furniture.

Bank of Baroda

The Ballygunge branch of Bank of Baroda in Calcutta has recently started a demat cell to provide demat/remat services to shareholders at a lower cost compared with other depository participants.

Apple launch

Apple has introduced QuickTime 6.5, a mainstream media architecture for the creation and playback of multimedia content for both CDMA 2000 and GSM networks.

GE rating

General Electric has been named the world’s most respected company for the sixth consecutive year in a worldwide survey of CEOs conducted by Financial Times and PricewaterhouseCoopers.

Fevistik

Pidilite Industries has launched Fevistik, a glue-stick product, in a 22g pack priced at Rs 40.

Varie launch

Varie Marketing Concepts has launched aromatic and herbal products for personal care. Its products include 2-Phase Acti-Slim Oil to dissolve cellulites.

ABB India

ABB India has bagged Asiamoney’s award for the best small cap firm in 2003 from India.