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Journalism of Courage
Centurion Bank deposits up
MUMBAI: The deposit base of Centurion Bank has grown by Rs 125 crore thanks to the amalgamation of 20th Century Finance Corporation TCFC with the bank. The merger would come into effect from tomorrow and lead to TCFC putting up its shutters, said D N, Ghosh chairman of Centurion Bank here today.
While all TCFC employees have been absorbed by the bank taking the employee strength from the current 300 to 700, the total asset base of the bank will grow to Rs 3,000 crore after the merger from the current level of around Rs 2,300 crore. The retail base of the bank has also gone up from a lowly Rs 100 crore to more than Rs 1,000 crore, he said.
With the addition of TCFC8217;s network, the bank would have a nationwide network of 70 branches offering a gamut of services ranging from corporate banking, treasury, retail financing and capital market products to personal banking products.
HPCL8217;s lube oil distribution
MUMBAI: Hindustan Petroleum Corporation Limited willinaugurate their first Lube Distributor8217; for automotive engine oils in the country on May 15. As a part of its market penetration plan, the company is appointing Hindustan Lubes for exclusively marketing lubricants at Chembur in the city.
Rosemount gets automation contract
MUMBAI: Fisher Rosemount India, which is a joint venture between 2.8 billion Fisher Rosemount, USA and Rs 200 crore JS Group of companies headed by Jasu Shah, has recently bagged a prestigious contract from a major fertiliser company in India for supply of foundation fieldbus based automation solution 8211; quot;Plantweb builderquot;. Terming the order as the first in India to implement this revolutionary technology, Jasu Shah says quot;the world over, foundation fieldbus technology is already making waves, growing phenomenally at more than 200 annually, it is rapidly replacing the conventional process control technologiesquot;.
