Biz File

Punjab Tractors Ltd posts profit
Punjab Tractors Ltd has reported a net profit of Rs 27.9 crore on a turnover of Rs 237.2 crore for the quarter ending June 1998 8211; a jump of 52.5 per cent over the first quarter of 1997-98. The growth was powered by both increased capacities and continued customer preference, according to PTL Vice Chairman and Managing Director, Yash Mahajan.

Auto dippers for greater safety
The Bureau of Police Research and Development, New Delhi, has written to the heads of various police organisations in the country to consider the use of auto dippers in their vehicles for greater safety on the highways. This follows a presentation to the BPRD by a Bhatinda Engineering College alumnus, Lalit Mohan Sharma, who has indigenously developed an automatic dipper switch which is being manufactured by Chandigarh-based J.M.C. Electricals Pvt Ltd. under licence from National Research Development Corporation, New Delhi.

Bank branch computerised
Punjab Finance Minister Capt. Kanwaljit Singh inaugurated a fully-computerised and renovated branch of Andhra Bank in Sector 17 of Chandigarh on Monday. The branch has provided for an exclusive counter for senior citizens. The bank, which is currently celebrating its platinum jubilee, is aiming to reach Rs 10,000 crore of deposits and Rs 5,000 crore of advances for the year ending November 1998.

Chandigarh: US-based Western Union Financial Services Inc has appointed Paul Merchants Limited of Chandigarh, a RBI approved full fledged money changer, as its primary representative to carry out money transfer services. The money transfer services will be provided through the branches of PML at Delhi, Chandigarh, Jaipur, Ludhiana, Moga, Jalandhar and Ambala. Western Union is a wholly-owned subsidiary of First Data Corporation, which has a turnover of 5 billion, according to a press release issued here today.