Rabo to invest in agri sector
Rabo India will invest Rs 400-500 crore in food and agri business in north India and is looking at mergers and acquisitions, venture capital funding and project advisory for attaining higher growth in the coming years. “The focus for Rabo India will be mergers and acqusitions, private equity venture capital funding and cross border strategic advisory projects in food and agri-business space,” Rabo India managing director Rana Kapoor said. The Indian subsidiary of Dutch agri banking major Rabobank has identified agricultural infrastructure as an important sector for investments.
Saregama India has informed the Bombay Stock Exchange that the board of directors has approved in-principle the proposal for investment in the equity of Min Bimbangal, a leading television content provider in South India.
SBI Indore net
State Bank of Indore has announced a 34 per cent increase in net profit at Rs 37.5 crore in the first half of this fiscal from Rs 27.91 crore in April-September 2001. In the second quarter, the bank recorded 40.8 per cent increase in net profit at Rs 20.53 crore compared with the corresponding period of the previous year.
IDBI-Principal AMC has introduced the Recurring Investment Scheme (RIS) under the systematic investment plan. The AMC has tied up with Geojit Securities (India) and Barjeel Securities in the UAE to popularise this concept.
Andhra Bank’s net profit went up by 73.66 per cent to Rs 148.08 crore on 30 September 2002 compared with Rs 85.27 crore as on 30 September 2001.
Voltas Ltd has bagged three export awards from government for outstanding performance during 2001-02. The awards was for maximum value of contracts secured, maximum foreign exchange earned and repatriated and maximum foreign works secured in new areas.
Citibank has launched the ‘Citibank personal privilege card,’ which would offer customers the flexibility to withdraw money against the repaid amount of an existing loan. “The new generation card gives customers the security and confidence that they have access to unsecured credit to deal with any sudden requirement of funds,” Citibank marketing director (consumer assets) P. R. Sheshadri said.
Noida-based Interra Systems, which develops customisable software components, plans to invest $ 10 million over the next five years to expand its software development centres in Delhi and Calcutta, Sanjay Mittal, managing director, Interra Systems said.
Fitch Ratings India has assigned an F1(Ind) rating to the Rs 30-crore commercial paper of Crompton Greaves Limited. It indicates highest credit rating and strongest capacity for timely payment of financial commitments.