The Telegraph
Since 1st March, 1999
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Corporate Briefs

Mobile ATM from ICICI Bank

ICICI Bank has launched the country’s first mobile ATM, which will be initially stationed at four locations for fixed hours in the western suburbs of Mumbai. Bank executive director Chanda Kochhar said the mobile ATM would literally bring the ATM to the customer’s doorstep. Initially the networked ATM will be stationed at Vile Parle (east), Juhu, Andheri (west) and Kandivali. Similar vehicles would be put into operation at the other metros before March, following necessary approvals from the Reserve Bank of India, Kochhar said.

Vizag Steel

Vizag Steel Plant (VSP) has earned a net profit of Rs 147 crore during April-November against a net loss of Rs 142 crore in the corresponding period of the previous year. The plant registered a sales turnover of Rs 390 crore in November 2002, posting a growth of 25 per cent over the corresponding period last fiscal.

Provident fund

The Employees Provident Fund (EPF) Organisation has signed an agreement with HDFC Bank to disburse pension to EPF members through the private sector banks’ branches in the country. The service charge of 1.25 per cent would be paid for monthly pension disbursement and 0.25 per cent for non-recurring lump sum payments, including commutation of pension, a company release said.

GE Plastics

GE Plastics India, a wholly-owned subsidiary of General Eletric Company, will set up an export oriented unit at its Baroda facility to cater to the thermoplastic markets of the Asia-Pacific region. Also, it has tied up with Jain Irrigation through which the polycarbonate extrusion assets of the latter would be acquired by GE and leased to Jain Irrigation.

H-P launch

Hewlett-Packard will roll out 50 new imaging and printing products worldwide by early 2003. The company has invested over $ 1 billion in research and development over the last three years to set the standard for the printing and imaging market.

Andhra Bank

Andhra Bank has joined hands with Mastercard for launching its co-branded electronic card to facilitate flexible and convenient payment. Mainly aimed at first users, Andhra Bank Mastercard Electronic Card would provide the advantage of efficient and state-of-the-art payment tool to customers, a bank release said.

Tektronix move

Tektronix Inc, a provider of test, measurement, and monitoring solutions for mobile equipment manufacturers and operators, has announced its protocol-test support feature for the newest universal mobile telecommunications system standard release.

Lever aid

Hindustan Lever chairman M. S. Banga has dedicated Yashodadham, a habitation of 289 dwelling units reconstructed by the company, to its residents, a release said. It is located in Bhachau taluka of Kachchh district in Gujarat.

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