Centurion Bank on fast track

Centurion Bank is planning to securitise part of its two-wheeler loan portfolio of Rs 240 crore in the current fiscal to release resources for business growth. The private sector bank would securitise assets worth Rs 60 crore every quarter and have already done one such transaction amounting to Rs 58 crore, Centurion Bank managing director S. Bhandari said. The bank has issued pass through certificates to institutional investors and banking entities which has received an AAA(SO) rating from Fitch Ltd.

PFC aid

Power Finance Corporation (PFC) has entered into an agreement with North Eastern Electric Power Corporation for financing two large projects in the northeast region. Kameng hydro electric project (600 MW) in Arunachal Pradesh and gas-based power project (280 MW) in Tripura are the two projects that would be financed during the Tenth and Eleventh Plan periods, a PFC release said.

LKB rates

Lord Krishna Bank (LKB) has hiked interest rates on non-resident external (NRE) three-year rupee deposits by 0.22 per cent to 3.74 per cent following withdrawal of tax sops in the budget. Interest rates on NRE deposits for 1-2 years has been revised to 2.46 per cent from 2.12 per cent, while it was raised to 3.23 per cent from 2.94 per cent for 2-3 years.

Compulink

The Pune-based Compulink Systems Pvt Ltd has set up a subsidiary in the UK. This is in line with its plan to foray into the European market and target global services execution management (SEM) space. The company is also setting up a new development centre in Hinjewadi (Pune). “The £27-billion IT and IT-enabled services market of UK holds promise for SEM companies,” a Compulink release said.

PTC licence

The Central Electricity Regulatory Commission has granted the highest category ‘F’ trading licence to Power Trading Corporation for inter-state trading of electricity. Under this category, PTC would be able to trade more than 1000 million units of electricity in a year across the country for a period of 25 years, a company release said.

HPCL pact

Hindustan Petroleum Corporation Ltd has signed a memorandum of understanding with Chevron Texaco and Advanced Refining Technologies LLC to sponsor research activities in hydroprocessing at Indian Institute of Technology, Kanpur. The R&D activities are expected to lead to an improved design of hydroprocessing facilities, development of mathematical models for refinery applications and development of advanced catalysts, an HPCL release said.

Yamaha launch

Yamaha Motor India has launched 125cc motorcycle Fazer priced at Rs 43,990 (ex-showroom, Delhi). Initially, the company expects Fazer sales at around 6,000-8,000 units, which will go up to 20,000-25,000 units gradually. The self-start and disc brake variants of fazer will be available by October.