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Journalism of Courage
RPG divests stake in Bayer
MUMBAI: As part of its restructuring process, the RPG group has divested its 7.38 per cent stake in Bayer India Limited. For RPG, the sale of its stake was another step in focussing on its core businesses like power, transmission, tyres, retail and communications while exiting from its non-core investments. Bayer was quoted at Rs 1784 on the Bombay Stock Exchange on Friday. However, RPG8217;s association with Bayer India would remain with Harsh Goenka continuing to be chairman of the board, it said. Bayer is one of the country8217;s leading players in agro chemicals, pharmaceuticals and rubber chemicals, with 51 per cent controlling interest held by Bayer AG, Germany.
Amex Bank, HDFC Bank tie up
MUMBAI: American Express Bank has signed an agreement with HDFC Bank to provide ATM cash access to its card members. The company which launched its credit cards in India last week, announced a new service by which outstanding balances from other credit cards can betransferred to the American Express credit card. This would enable card members to save up to 50 per cent, Sanjay Rishi, country manager, American Express Travel Related Services, said. Balance transfer service will be at 1.45 per cent for an introductory period of six months.
BankTech 8217;98 expo in city
MUMBAI: Over 40 companies are showcasing technologies in the banking and financial sector at BankTech 8217;98. The event which started on November 12, is exhibiting a range of products including electronic payment systems, smart card solutions and security systems, the organisers said. Compaq, Microsoft, Pentafour Software, CMC and Microland are among the participating companies. The exhibition concludes today.
Bamp;K Info software
MUMBAI: Bamp;K Information Technologies, a banking software company, has launched a suite of products to integrate bank branches with the head office. Called Omni 2.0, the enterprise banking solution can manage retail and corporate banking transactions,accounting, telebanking, fax-on-demand and remote PC terminal at branch level. 8216;
